Hamilton and Burlington
If you want to sell your Hamilton or Burlington home or sell your house in the locations, the REALTORS® Association of Hamilton and Burlington is here for you. It was established in 1921 and represents more than 3,000 real estate brokers and sales representatives from these areas. Therefore, choosing to sell your residential property in these places through the REALTORS® Association of Hamilton-Burlington (RAHB) is a decision worth taking. We will consider how the market has been in November 2020 as compared to the previous month and the same period in the previous year.
Sales, Listings, and Demand for Residential Property
In November 2020, the REALTORS® Association of Hamilton-Burlington reported a total of 1,233 sales of residential properties located within the market area of Hamilton-Burlington. The report was processed through the Multiple Listing Service System (MLS®). According to the report, the sales reduced by 24.12% compared to the previous month. However, the sales increased by 17% from that recorded in November 2019. On the other hand, in the same month of November, the listings reduced by 28.98% as compared to October 2020 but increased by 16.3% from that recorded in November 2019. Moreover, the average price for the residential property was $722,317, a 0.11% increase from October and a 21.2% increase from November 2019. Nonetheless, at the end of the month, the active listing was 40.8% lower than that of November 2019.
Concerning the low inventory in November 2020, Kathy Della-Nebbia, the president, said that it slowed as a result of cold weather, rising cases of COVID-19 throughout the province, and the relocation on November 16 to Red Zone, a location that has banned open houses. Moreover, sellers are not listing their homes when they still haven't found other homes to buy. This has led to the low number of active listings which increases the average prices of residential property.
Sales and Listings of Single-Family Property
In November 2020, the number of sales of these properties within the RAHB market decreased by 3.8% compared to November 2019. Furthermore, the number of new listings also reduced by 10.5% compared to the previous year. Moreover, the average sale price was $812,912, a 24.4% increase from the last year. Additionally, the sales activity in the entire market increased by 15.2% from November 2019 and the new listings increased by 19%. Nonetheless, the average sale price was $606,367, a 17.6% increase. According to Della-Nebbia, the activity for the property was slower since fewer sellers listed their homes at that time. However, they are still in demand since the towns and apartments are still active.
Sales and Listing of Apartment-style Property
In November 2020, the sales for such property increased by 14.8% from the previous year. Also, the listings increased by 37.3% as the average price recorded was $455,238, a 1.4%increase.
The REALTORS® Association of Hamilton-Burlington (RAHB) is established to help people sell their residential property around Hamilton and Burlington faster and easier. However, in November 2020, there has been a decrease in the number of sales of some property within the area and a reduced number of listing too. This doesn’t prevent them from offering the best services and meeting clients’ housing needs.