Local realtors say that the average price of a home in Hamilton would be close to $ 786,000, while shoppers in Burlington would likely pay more than a million dollars.
According to the Association of Realtors of Hamilton-Burlington (RAHB), sales activity in the Hamilton-Burlington market was eight percent lower than in March 2021, slightly affecting the average price of a home.
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The estimated price of a house in the Hamilton-Burlington area as of the end of April is 855,455, a drop of nearly two percent on the month.
New listings have also fallen by about three per cent in the month, adding to the amount of available inventory – up 23 per cent since March.
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Year after year, the number in every category is significantly higher than 2021, however, RAHB President Donna Bacher said the market was considered volatile amid the first wave of the COVID-19 pandemic.
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“We have to accept that COVID-19 epidemic malformations have an impact on housing statistics when comparing year to year, so instead of looking from 2020 to 2021, our best insights come from a month of analysis,” Bacher said.
Homes in both Hamilton and Burlington cost more than $ 200,000, which they did in April of 2021. Last year’s average prices in cities were $ 555,543 and $ 807,927, respectively.
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Despite a slight decline from $ 737,124 in March to 736,847 in April, the mountain is still the most expensive place to buy a home in Hamilton.
The Hamilton Center is slightly more affordable at $ 576,951.
Burlington purchased more than 400 homes in the area during March, which averaged $ 1,057,973.
RAHB states that in April 2021 there were 1,906 sales of residential properties in both cities.
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