November 3, 2020, Press Releases
The REALTORSÂ® Association of Hamilton-Burlington (RAHB) reported 1,615 sales of residential properties located within the RAHB market area in October 2020.
Real estate sales in Hamilton-Burlington were down 7.6% over last month and up 23.7% over October of last year. The average price for residential properties was $721,523, which was up 0.02% from last month and up 19.8% from October 2019. The number of active listings available at the end of the month was 39.8% lower compared to the previous year.
Kathy Della-Nebbia, RAHB president said the trends this fall are not reminiscent of what has been seen in the past, noting that due to the pandemic, 2020 has not been a typical year.
“As a result of COVID-19, we experienced a delayed spring market and a surge in record activity over the summer months when the province began to reopen,” she said. “As a result of this unstable year, active listings at the end of each month are some of the lowest we’ve seen, exacerbating low inventory levels and continuing to drive average price.”
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