Hamilton’s real estate market has reached an eye-popping record high.
A report from the Realtors Association of Hamilton-Burlington (RAHB) detailed the statistics from 718 residential property sales in the RAHB market area in January 2022, which includes Hamilton, Burlington, Haldimand County, and some of the Niagara region.
The Realtors Association of Hamilton-Burlington says January saw record-high home prices.https://t.co/dTMayJKKXb
— CHCH News (@CHCHNews) February 3, 2022
The report reveals that the average home price in the market area for January was $1,058,756, topping the 7-figure mark for the first time ever at an increase of 13.6 per cent from the previous month.
RAHB president Lou Piriano further breaks down the averages by region for all residential property types, with the average sale price in Hamilton being $976,423, Burlington at $1,369,337, Niagara North at $1,045,801, and Haldimand County at $873,280.
That average is even higher for single-family detached properties, with Hamilton’s average at $1,089,916 and Burlington at $1,765,884.
It’s not hard to see why Hamilton is in the midst of an ongoing housing crisis, with the average property increasingly out of financial reach for many of the city’s aspiring homebuyers.
Read the full report here.