January 2020 had 1126 Total Residential Listings come through the Hamilton Real Estate Board, which is down from the 1317 Listings in January 2019, as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Hamilton had 733 of those (down from 842 in 2019) and Burlington’s share was 269 (down from 330 in January 2019). Residential Sales located throughout the RAHB market area (including Burlington and all the outlying areas covered by The REALTORS ® Association of Hamilton-Burlington) of 692 Properties are up 5% from January 2019 and up 18.3% from December 2019. The overall average price for residential properties increased by 11.9% from January 2019 to $617,496. Hamilton’s Residential Sales (including Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook) were 485 up 15% from 420, with an average price of $562,235 up 13% from January 2019. Burlington had 143 Sales which is down 11% from 161, with an average price of $840,066 which is up 18% from January 2019. The end of month listing inventory which is a good indication of the type of market currently being experienced shows 789 Active Residential Listings giving Hamilton 1.6 months of inventory, down 15% from January 2019. Burlington has 245 Active Residential Listings giving it 1.7 months of inventory, down 16%. Average days on the market dropped from 42 to 34.1 in Hamilton and also decreased in Burlington from 34.9 to 28.6. Right now the Hamilton-Burlington Area is experiencing a Sellers Market, where the ratio of Homes Sold to Homes Listed is above 60%, currently sitting at 61.5%. In other words, 6.1 homes are sold for every 10 new listings. Homes Sold to Homes Listed Ratio: Buyers Market is below 40%, Balanced Market is between 40-60%, and Sellers Market is above 60%. For the rest of the article – Click Here