Hamilton/Burlington Real Estate News - FEB 2022
HAMILTON-BURLINGTON REAL ESTATE UPDATE
The REALTORS® Association of Hamilton-Burlington (RAHB) reported 718 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in January 2022.
Sales were down by 11 per cent month over month, and also decreased by 13.5 per cent compared to January 2021. New listings were up by 40.9 per cent month over month, but compared to January 2021, there was a decrease of 11 per cent.
The average price for residential properties was $1,058,756, which was an increase of 13.6 per cent from December, and an increase of 34.7 per cent compared to January 2021. The inventory of listings remains low at 0.6 months.
“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,” says RAHB President Lou Piriano.
“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 RAHB REALTOR® whether you are thinking about buying or selling.”
The number of sales of detached properties in the RAHB market area was down 18.6 per cent month over month, and also decreased by 16.9 per cent compared to January 2021. The number of new listings was up 41.1 per cent month over month, compared to a decrease of 8.7 per cent from January 2021.
The average sale price for detached properties across the RAHB market area was an all-time high of $1,220,795, up 18.6 per cent month over month, and an increase of 35.8 per cent compared to January 2021. The number of active listings for detached homes has increased 45.7 per cent month over month. The inventory of single detached properties was 0.6 months.
“The average sale price of single-family detached properties remained over the $1,000,000 mark across the RAHB market area with Hamilton coming in at $1,089,916, climbing nearly 18 per cent month over month; and Burlington rising to $1,765,884, up 13.2 per cent month over month. Most areas did see an increase in listings in January compared to the previous month, with 290 single-family detached properties available for sale at the month’s end,” says Piriano.
The number of sales of townhomes in the RAHB market area was down by nearly eight per cent month over month, and also down almost six per cent from January 2021. The number of new listings of townhomes was up by 36.4 per cent month over month, and down nine per cent compared to January 2021.
The average sale price of townhomes across the RAHB market area was $891,988, up 10 per cent month over month, and an increase of 34.1 per cent compared to January 2021. The inventory of townhomes was 0.4 months.
“The average sale price of townhomes continued to rise in January, with Hamilton reaching $860,992 and Burlington coming in at $1,022,625. The townhome market was the tightest property category in January with the lowest levels of inventory,” said Piriano.
The number of sales of apartment-style properties in the RAHB market area was up by 16.5 per cent month over month, but compared to January 2021, there was a decrease of 6.3 per cent. The number of new listings is up by 40 per cent month over month, down 20.5 per cent compared to January 2021.
The average sale price was $686,169, an increase of 11.3 per cent month over month, and an increase of 44.1 per cent compared to January 2021. The inventory of apartment-style properties was 0.6 months.
“Of all the residential categories, apartment-style properties had the largest average sale price increase at more than 44 per cent year over year. This market was the only residential property category to experience an increase in sales month over month,” says Piriano.
“Apartment-style properties continue to have high demand due to the attractive price point for buyers and investors.”
Specific neighbourhoods within the overall RAHB market see results that often differ from the entire RAHB market area.
Neighbourhoods vary and determining the right price and conditions when buying or selling a property can be challenging. Local RAHB REALTORS® have the experience, knowledge and tools to help buyers and sellers make those big decisions.
Piriano adds, “RAHB REALTORS® are equipped with the best tools and systems to help you navigate the complexity of the market whether you are looking to buy or sell. It’s never too early to talk to a member of the REALTORS® Association of Hamilton-Burlington about your real estate and investment goals.”
FEATURED LUXURY LISTING !!!!
Welcome to 32 Sunrow Gate! A Spectacular and Luxurious home just steps away from the Lake. This recently new-built beauty has a desirable modern design, open concept main floor with 9 foot ceilings and 3 storey grandeur that is sought after within the GTA. Upon entering the home you immediately feel the luxuriousness of the home about to be discovered. The high end finishes throughout are clearly evident in the chef's dream kitchen that boosts top quality appliances and within the light immersed beautiful family room! As you proceed to the 2nd level the awe continues to 3 spacious bedrooms all with their very own bathrooms and walk in closets. Bonus 4th bedroom on the 3rd level. The Main bedroom is tranquility and luxury all in one! With a stunning 5 piece bath and massive walk in closet plus views of the lake, it is the perfect retreat at the end of a busy day! This homes main attraction lies up on the 3rd level where the entertainment lounge is located. The LED lights woven in the ceiling set the stage for relaxation and FUN! Walk out to a large patio with stunning lake-views, perfect for those long nights to entertain family and friends. Not to be forgotten is the basement, with 9 ft. ceilings and large windows, completely ready to be renovated to your desire. There is so much to say about this Gem, book your showing to see it to believe it! Your DREAM home awaits.
