How did Hamilton’s 2018 real estate market perform?
The above infographic compares to the same month for this and previous years. It’s a snap shot but doesn’t tell the whole story! For a better understanding, look at data plotted below.
- The top plots are for fully detached homes, with average sale price on the left plot and the number of units sold on the right.
- The plots on the bottom show the performance of all other residential or “non-detached” properties.
Fully Detached Homes
- Average Price… After years of growth in Hamilton, we’re seeing a correction in detached home prices happen this year. While still strong pricing compared to previous years (the 2017 balloon aside) Hamilton has softened a bit. Not to worry, this is a reflection of areas closer to Toronto also correcting in their pricing. Currently we are seeing it starting to pick up a bit and Hamilton will see these prices further improve for 2019.
- Number of Sales Hamilton’s sales are down from the frenzy of previous years, but this allows buyers to buy with conditions and take their time to get the best value. Hamilton still has great homes at great prices, and this is the perfect time to go shopping for the right home in the right condition!
Non-Detached Homes (Semi, Towns, Condo Apartments)
- Average Price on non-detached homes is still healthy and has remained strong for Hamilton. This is also reflected in the…
- Number of Sales being very healthy in Hamilton for these properties!
The Market in Hamilton is stronger than most, detached prices have corrected a bit but still favourable compared to previous years. Great time to buy a detached home in Hamilton! For Non-Detached, we’re still seeing a good balanced market, not quite the deals of Detached homes, but appropriate for Hamilton as it continues it’s growth.
As always, this varies between specific areas and types of property, so if you really want to know what’s going on in your area, please contact me!
UNDERSTAND YOUR HOME’S VALUE
Knowing the actual value of your home in a quick moving market is not always easy…
- What were the factual sale prices of properties similar to yours?
- How do various differences impact the value?
- What is the market doing to your neighbourhood’s value?
It’s what we do, use our resources and experience to get detailed answers related to your home specifically. Please fill in the questions below to receive a detailed evaluation of your property. I do this personally for you using my knowledge and experience combined with factual data from your neighbourhood.
Or if you prefer, call me directly at 905-827-6606! I’d be delighted to hear from you….
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