Hamilton/Burlington Real Estate News - JAN 2022
HAMILTON-BURLINGTON REAL ESTATE UPDATE
Sales decreased by 32 per cent since last month, and they were down 11 per cent since December 2020. New listings fell by nearly 50 per cent since last month and they were also down six per cent since last December.
The average price for residential properties was $931,787 which was an increase of two per cent from last month compared to an increase of 27 per cent from December 2020.
“December 2021 saw a new residential average sale price record to close out the year,” says 2022 RAHB President Lou Piriano.
“The number of properties changing hands in December did not rival the momentum from December 2020, however, we have never seen the months of inventory and active listings available this low before.
Generally, most people wait until after the holidays to list their homes, but with approximately 300 residential properties on the market heading into 2022, we are expecting to continue to see tight conditions with such low levels of supply.”
The number of sales of detached properties in the RAHB market area decreased by 31 per cent in December 2021 compared to last month.
The number of new listings decreased by 51 per cent, and the average sale price increased slightly to $1,029,067 which was just shy of the record set in October 2021.
The number of active listings for detached homes has decreased by 56 per cent compared to November 2021.
“The average sale price of single-family detached properties remained over the $1,000,000 mark across the RAHB market area as we close out the year with Hamilton coming in at $924,223 and Burlington soaring to $1,559,363."
"At the end of December, there were fewer than 200 single-family detached properties available for sale,” says Piriano.
The number of sales of townhomes in the RAHB market area decreased by nearly 34 per cent in December 2021 compared to November 2021, and the number of new listings of townhomes decreased by 42 per cent.
The average sale price increased by two per cent in December 2021 to $809,602, whereas the number of active listings for townhomes decreased by 103 per cent compared to last month.
“The average sale price of townhomes hit a new record in December 2021 coming in at $809,602. This property category also has the tightest market fuelled with high demand and low inventory,” said Piriano.
"There were only 26 active listings at the end of the month which represents 0.2 months of inventory. On average, townhomes sold in ten days or less throughout 2021."
The number of sales of apartment-style properties in the RAHB market area dropped by 35 per cent in December 2021 compared to last month with only 115 properties changing hands.
The number of new listings decreased by 45 per cent compared to last month, whereas the average sale price increased by nine per cent over last month to $616,064.
“The average sale price for apartment-style properties registered over $615,000 in December 2021. This price point continues to make these properties an attractive investment due to the lower price point,” says Piriano.
“Out of all of the property categories, apartment-style properties also had the highest number of months of inventory available at the end of the month.”
CLIENT APPRECIATION
A special message from Guy D'Alesio, on behalf of our entire team!
CLIENT SPOTLIGHT
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!
GOAL SETTING STRATEGIES
I’m a huge believer in lists, whether it’s going to the grocery store or packing for a trip. The best thing I love about lists though is the satisfaction of crossing things off!
Studies have shown that a surge of dopamine is released each time an item is crossed off a to-do list which then fuels us to tackle other tasks. It’s basically a snowball effect that helps us get things done.
Listing and tracking your goals is the best way to hold yourself accountable so to make things easy, here’s a downloadable goal planner and to-do list to help you easily chart out the days, weeks and months ahead.
Goals are often financially related, such as saving up for a downpayment to buy a home, but there’s more to life than money so it’s important to also set goals for the following areas:
- family (ie. spend more time with family)
- physical (ie. work out on a regular basis)
- spiritual (ie. volunteer more often)
- social (ie. join a networking club)
- mental (ie. learn a new language)
Once you have a general idea of what your goals are, use the following guidelines to fine-tune them:
Step Up
Specify the steps you'll need to take in order to achieve each goal and then break down large goals into achievable, "bite-size" pieces.
Write On
It’s important to write your goals down and place them by your computer, bathroom mirror, car's dashboard, etc.
Seeing Is Believing
Take time each day to close your eyes and visualize yourself achieving your goals and enjoying the rewards that follow.
Download Your Goal Planner
Goal setting is like therapy as it provides us with a focused direction and a sense of purpose. Your enthusiasm will increase as you start to achieve your goals which, in turn, boosts your self-esteem.
Planning out your goals helps to reduce the stress that comes from feeling powerless and out of control. If you make it your goal right now to take control of your future, 2022 may just be your best year yet!
TAKE IT TO THE BANK!
During the holidays, most people are in a very giving mood but when the new year rolls around, donations usually slow down to a crawl.
Local charities, such as food banks, have struggled to keep up with a strong demand that has continued to increase since the beginning of the pandemic.
To make matters worse, collecting food donations has been a real challenge since their usual fundraising events had to be postponed.
On top of that, food prices are expected to rise by up to 7% in 2022 according to Canada’s Food Price Report which means that even more people will have to rely on food banks this year.
There are so many people in our area who struggle to afford nutritious meals during these difficult times which is why our local food banks are in desperate need of non-perishable food donations along with diapers, toiletries and cleaning supplies.
In addition to food and toiletries, financial donations are especially important as they offer the flexibility to buy fresh food or to load up on items that are in short supply.
Thanks so much to the amazing people who continue to volunteer their time at the food bank. Your work is truly invaluable!
AN APPY LIFESTYLE
If you’re looking to make some changes this year, your smartphone may hold the answers. Here are a few apps that are worth a look:
Duolingo
If learning a new language is on your to-do list for 2022, the Duolingo app is an absolute must!
Happify
This app is designed to help you overcome negative thoughts by offering a series of games that train your brain and build skills to help increase your happiness.
Done
The Done app is an intuitive and enjoyable way to help you manage your time and focus on your tasks. It displays monthly progress snapshots and also highlights your success streaks to keep you motivated.