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MARKET REPORT DECEMBER 2020 Main Photo

MARKET REPORT DECEMBER 2020


Hot December caps a tumultuous year!
Posted: January 07, 2021 by Ron Hunter

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 913 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in December 2020. Sales were down 25.95 per cent over last month, but up 41.6 per cent over December of last year. New listings were down 47.87 per cent over November 2020 and up 34 per cent over last December. The average price for residential properties was $729,853, which was up 1.04 per cent from last month and up 25.4 per cent from December 2019. The number of active listings available at the end of the month was 52.2 per cent lower compared to the previous year.

“We can see that the market has slowed from November, which is normal due to the holiday season, as well as increasing COVID-19 cases throughout the province, and more regions in Ontario placed into lockdown throughout December,” says RAHB President Donna Bacher. “Despite being in either the Red Zone (Control) or Grey Zone (Lockdown) throughout December, we do not see the effects on the number of sales and new listings that we did in the spring lockdown. This activity could be the result of continued low interest rates, coupled with increasing consumer confidence due to the approval of the COVID-19 vaccine in Canada.”

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