Actual Property Market Statistics for February 2022
The REALTORS® Affiliation of Hamilton-Burlington (RAHB) reported a complete of 1,228 gross sales in February 2022 of residential properties throughout the RAHB market space. When it got here to the variety of gross sales, RAHB reported a rise of 71 per cent month over month. Nevertheless, when in comparison with February 2021, there was a 4.4 per cent lower.
RAHB reported that new listings had an 84.2 per cent enhance month over month. Once we evaluate the brand new listings to the identical time final yr, there was a slight lower of 1.2 per cent.
The typical value of a residential property value throughout the RAHB market space for February was reported to be $1,104,163. This was a 4.2 per cent enhance in comparison with the earlier month. This property value was additionally a 30.3 per cent enhance when in comparison with the identical time final yr.
Residential Market Exercise
Once we check out the above chart, Residential Market Exercise, we’re in a position to see what the typical value of a property was. Then we will evaluate it to the earlier yr. It additionally permits us to see different areas throughout the RAHB market space.
Hamilton West reported a complete of 76 gross sales of residential properties in February 2022. We are able to clearly see that this was a rise when in comparison with the identical time final yr. When it got here to the typical value of a residential property, it was reported to be $801,129, this was a rise when in comparison with the identical time final yr.
Let’s check out Hamilton Centre, for February it was reported that there have been a complete of 108 residential property gross sales. The typical value of a residential property on this space was reported to be $719,540. This was a rise after we take a look at what the value was in February 2021.
Lastly we’ll check out Burlington, it was reported that for February 2022 there have been a complete of 254 gross sales. This was a slight lower after we evaluate it to the identical time final yr. RAHB reported that the typical value of a residential property was $1,413,836, whereas in 2021 it was reported to have been $1,065,038. We are able to now check out the under map and get a better take a look at every space inside Burlington.
Common Worth by District
We are able to check out the above map, Common Worth by District, and actually get a great take a look at every space inside Burlington. You’ll discover that there are sub space permitting us to see extra focused areas. We are able to see what their common residential property value was an what number of gross sales there have been for the month.
Sub areas that we must always be aware of for February 2022 are 30, 31, 33 and 35. Every of those sub areas had the best variety of gross sales. Space 35 is positioned in probably the most wanted neighbourhood in Burlington. This neighbourhood is named Millcroft and it had the best variety of gross sales. Millcorft a complete of 69 gross sales, with a mean residential property value of $1,329,921.
One other space of notice to check out is space 38, this space had the very best common residential property value. It was reported to be $3,033,888. This space had a complete of 8 residential property gross sales for the month of February 2022. The subsequent and last chart that we’ll check out is the blow chart, Burlington Residential Desk.
Burlington Residential Desk
Lastly, we’ll check out the above chart, Burlington Residential Desk, illustrates a extra in-depth take a look at the true property statistics. We are able to clearly see that for the month of February there have been a complete of 254 gross sales of residential properties. This was a lower of 17.5 per cent when in comparison with the identical time final yr.
It was additionally reported that there have been a complete of 349 new listings. Which was a 7.2 per cent lower in comparison with February 2021. When it got here to the typical value of a residential property. It was reported to be $1,413,836, this was a 32.9 per cent enhance in comparison with the identical time final yr.
The median value of a property was reported to have had a 34.9 per cent enhance to $1,306,000. It’s all the time fascinating to check out these numbers and may get a greater understanding of the Burlington actual property market. Now we will summarize and get a better take a look at what the REALTORS® Affiliation of Hamilton-Burlington take into consideration these statistics.
The REALTORS® Affiliation of Hamilton-Burlington February 2022 Statistics
Once we summarize the statistics for the true property market in February 2022, we will see that the REALTORS® Affiliation of Hamilton-Burlington reported a complete of 1,228 gross sales. These gross sales had been reported to have been throughout the RAHB market space.
The gross sales of residential properties noticed a 71 per cent enhance month over month. Whereas the typical value of a property was reported to have been $1,104,163. This was an 4.2 per cent enhance in comparison with earlier month, and a 30.3 per cent enhance in comparison with February 2021. There have been a reported 1,675 new listings throughout the complete RAHB market space, which was an 84,2 per cent enhance month over month.
We are able to additionally take a better take a look at the variety of indifferent dwelling gross sales for February 2022. RAHB reported that there have been a complete of 815 gross sales, with a mean value of $1,250,027, this was a 2.3 per cent enhance. There have been additionally 1,142 new indifferent dwelling listings in February 2022, thats a 91.2 per cent enhance month over month.
There have been 221 townhouse gross sales in February 2022 and 186 gross sales of apartment-style properties. For apartment-style properties this was a ten.1 per cent enhance in comparison with the identical time final yr. For townhouse this was an 11.2 per cent lower when in comparison with February 2022.
“The variety of gross sales and new listings rose considerably month over month, and saved tempo with the feverish demand of February 2021. Nevertheless, whereas the variety of new listings surpassed every February during the last ten years, the demand continued to impression stock and gasoline the residential common sale value to a brand new record-high. In acknowledging that the typical sale value could be regarding to patrons, on the time of this launch, there have been greater than 100 residential indifferent properties of the five hundred out there that had been listed underneath $700,000. Due to this fact, if homeownership is in your bucket listing, you must seek the advice of an area RAHB REALTOR® that will help you navigate the market.” – RAHB President Lou Piriano.
For Extra Info About These Statistics
If you happen to’re fascinating in studying extra about these February 2022 actual property market statistics, please seek advice from the Burlington Actual Property Statistics for February 2022. You’re additionally in a position to contact Lori VanDinther and her crew as nicely.
Contact Lori and Workforce
Do you have got any questions concerning the Burlington actual property statistics for February 2022? Lori and her crew are ready and in a position to assist reply any that you simply may need. If you happen to’ve been questioning what your property is perhaps value, please give our What’s My House Value calculator a attempt.
Lori VanDinther and her crew would love to attach with you and show you how to discover the suitable dwelling. If you happen to’re please be at liberty to achieve out by way of telephone at (905) 632-2199, or by e-mail at [email protected].