Hamilton: The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,304 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in June 2020.
Sales are up 53 percent over last month, and are down only 0.2 per cent over June of last year.
The average price for residential properties was $675,223, which is up 13.7 per cent from June 2019, and up 3 per cent from last month.
“With the reopening of the province, and the increased confidence in both the economy
and the health of our communities, we are seeing higher activity in both sales and new listings throughout the RAHB market area. Typically, spring is busier than summer; however, COVID-19 seems to have pushed the market back by a few months,” says RAHB President Kathy Della-Nebbia.
“Throughout the pandemic, the average price of residential properties in our market has held steady. If Ontario’s recovery from COVID-19 continues, we shouldn’t see a decrease; however, we are cautious that any relapse or a second wave could slow activity and affect average price.”
The number of sales for single family properties within the entire RAHB market decreased
by 0.2 percent compared to the same month last year, and the average sale price increased by 13.7 percent.
Townhouse sales activity across the entire RAHB market area increased from June 2019 by 10 percent, and the average townhouse sale price increased by 13.5 percent to $563,849.
Apartment-style property sales decreased by 13.5 percent from June 2019, and the average price increased by 6.8 percent.
“COVID-19 has changed real estate and many other businesses, and we are operating within a new norm. “As a profession, REALTORS® are working with caution to ensure our safety, as well as the safety of our communities,” says Della-Nebbia. “If you are thinking of purchasing or selling a home, local RAHB REALTORS® have the data trends and information to generate a real estate transaction that is both successful and safe.”