The average price for a home in Hamilton skyrocketed in January as the number of active listings didn’t come close to meeting the demand for homes in the city.
According to latest data from the Realtors Association of Hamilton-Burlington (RAHB), Hamilton saw a seven per cent annual increase in sales in the month of January. There was a total of 825 homes sold and the average home price in the region was $787,840, making for a year-over-year increase of 28 per cent from 2020.
New listings for the RAHB market were up 47 per cent however active listings at the end of the month were down 53 per cent from the year previously.
“This year’s decline in new listings builds off the back of the pre-pandemic drop in new listings and inventory levels we experienced in January 2020,” said RAHB President Donna Bacher.
“In addition, now many homeowners may not be interested in or even able to move their households due to the pandemic, adding to our inventory woes. The decrease in single-family homes available for purchase, coupled with the logistical hurdles families face moving during a pandemic, may have greatly influenced many not to put their home on the market.”
As a result of these conditions, most homes sold in January went for well over the seller’s asking price.
Here’s a look at the most inexpensive and expensive homes that sold in Hamilton in the first month of 2021.
This centrally located bungalow was listed for $399,900 and sold for a $506,000. It featured three bedrooms, one bathroom and more than 900 square feet of living space. The one-car garage offered an alternative entrance into the home’s basement.
Located on the central Mountain, this two-bedroom one bathroom home was listed for $499,900 and sold for $562,000. The home featured an updated kitchen, fully framed in basement, huge backyard and approximately 850 square feet of living space.
This East Hamiton bungalow was listed for $399,900 and sold for $586,000. The all-brick house located on an ample corner lot featured four-bedrooms, two bathrooms, a basement in-law suite with a separate entrance and an eat-in kitchen.
Listed for $599,000, this East Mountain bungalow/raised ranch home ended up selling for $650,000. The all-brick home with attached garage feature 2 + 2 bedrooms and two bathrooms, fully finished basement and just under 1,000 square feet of living space.
This Stoney Creek semi-detached home was listed for $649,900 and sold for $665,000. It featured updates throughout, four bedrooms, two bathrooms, open-concept design and all situated on a massive pie-shaped lot.
This West Mountain custom-built home was listed for $949,888 and sold for $991,000. It featured four bedrooms, three bathrooms, huge finished basement, bright, open-concept design and plenty of character.
Located in a desirable neighbourhood on the West Mountain, this hme was listed for $899,900 and sold for $1,003,000. This fully-renovated home featured five bedrooms, four bathrooms, massive chef’s kitchen, finished basement with another kitchen and floor-to-ceiling windows.
This home, located on the West Mountain, was listed for $1,179,990 and sold for $1,120,000. It boasted 4 + 1 bedrooms, three bathrooms, sleek, modern, open-concept design, two kitchens and a basement walkout to a spacious backyard.
This East Hamilton property was listed for $1,219,900 and sold for $1,194,000. This all brick and stucco, custom-built home featured four bedrooms, three bathrooms, a gourmet kitchen, open-concept design, high ceilings and hardwood floors throughout.
Located in West Hamilton, this historic Tudor-style home was listed for $1,050,00 and sold for $1,300,000. It featured six bedrooms, two bathrooms, more than 2,500 square feet, huge windows and plenty of charm in one of Hamilton’s most prestigious neighbourhoods nestled within the shadow of the escarpment.
Main photo courtesy The Canadian Press. Data shared by Zoocasa