Inventory increase suggests Hamilton area looking better for first-time buyers: RAHB
The average residential price across the market moved to $791,551 in January compared to the same month in 2022 when prices were around 25 per cent higher, and over $1 million.Unit sales were down 26 per cent from January 2022 with just 540 units moving from inventory that spiked 285 per cent year over year to 1,577 homes.
Hamilton proper accounted for 349 of the units sold last month, marking a 21-per cent decline in sales year over year.The average residential price also slipped January to January, dropping to $750,529 with a detached home in the city costing $809,019 and an apartment going for $531,397.
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