RAHB’s Latest Updates

LISTING GROWTH DRIVEN BY HIGHER PRICE PROPERTIES

Hamilton, ON (November 2, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 756 sales in October, similar to levels reported last month. While sales are below the ten-year average, new listings levels are higher than last year and support more balanced conditions when measured against sales. The adjustments in sales relative to new listings have caused inventory levels to rise from record lows, but inventories remain well below record highs.

“There is no question that we have seen a shift from the unsustainable activity that occurred throughout the pandemic as some of the supply challenges have eased,” says Lou Piriano, President of RAHB. “While fewer new properties are being listed below $800,000, there are more opportunities for buyers looking to move up in the market. The danger for both buyers and sellers can be trying to time the market. With conditions sometimes turning quickly or silently, it is important to talk to a professional RAHB REALTOR® who is plugged into the local market.”

For the moment, prices continue to trend down from the peak levels reported earlier this year, with the October benchmark price reaching $836,800, six per cent lower than in the same period last year. However, compared to home prices pre-pandemic, which were below $600,000, prices remain over 40 per cent higher than 2019 levels and 16 per cent higher than 2020 levels.

In the short term, varying price trends are likely to continue without action to combat inflation, higher interest rates and a lack of supply in lower priced homes. It remains imperative that all levels of government work together to tackle affordable and attainable housing supply challenges.

Please click the links below to access RAHB’s new monthly analysis packages by area:

 

HIGHER LENDING RATES WEIGH ON SALES IN SEPTEMBER

SUPPLY LEVELS RETURNING TO PRE-PANDEMIC LEVELS

Hamilton, ON (October 5, 2022) – Sales eased across all property types and regions in September, contributing to the lowest September sales since 2010.

“Significant gains in lending rates impacting affordability and concern regarding a housing correction has dampened consumer confidence. This is contributing to the decline in sales seen throughout our market,” says Lou Piriano, President of the REALTORS® Association of Hamilton-Burlington (RAHB).

The pullback in sales was also met with a gain in new listings supporting supply growth. While supply levels in September are significantly higher than the record lows seen last year, they have returned to levels similar to what was recorded in 2019 and remain well below historical highs.

“Adjustments in both supply and demand have shifted the market out of the extreme seller’s market conditions that persisted throughout most of 2020 and 2021 and into the first quarter of this year. With just over three months of supply, our market has not entirely shifted to favour the buyer, but it has cooled some of the consumer behaviour that contributed to last year’s price gain that pushed above 33 per cent.”

Shifting conditions have been weighing on home prices as the benchmark price for a typical home eased for the seventh consecutive month. Yet, despite the adjustments, prices still remain well above levels reported prior to the pandemic.

RAHB REALTORS® RELEASE AUGUST 2022 MARKET STATISTICS

Hamilton, ON (September 1, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 906 sales of residential properties within the RAHB market area through the Multiple Listing Service® (MLS®) System in August 2022. The number of sales were up by 11.7 per cent from July 2022 and down by 24.2 per cent compared to August 2021. There were 1,641 new listings in August 2022, which was down eight per cent from July 2022, and compared to August 2021, there was an increase in listings of 20 per cent. The average sale price for residential properties across the RAHB market area was $858,405, which was down 2.3 per cent from July 2022, and up two per cent compared to August 2021. There were 2.6 months of inventory in August 2022 compared to 3.1 months in July 2022.

*The news release will be posted to www.rahb.ca/market-stats/ on September 2, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RAHB REALTORS® RELEASE JULY 2022 MARKET STATISTICS

Hamilton, ON (August 2, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 811 sales of residential properties within the RAHB market area through the Multiple Listing Service® (MLS®) System in July 2022. Sales were down by 18.5 per cent from June 2022 and down by 35.6 per cent compared to July 2021. There were 1,783 new listings in July 2022, which was down 29.9 per cent from June 2022, and compared to July 2021, there was an increase in listings of 18.6 per cent. The average sale price for residential properties across the RAHB market area was $878,816, which was down 7.1 per cent from June 2022, and up 3.9 per cent compared to July 2021. There were 3.1 months of inventory* in July 2022 compared to 2.6 months in June 2022.

