Hamilton-Burlington real estate saw record-high sales in 2021; average price was $867,560

Hamilton | Ontario | News | Real Estate |

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Published January 20, 2022 at 4:47 pm

2021 was a record-setting year for real estate in the Hamilton-Burlington area.

After setting new sales records month after month, it can’t be too surprising that overall Hamilton-Burlington real estate sales were at an all-time high in 2021.

The Realtors Association of Hamilton-Burlington (RAHB) reported 16,502 sales of residential properties through the Multiple Listing Service (MLS) system in 2021 — a 10.5 per cent increase from the previous year.

“After a strong finish to the year in 2020, the market continued with feverish momentum fueled by high demand throughout 2021 which led to new records being recorded month after month,” says RAHB’s 2022 President, Lou Piriano. “2021 marked the first year that greater than 16,000 residential transactions occurred in the RAHB market area with the previous record set in 2016.”

Piriano says the record-high sales activity was supported by historically low mortgage rates.

The average price of a residential property in 2021 was $867,560 across the RAHB market area – up 25.74 per cent from 2020. The average price in 2011 was $321,449, which represents a 169.89 per cent increase over ten years.

New residential listings increased by 7.7 per cent in 2021.

When the residential statistics are broken out into the four main RAHB market areas, Hamilton experienced a 10.05 per cent increase in new listings, a 10.98 per cent increase in sales, and a 26.76 per cent increase in average price to $798,959.

Broken down by community, Dundas and Hagersville experienced the highest percentage increase of sales at 36.1 and 40.28 per cent, respectively.

Hamilton Mountain saw the highest total number of sales at 2,373.

The largest drop in the number of sales was experienced by Ancaster, falling from 840 sales in 2020 to 807 sales in 2021.

Hamilton-Burlington real estate saw record-high sales at average price of $867,560

Burlington saw a decrease in listings by 4.46 per cent, an increase in sales by 5.04 per cent, and an increase in average price by 22.96 per cent to
$1,079,317.

Haldimand saw a 8.19 per cent increase in listings and a 34.45 per cent increase in average price to $734,496, while the number of sales decreased by 2.39 per cent.

Niagara North saw a 13.92 per cent increase in listings, a 13.97 per cent increase in sales, and an increase in average price by 30.7 per cent to $869,401.

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