Call Guy or Mara at
905-308-8333 for more info.
HAPPY VALENTINE'S DAY!!
Congratulations to our Sellers, Buyers, and Investors across Various Cities!
We love seeing you succeed, and walk away with yours needs AND wants!
Whether you are Building your Investment Portfolio's, Selling Your Family Home, or a First-Time Home Buyer, we are here for YOU.
What is your next Real Estate MOVE?
Let us know!
MAKING CENTS OF YOUR DOWN PAYMENT
These days, a dream home can seem like just that – a dream. Owning your own home might seem like a daunting goal but with the right strategies, it’s definitely achievable.
A home is probably the largest single purchase you’ll ever make so it’s important to be aware of your financial circumstances and to have a plan of action.
It’s also important to know exactly how much you’ll need for a downpayment and closing costs so that you’re properly prepared and not caught off guard.
Once you figure out how much you’ll need, open up a savings account specifically for homeownership so you can easily monitor your progress. Here are a few ideas that’ll help you save up for a downpayment:
Consolidate Your Debt
It’s impossible to save money if you carry an unpaid balance on your credit card so consolidate it into a line of credit that offers a lower interest rate.
Government Programs
There are a variety of government programs that are designed to help prospective homebuyers with their downpayment. Just reach out for more details!
Room For Rent
Having a roommate will save you a considerable amount of money each month that can go directly towards your homebuyer savings account.
Cut the Car
It’s extremely expensive to own, operate and maintain a vehicle each month so consider selling your car and using public transit instead.
Making Menus
Planning weekly menus means you’ll be less likely to order take-out or overspend at the grocery store.
Lunch Break
Buying lunch even a few times a week costs thousands of dollars a year so pack a lunch instead and skip the fancy morning lattes.
Get a Book Deal
It’s the little things that add up so instead of buying books, check them out from the library. If they don’t have the book you want, they’ll usually order it for you.
Dream Homes Come True
Put a picture of your dream home in a prominent place to constantly remind you of your goal. Visualization combined with good old-fashioned willpower can help you turn your dreams into reality!
Saving up for a down payment requires discipline and patience. Just don’t get discouraged and remember that every little bit you save will help you eventually achieve your dream!
There are various programs available to assist home buyers with their down payment needs so if you or someone you know requires some help, please don’t hesitate to get in touch.
YOU SHOULD GO TAKE A HIKE!
Most people are sticking closer to home this winter, so it’s the perfect time to get out and explore some of the natural gems that our area has to offer.
Hiking is a great way to get exercise, fresh air and a healthy dose of vitamin D, all while connecting with the great outdoors and beating the winter blahs!
Another big advantage of hiking during the winter is that you don’t have to worry about getting eaten alive by mosquitoes :)
Both Hamilton & Burlington have plenty of scenic trails to choose from and if you haven’t visited the area’s beautiful waterfalls in winter yet, there’s still time! From Devil’s Punch Bowl to Tiffany Falls there’s something magical about the frozen falls.
You can also visit AllTrails for a listing of trails in Burlington and Hamilton along with reviews and photos from those who’ve previously explored the different areas.
If you’re looking to get out for a day trip, there’s a guide that features some of the best trails in Ontario. You can search trails by region and activity, so whether it’s hiking, snowshoeing, geocaching or mountain biking, this guide has you covered.
Whether you’re going hiking on a local trail or heading out further afield, it’s important to be prepared. Waterproof boots and layers will keep you comfortable if the weather changes and don’t forget water and snacks.
Also, always check that the trail is open before you leave and have a look at the conditions as harsh weather can impact the safety of the trail.
Winter can sometimes drag on which is why it’s important to stay physically and mentally active while reconnecting with nature. Whether you’re a walker, hiker or jogger, there’s bound to be an exciting outdoor adventure that will put a smile on your face!
TORTILLA PINWHEELS: THE EASY APP!
If you’re looking for an easy yet delicious appetizer to serve your friends and family, try this simple recipe for tortilla pinwheels. Here’s all you’ll need:
- tortilla wraps
- cream cheese
- grated cheese
- red pepper
- jalapeno pepper
- sour cream
Spread the cream cheese on the tortilla and then dice the peppers and add them on top before sprinkling on the grated cheese.
All you have to do now is roll up the tortillas and place them in the fridge for a few hours. Once they’re chilled, slice the tortilla rolls 1” apart before serving with sour cream. It’s that easy!
The beauty of this app is that you can prepare it well in advance and then just pull it out of the fridge when you’re ready to serve but if you have a bit of extra time, you can also heat them up in the oven at 350°F for 10 minutes.
You can also be creative with the types of ingredients you add as the recipe is very flexible. Just be sure to make enough as it’s the type of snack that people can’t get enough of!