*The news release will be posted to www.rahb.ca/market-stats/ on August 3, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RAHB REALTORS® RELEASE JUNE 2022 MARKET STATISTICS

Hamilton, ON (July 4, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 995 sales of residential properties within the RAHB market area through the Multiple Listing Service® (MLS®) System in June 2022. Sales were down by 19.2 per cent month over month and down by 37.8 per cent compared to June 2021. There were 2,543 new listings in June, which was down 3.3 per cent month over month, and compared to June 2021, there was an increase of 27.1 per cent. The average sale price for residential properties across the RAHB market area was $946,026, which was down 5 per cent over the previous month, and up 9 per cent compared to June 2021. There were 2.6 months of inventory in June compared to 1.7 months in May.

*The news release will be posted to www.rahb.ca/market-stats/ on July 5, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RAHB REALTORS® SHOW THEIR GENEROSITY

LOCAL SHELTER-BASED CHARITIES ARE ENCOURAGED TO APPLY FOR A 2022 GRANT

Hamilton, ON (June 9, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) issued a cheque to the Ontario REALTORS Care® Foundation (ORCF) for more than $200,000 in May – the largest single donation RAHB has made to the ORCF. The ORCF, funded by the Ontario Real Estate Association, has raised more than six million dollars for shelter-related organizations throughout the province on behalf of Ontario REALTORS® over the last 40 years. The donation from RAHB is earmarked for shelter-based charities in Hamilton, Burlington, Haldimand and Niagara North.

“The pandemic and skyrocketing housing prices in the RAHB market area highlighted the need for more support for shelter-based charities in our local communities. As a result, the RAHB board of directors decided last year to close out its scholarship program after reviewing its charitable giving policy and direct the remaining scholarship funds to the ORCF,” said 2022 RAHB President Lou Piriano. “RAHB has a long history of supporting and donating to charities in the RAHB market area – through direct contributions, the ORCF, or volunteering. RAHB members are thrilled to give back to our communities.”

Through monthly donations from members, RAHB was able to provide $41,676 to local charities through an ORCF grant in 2021. Charities that received funding last year include:

  • Carpenter Hospice
  • Good Shepherd Family Centre
  • Hamilton Health Science Foundation
  • Indwell Community Homes
  • Joseph Brant Hospital
  • March of Dimes Canada Non-Profit Housing Corporation
  • Mark Preece Family House – Jason’s House
  • Mission Services of Hamilton – Inasmuch House
  • Neighbour to Neighbour
  • Restoration Second Stage Homes
  • The Salvation Army – Hamilton Booth Centre
  • Shifra Home Inc.
  • YWCA – Phoenix Place

In 2021, an additional $41,000 was raised by REALTOR® members to support local Habitat for Humanity builds through RAHB’s first-ever walk-a-thon. In addition, during REALTORS Care® Week in November, RAHB donated $5,000 to the Hagersville Food Bank, Burlington Food Bank and GBF Community Services and provided volunteer hours during a build for Habitat for Humanity Hamilton and the Good Shepherd.

RAHB has also responded to calls for help when it is needed. Most notably, in 2021, RAHB donated to the Red Cross for flood relief efforts in British Columbia and Newfoundland and this year, RAHB issued a $15,000 donation to the Red Cross Ukraine Humanitarian Crisis Appeal to help offset the hardships caused by the ongoing conflict in Ukraine.

For the remainder of this year, RAHB has over $44,000 available to distribute to shelter-related registered charities in the RAHB market area through an ORCF grant. The ORCF defines shelter as a refuge, haven or protection that provides or improves quality of life from hunger, the elements, physical/psychological abuse, disabilities, and illness. Organizations that fit that definition are encouraged to contact RAHB to obtain a grant application before September 1, 2022.

RAHB is committed to supporting causes and organizations in their communities as well as others facing shelter emergencies in Canada and abroad.

