Here's what Burlington's housing market looked like in 2019
Home sellers in and around the Hamilton-Burlington area reaped modest benefits in 2019 from a slight decrease in new listings and an uptick in pricing.
The year-end report from the Realtors Association of Hamilton-Burlington (RAHB) found that there were 12,866 sales of residential properties located within the RAHB market area — which includes Hamilton, Burlington, Haldimand and North Niagara — were processed through MLS in 2019.
The report says this is 10.1 per cent more sales than in 2018.
The average price of a residential property in 2019 was $587,745. This is up 4.9 per cent from 2018, and 95.3 per cent higher from 10 years ago.
New residential listings were down four per cent compared to the previous year, RAHB says in the report.
"The RAHB residential market has balanced out from the high activity experienced in 2016 and 2017; however, increases in average price and number of sales, paired with a decrease in new listings, indicates that 2019 favoured sellers more than in 2018," noted RAHB CEO Carol Ann Burrell in the report.
"Buyers in 2019 were able to take more time to find their preferred, and in many cases more affordable, property compared to previous years, and so the sellers' market was not as noticeable."
Burlington saw a decrease in listings by 5.7 per cent, an increase in sales by 5.7 per cent, and an increase in average price by 2.8 per cent to $755,639;
Stoney Creek and Ancaster experienced the highest percentage increase of sales in the RAHB area at 16.6 per cent, and the Hamilton Mountain saw the highest total number of sales at 2,043.
The largest drop in the number of sales was experienced by Rainham, falling from 85 to 57 sales.
The highest average sale price was held by Ancaster at $772, 811, and the largest percentage increase was held by Rainham at 30.5 per cent, from $357,312 to $466,153.
The only community to experience a drop in average price was Flamborough.
"It can be difficult to properly interpret the statistics, especially when communities have so many different types of properties - large and small, as well as urban, suburban and rural," says RAHB President Kathy Della-Nebbia.
"For example, one large farm sale could skew the average price up more than what was experienced in that overall area."
When it comes to the type of properties moving in the RAHB area, single-family properties experienced gains in the number of sales across all four market areas, with Hamilton seeing the highest at 15.5 per cent.
Apartment-style property sales were up across the board, with the exception of Haldimand where this type of property is rarer.
Detached homes, townhouses and apartment-style properties in most of RAHB's market areas experienced average price increases, with only Haldimand townhouses experiencing a slight drop.
The RAHB report also notes that in 2019, commercial properties within their jurisdiction experienced a decrease in the number of sales, as well as the average price.
Hamilton saw the highest number of commercial sales at 134 and the highest dollar volume at $121,522,332, which are both down from 2018.
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