Hamilton/Burlington Real Estate News - DEC 2021
HAMILTON-BURLINGTON REAL ESTATE UPDATE
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,199 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in November 2021.
Sales decreased by nearly ten per cent since last month, and they were down three per cent since November 2020.
New listings also decreased by ten per cent since last month and they were also down three per cent since last November.
The average price for residential properties was $911,673 which was a decrease of one per cent from last month compared to an increase of nearly 27 per cent from November 2020. The inventory available dropped even further to 0.5 months of inventory.
“Following a record average residential sale price in October, the average sale price held strong in November dipping by only one per cent,” says RAHB President Donna Bacher.
“This month we experienced fewer properties changing hands and fewer new listings coming to the market overall, which is not unusual as we move closer to the end of the year."
"We have also never seen inventory this low as the level of active listings and months of inventory available continue to fall. We expect the same story in December which typically sees lower activity levels in general.”
The number of sales of detached properties in the RAHB market area decreased by 11 per cent in November 2021 compared to last month.
The number of new listings decreased by 12 per cent, and the average sale price remained relatively unchanged at $1,023,561 following last month’s record. The number of active listings for detached homes has decreased by 19 per cent compared to October 2021.
“Single family detached properties continue to be one of the tightest segments of the market with active listings and months of inventory at the lowest levels on record,” says Bacher.
"While the average single family sale price remained at over $1,000,000 across the RAHB market area in November 2021, the City of Hamilton’s average single family sale price was $911,896, whereas the City of Burlington’s average single family sale price came in at $1,535,491."
The number of sales of townhomes in the RAHB market area decreased by 14 per cent in November 2021 compared to October 2021, and the number of new listings of townhomes decreased by 13 per cent.
The average sale price increased by four per cent in November 2021 to $792,056, whereas the number of active listings for townhomes decreased by nearly 31 per cent compared to last month.
“The average sale price of townhomes spiked to a new record in November 2021 coming in just shy of $800,000.
This property category saw only 53 active listings across the entire RAHB marketplace at the end of November with supply dropping to the lowest levels of 0.3 months of inventory,” said Bacher.
The number of sales of apartment-style properties in the RAHB market area remained unchanged in November 2021 compared to last month with 177 properties changing hands.
The number of new listings decreased by two per cent compared to last month and the average sale price decreased by six per cent over last month to $564,827.
“Apartment-style properties continue to be an attractive investment with strong demand with the same number of sales occurring month over month,” says Bacher.
MAKING A GRAND ENTRANCE
Your foyer is the first impression people get when they enter your home so it’s important to properly showcase this severely underrated area, especially if you’re trying to sell your home.
Don’t worry though – transforming your foyer from a dumping ground into a grand entrance is easy! Here are a few ways to create an amazing first impression in an area that endures so much wear and tear:
Cut the Clutter
A chaotic-looking hallway will turn buyers off so remove any clothing that’s no longer needed. Organize hats and scarves in stylish baskets and stack footwear in an orderly fashion.
Add Some Style
Add a unique piece of furniture such as a bench for guests to sit on as they take off their shoes. A small table to catch keys works well for more compact spaces.
Lighten Up
Foyers are usually fairly dark so use a brighter bulb to cast more light. Painting the walls a light shade will give it a more open feel and a strategically placed mirror will create the illusion of additional space.
Freshen Up
Breathe some life into your gloomy hallway by adding a few plants or fresh flowers. If you’re selling your home, replace the cluttered mass of family photos that creep up the stairs with a few neutral pictures.
Transforming your dark and dreary foyer is important, even if you don’t plan on selling, as this space sets the tone for the rest of your home. If you walk into a dark cluttered mess, it won’t generate the positive feelings that help put a smile on your face :)
YOUR CHANCE TO WIN
As we wrap up 2021 and look forward to new beginnings, we want to celebrate the year just once more, and show our appreciation for you putting your faith and trust in our team! In honour of such a memorable year, we are going to be choosing 3 lucky winners that have entered the giveaway, to take home a present.
GOOD LUCK TO ALL
*To enter giveaway, go to our Instagram or Facebook Page
HOW TO GUZZLE LESS GAS
Prices at the pump are soaring and now that the holidays are here, most of us will be doing a lot more running around than usual.
That said, there are some simple steps you can take to maximize your vehicle’s fuel efficiency. Here are a few tips that'll pay off at the pump:
Great Service
Regular maintenance will help increase your car's fuel efficiency and it will also extend the life of your vehicle.
Check & Inflate
Keep your tires inflated to the proper pressure. You’ll find the recommended PSI listed on the inside of your driver’s door.
Slow Down
Speeding increases fuel consumption by as much as 50% so take your time when you’re out running errands.
Don't Brake Down
Don't constantly jam on your brakes and then rapidly accelerate as it’s a huge waste of fuel. It also causes wear and tear on your brakes.
HAppY Place
Download an app such as GasBuddy to help you keep track of the cheapest gas prices in your area.
Lighten Up
Remove any unnecessary items from your vehicle as the extra weight will reduce fuel efficiency.
Put It In Park
The best way to save on gas is to keep your car in park so before you climb behind the wheel, ask yourself if you can walk instead!
Just a few small changes to your driving habits can save you a small fortune on gas and maintenance. Maximizing your vehicle’s fuel efficiency will not only save you money at the pump but you’ll also be doing your bit for the environment!
GIVE THE GIFT OF A KIVA LOAN
If you’re having trouble coming up with a unique gift for that special someone this holiday season, you may want to consider a Kiva gift card!
Kiva is a non-profit organization that has funded $1.6 billion in loans since 2005 to low-income families and entrepreneurs from around the world such as farmers, artisans, students and refugees.
It’s easy to purchase a Kiva gift card online and it’s not too late as they can be either printed or immediately sent to the recipient via email.
Once they receive their gift card, they can contribute to a variety of crowdfunded loans that fall under different categories. When the loan’s repaid, they can either re-lend the money to someone else or withdraw the funds.
Because it’s a loan and not a one-time donation, the impact can be felt multiple times so it’s truly the gift that keeps on giving!
The gift of a Kiva loan is a win-win scenario as it not only helps out the borrower but the lender walks away knowing they’ve made a real difference in someone’s life.
A LETTER FOR YOU
Dear: Clients,
Our hearts are full with thanks and grace during this holiday season, as we look back on what an incredible and successful year YOU, our clients, had in your real estate journeys.
We are beyond thankful that you continue to choose our team to guide you through the buying, selling, or investing process.
Wishing you, and your family and friends a safe, healthy, and joyous holiday season!
Merry Christmas & Happy New Year! 🌲❤️✨
Sincerely,
Guy D'Alesio Property Partners
