April 2019 Real Estate Market Report for Hamilton
April 2019 had 1227 Residential Listings come through the Hamilton Real Estate Board. This is slightly HIGHER, by 2% HIGHER than April 2018 as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Burlington is still DOWN from last year, by 6% with only 498 New Listings.
Residential Sales located throughout the RAHB market area (including Burlington and all outlying areas covered by RAHB) of 1226 Properties were up this month, a 6.3% increase from the same month last year. This went up 18.8% from March 2019 and is a 66.8% increase of February 2019! Residential Sales in Hamilton (which includes Hamilton plus Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek and Glanbrook) were 769 of that total. The Average Hamilton Residential Sales Price of properties sold through the RAHB Multiple Listing Service® (MLS) system in April 2019 was $528,286 up 3% from $511,549 the same month last year. Burlington is up 4% to $752,459. The end of month listing inventory shows 1509 Active Residential Listings, giving Hamilton 2 months of inventory, which is up 42% compared to 1066 Properties still available for sale at the end of March last year which was 1.5 months of inventory. Burlington has 1.6 months of inventory (up only 4%) with 536 active listings for sale. Average days on the market decreased slightly from 25.7 to 24.8 this year for Hamilton, however it increased in Burlington from 23.4 to 25.1.
The Hamilton – Burlington Area is sitting at the low end of a Sellers Market right now, where the ratio of Homes Sold to Homes Listed is above 60%, currently sitting at 63.2% for Residential, (in other words, 6.3 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 remaining article – Click Here