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MARKET REPORT - MAY 2021 Main Photo

MARKET REPORT - MAY 2021


Still a seller's market. Will that change in upcoming months?
Posted: June 06, 2021 by Ron Hunter

The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,811 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in May 2021. While sales were down five per cent since last month, they were up 90 per cent since May 2020. New listings were down 14 per cent since last month and up 73 per cent as of last May. The average price for residential properties was $843,468 which was down one per cent from last month and up 29 per cent from May 2020. The inventory available at the end of the month was 0.6 per cent lower than last month.

“In May 2021, the RAHB market area saw a very slight decrease in sales and number of properties being listed as compared to April 2021,” says RAHB President Donna Bacher.“We have to acknowledge that the impact of the COVID-19 pandemic distorts housing statistics when comparing year to year, so rather than looking at 2020 to 2021, our best insight comes from a month over month analysis – especially in a spring market.”

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