June 2018 Hamilton Real Estate Stats
- Robert Cekan
- 25 Jul 2018
The REALTORS® Association of Hamilton-Burlington (RAHB) reports that 644 residential sales were processed through MLS® for June 2018 in the Hamilton region — a drop of 17.2% when compared to June of last year.
The average price of all residential listings in Hamilton went from $498,803 a year ago to $506,277; that’s a modest gain of 1.5%. This is the first month since February to post a positive percentage change when compared to the same month from the year prior. While the average sale price is down from last month by about 9k, the trend since January has been a slow upward climb.
The median sale price, which minimizes the impact of outliers such as 8-figure mansions, increased from $449,950 in 2017 to $469,500 in 2018, or about 4.3% which is another positive sign that the market is recovering.
When looking at regional activity, we see that all parts of Hamilton’s primary city boundaries — with the exception of Hamilton Centre — have rebounded (and even surpassed) their price since this time last year. Surrounding towns like Flamborough, Waterdown, Grimsby and Stoney Creek have all recovered well since the new regulation hit last year’s summer market.
The biggest town struggling so far is Dundas who has been having trouble matching the prices of last year by a wide margin. There, average listings are selling 50k-100k less than that of last summer. Perhaps a good market opportunity for those interested in the area!
It was said a few times by local experts that we would likely be seeing the higher activity typical associated with the spring being pushed into summer and even fall this year and judging by the numbers, that generally seems to be the case. Although we have to remember that real estate markets are hyper-local and prices change vastly even within the amalgamated city borders.
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