– 30 –

RAHB REALTORS® RELEASE MAY 2022 MARKET STATISTICS

Hamilton, ON (June 2, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,232 sales of residential properties within the RAHB market area through the Multiple Listing Service® (MLS®) System in May 2022. Sales were down by 5.1 per cent month over month and down by 31.9 per cent compared to May 2021. There were 2,631 new listings in May, which was up 7.3 per cent month over month, and compared to May 2021, there was an increase of 16 per cent. The average sale price for residential properties across the RAHB market area was $995,408, which was down 1.7 per cent over the previous month, and up 17.6 per cent compared to May 2021. There were 1.7 months of inventory in May compared to 1.2 months in April.

*The news release will be posted to www.rahb.ca/market-stats/ on June 3, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RAHB REALTORS® RELEASE APRIL 2022 MARKET STATISTICS

Hamilton, ON (May 2, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,298 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in April 2022. Sales were down by 20.7 per cent month over month, and down by 31.3 per cent compared to April 2021. There were 2,451 new listings in April, which was down 3.6 per cent month over month, and compared to April 2021, there was a decrease of 7 per cent. The average sale price for residential properties across the RAHB market area was $1,013,081, which was down 5.6 per cent over the previous month, and up 18.2 per cent compared to April 2021. The inventory of listings increased to 1.2 months of inventory in April compared to 0.7 months in March.

*The news release will be posted to www.rahb.ca/market-stats/ on May 3, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

STRONG LISTINGS AND SALES ACTIVITY IN MARCH

Hamilton, ON (April 1, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,637 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in March 2022. Sales were up by 33.3 per cent month over month, and down by 21.1 per cent compared to March 2021. There were 2,542 new listings in March, which was up 51.7 per cent month over month, but compared to March 2021, there was a decrease of 6.2 per cent. The average sale price for residential properties across the RAHB market area was $1,073,342, which was down 2.7 per cent over the previous month, and up 22.8 per cent compared to March 2021. The inventory of listings remains low at 0.7 months. 

*The news release will be posted to www.rahb.ca/market-stats/ on April 4, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

SALES AND NEW LISTINGS CLIMB IN FEBRUARY

Hamilton, ON (March 1, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,228 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in February 2022. Sales were up by 71 per cent month over month, and down by 4.4 per cent compared to February 2021. There were 1,675 new listings in February, which was up 84.2 per cent month over month, but compared to February 2021, there was only a 1.2 per cent increase. The average price for residential properties was $1,104,163, which was an increase of 4.2 per cent over last month, and an increase of 30.3 per cent compared to February 2021. The inventory of listings remains low at 0.6 months.

*The news release will be posted to www.rahb.ca/market-stats/ on March 2, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RECORD-HIGH AVERAGE RESIDENTIAL SALE PRICE TO START 2022

Hamilton, ON (February 1, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 718 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in January 2022. Sales decreased by 11 per cent in January, down 13.5 per cent compared to January 2021. New listings increased by 40.9 per cent in January, down 11 per cent compared to January 2021. The average price for residential properties was $1,058,756, which was an increase of 13.6 per cent from December, and an increase of 34.7 per cent compared to January 2021. The inventory of active listings remains low at 0.6 months.

*The news release will be posted to www.rahb.ca/market-stats/ on February 2, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RAHB REALTORS® Release 2021 Year-End Statistics

Hamilton, ON (January 18, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 16,502 sales of residential properties processed through the Multiple Listing Service® (MLS®) System in 2021. This is an 10.5 per cent increase from 2020. The average price of a residential property in 2021 was $867,560 across the RAHB market area. This is up 25.74 per cent from 2020. The average price in 2011 was $321,449 which represents a 169.89 per cent increase over ten years. New residential listings increased by 7.7 per cent compared to 2020.

*The news release will be posted to www.rahb.ca/market-stats/ on Thursday, January 20.*

Follow the links below for more 2021 year-end statistics:

Burlington

Hamilton

Haldimand

Niagara North

 

RAHB REALTORS® RELEASE DECEMBER 2021 MARKET STATISTICS

Hamilton, ON (January 4, 2022) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 811 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in December 2021. Sales decreased by 32 per cent since last month, and they were down 11 per cent since December 2020. New listings fell by nearly 50 per cent since last month and they were also down six per cent since last December. The average price for residential properties was $931,787 which was an increase of two per cent from last month compared to an increase of 27 per cent from December 2020. The inventory available dropped even further to 0.4 months of inventory.

