Hamilton, ON (February 2, 2021) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 825 sales of residential properties located within the RAHB market area were processed through the Multiple Listing Service® (MLS®) System in January 2021. Sales were down 9.6 per cent over last month but up 6.9 per cent over January of last year. New listings were up 47.3 per cent over December 2020 and down 16.2 per cent over last January. The average price for residential properties was $787,840, which was up 7.9 per cent from last month and up 27.6 per cent from January 2020. The number of active listings available at the end of the month was 53.2 per cent lower than the previous period in 2020.
“In the RAHB market area, we saw an increase in sales activity last month, compared to January 2020, despite a decline in new listings,” says RAHB President Donna Bacher. “Our sales to listings ratio of 81.6 per cent, second only to January 2017, tells us that the RAHB market area is firmly in a seller’s market. 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. 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.”