Real Estate Market Statistics for April 2022
The REALTORS® Association of Hamilton-Burlington (RAHB) reported a total of 1,298 sales in April 2022 of residential properties within the RAHB market area. These statistics include the entire RAHB real estate market area. This was a 20.7 per cent decrease in sales month over month and a 31.3 per cent decrease when compared to the same time last year.
It was reported that there were 2,451 new listings in the entire RAHB real estate market area. This means that there was a 3.6 per cent decrease month over month and a 7 per cent decrease when compared to April 2021.
The average price of a residential property within the RAHB market area was reported to have been $1,013,081. This was a 5.6 per cent decrease compared to March 2021 and an 18.2 per cent decrease compared to the same time last year.
We can now review the chart below and learn more about the different areas within the RAHB market area. We can then compare the average sale price and the number of sales to the same time last year.
Residential Market Activity
Let’s review the above chart, Residential Market Activity, and get a closer look at Real Estate Market Statistics for April 2022. We can see what the average residential price was for a property in April 2022. This chart will also allow us to see the number of sales in each area as well and then we can compare that to the same time last year.
RAHB reported that in Hamilton West there were a total of 62 sales in April 2022. It’s also clear that there was a decrease in sales, however, the average sale price of a residential property had an increase. The average price of a property in Hamilton West was reported to have been $827,556.
In Hamilton Centre we also see the same when it comes to the number of sales versus the average price of a residential property. That while the cost of a property had a clear increase, the number of sales had decrease when compared to April 2021. The average price of a residential property in this area was reported to have been $680,043 and there were a total of 115 sales.
Finally we can take a look at the Burlington area, it was reported that there were a total of 276 sales in April 2022. The average price of a residential property was reported to have been $1,228,723. Just as mentioned in the other two areas, we can see that while there was a clear decrease in the number of sales, we saw an increase in the average cost of a residential property. We can get an even closer look at the Burlington area by reviewing the below map, Average Price by District.
Average Price by District
When we review the above map, Average Price by District, we are able to see not only the average price of a residential property within each area bit also the amount of sales. There are sub areas that we need to take note of, these areas had the greatest number of sales in April 2022, those sub areas are, 31, 32, 34 and 35.
Taking a closer look at the sub areas it becomes clear that area 35, located in Millcroft, had the greatest number of sales in April 2022. This area had a total of 99 sales with an average property price of $1,077,328.
The sub area that had the highest average residential property price was area 38. The average price was reported to have been $1,897,500. This area had a total of 2 sales, but it is important to note that it did have the highest average residential property price. To get an overall look at Burlington’s real estate statistics for April 2022, we can now review the final chart the, Burlington Residential Table.
Burlington Residential Table
The final chart that we will be reviewing is the, Burlington Residential Table, this chart allows us to see the overall real estate statistics for Burlington. RAHB reported that in April 2022 there were total of 276 sales of residential properties. This was a 31.2 per cent decrease when we compare the number of sales to April 2021.
New listings had a 4.7 per cent increase when compared to the same time last year, with a total of 517. The average residential property price was reported to have been $1,228,723, which is a 15.7 per cent increase compared to the same time last year.
With the median price having been $1,094,500 in April 2022, this was a 16.4 per cent increase compared to the previous year. It’s interesting to review these numbers because are able to understand the real estate market a bit better. It seems that while sales may have been lower in some areas the price of a residential property appeared to have increased in April 2022.
Detached, Townhouse and Apartment-Style Properties
When it came to the number of detached homes within the RAHB real estate market area, there were a reported 867 sales. The average price of this type of property in April 2022 was reported to have been $1,135,779, this was an increase of 18.9 per cent when compared to April 2021.
Townhouse sales were reported by RAHB to have had a decrease of 27.7 per cent month over month. While they had a decrease of 38.9 per cent when compared to April 2021. The average price of a townhouse within the entire RAHB market area was reported to have been $865,862. This was an increase of 21.3 per cent when we compared it to the same time last year.
The sales of apartment-style properties had a decrease of 15.6 per cent compared to the same time last year, with a total go 184 sales. It was reported that when it came to the average price of an apartment-style property there was an increase of 20.3 per cent, with the price being $647,411.
The REALTORS® Association of Hamilton-Burlington April 2022 Statistics
To summarized, the REALTORS® Association of Hamilton-Burlington reported a total of 1,298 sales of residential properties. This was within the entire RAHB market area in April 2022, with a total of 2,451 new listings. We’re able to see that while the number of sales may have deceased in some areas, the average property price saw increases.
The number of sales of residential properties saw a 20.7 per cent decrease month over month and had a 31.3 per cent decrease when compared to the same time last year. However, it was reported that the average price of a residential property had an 18.2 per cent increase when compared to the April 2021. With the average price of a property in the RAHB market area having been reported to be $1,013,081 in April 2022.
“With the exception of last year, new listings coming to market exceed that of every other April for the last ten years. With the increase in inventory, buyers are finally experiencing more choices in the market. While inventory is still below the norm, we finally see signs of a more balanced market as the number of active listings increases.The rise in interest rates has likely attributed to a decrease in the number of sales month over month in every residential property category across the RAHB market area. While average prices remain strong, and still above the $1 million mark, we did experience another dip for the second month in a row.” – RAHB President Lou Piriano
For More Information About These Statistics
Are you interested in learning more about the April 2022 Burlington real estate market statistics? Please refer to the Burlington Real Estate Statistics for April 2022 to learn more.
Contact Lori VanDinther and Team
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