February 02, 2022, Press Releases
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 718 sales of residential properties located within the RAHB market area in January 2022.
Real estate sales in Hamilton-Burlington were down by 11% month over month and also decreased by 13.5% compared to January 2021. The average price for residential properties was $1,058,756, which was an increase of 13.6% from December, and an increase of 34.7% compared to January 2021. The inventory of listings remains low at 0.6 months.
RAHB President, Lou Piriano, said that the average sale price for all residential properties reached a record-high in January at $1,058,756 across the RAHB market area. This is the first time that the average sale price has topped $1,000,000.
“If we look at the average sale price by area, Hamilton came in at $976,423; Burlington was $1,369,337; Niagara North was $1,045,801, and Haldimand County was $873,280. Specific neighbourhoods in each area often see differing averages, which is why it is so important to talk to a local Realtor whether you are thinking about buying or selling”, he added.
What does this mean?
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