For those who LOVE Real Estate statistics, heres your fix for the month. The information discussed below covers the month of October 2016 vs the same month last year. Some of the numbers are STAGGERING!

Hamilton: October 2015 vs 2016

This image shows some of the significant changes we’ve seen from last October. Average sale price is up 22.8%! This is due to high buyer demand and low supply. End of month inventory was down 31.4%. This causes bidding wars, soaring prices and less days on market.

Burlington: October 2015 vs 2016

Much is the same in Burlington but some may be surprised to see that Hamilton outpaced Burlington in average price increase for the month with 22.8% for Hamilton vs 13.1% for Burlington. This does not change the fact that on average Burlington prices are MUCH higher than Hamilton ($648,437 vs $441,619). Days on Market and Inventory were also down significantly.

Hamilton Breakdown by Area

There are some very interesting numbers in the chart above. Although some of the average prices can be skewed due to a few high end sales these most of these numbers are a fair representation of the area. Below is a breakdown of the Increase for each area. Some of these increases are insane!

Hamilton West: 18.2%

Hamilton East: 39.4%

Hamilton Central: 24.9%

Hamilton Mountain: 30.4%

Burlington: 13.1%

Ancaster: 29%

Dundas: 13.5%

Flamborough: 22.1%

Waterdown: 2.2%

Grimsby: 46.8%

Glanbrook: 14.8%

Dunnville: 1.4%

Caledonia: 8.1%

 

There you have it! In a nutshell; prices are up, inventory is low, lot of buyer demand despite the new mortgage rules.

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