*The news release will be posted to www.rahb.ca/market-stats/ on January 5, 2022.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RAHB REALTORS® RELEASE NOVEMBER 2021 MARKET STATISTICS

Hamilton, ON (December 1, 2021) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,199 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in November 2021. Sales decreased by nearly ten per cent since last month, and they were down three per cent since November 2020. New listings also decreased by ten per cent since last month and they were also down three per cent since last November. The average price for residential properties was $911,673 which was a decrease of one per cent from last month compared to an increase of nearly 27 per cent from November 2020. The inventory available dropped even further to 0.5 months of inventory.

*The news release will be posted to www.rahb.ca/market-stats/ on December 2, 2021.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

RAHB REALTORS® RELEASE OCTOBER 2021 MARKET STATISTICS

Hamilton, ON (November 2, 2021) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,329 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in October 2021. Sales increased eight per cent since last month, and they were down nearly 18 per cent since October 2020. New listings decreased by nine per cent since last month and they were down 23 per cent since last October. The average price for residential properties was $922,297 which was an increase of nearly five per cent from last month compared to an increase of 27 per cent from October 2020. The inventory available dropped even further to 0.6 months of inventory.

*The news release will be posted to www.rahb.ca/market-stats/ on November 3, 2021.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

Welcome New Members – October 2021

We extend a warm welcome to RAHB’s newest members who joined our association between October 1 and October 26, 2021!

Graeme Ryley
Ambitious Realty Advisors Inc.

Bradley Dykeman
Cushman & Wakefield ULC.

Anshul Goel
Sindee Khera
Natalie Forde
EXP Realty

Julie Johnson
America Olivia Torres Hernandez
EXP Realty of Canada Inc.

Bryce Hunter
Heritage Realty Inc.

Humza Bilal
Homelife Professionals Realty Inc.

Jennifer Gargoura
Home and Property Real Estate Ltd.

Rula Al-Azra’i
IPro Realty Ltd.

Alfonso Alongi
Carnel Destacamento
Don Higginbottom
Yousaf Khalid
Brad Labelle
Regina Marin Suarez
Keller Williams Complete Realty

Melissa De La Franier
Purplebricks

George Gilraine
Sunveer Mann
Brandi Reiber
Maggie Turner

RE/MAX Escarpment Realty Inc.

Cassandra Huckins
Hillary Violette
RE/MAX Escarpment Golfi Realty Inc.

Alaba Adegoke
Noelly Rey
RE/MAX Real Estate Centre Inc.

Vimal Kumar Sharma
Right At Home Realty Inc.

Jennifer Calvano
Rockhaven Realty Inc.

Crystal Atkinson
Jason Steltman
Royal LePage Burloak Real Estate Services

Dayna Fuciarelli
Garry Singh
Royal LePage Macro Realty

Barbara Pearl Nicholls
Royal LePage NRC Realty Inc.

Adrian Mauro
Royal LePage State Realty

Sam Al Hashlamoun
Royal LePage Real Estate Services Ltd.

Faiza Ahmed
Iryna Chadiuk
Amber Naveed
Zolo Realty

RAHB Director Nominations Now Open!

Nominations for the 2022 RAHB Board of Directors are now open!

Do you want to put your name forward or nominate another member? Check out the official information package, which includes:

For the RAHB Nominations Information Package, Click here. 

For the Notice of Election Meeting, Click here. 

We are encouraging members to submit names of fellow RAHB REALTORS® who you feel would be an effective leader for the Board of Directors. The Nominations Committee will do the follow-up to ensure this ideal candidate applies.

If you know of a RAHB member who ticks off all the boxes to be a great leader, please send the name to nominations@rahb.ca.

If you have any questions about the meeting, the election process or the information included in the Notice of Meeting, please contact Carolyn Infurnari at carolyni@rahb.ca.

Thank you in advance for your consideration, as well as your candidate suggestions, and we look forward to another excellent election!

RAHB REALTORS® RELEASE SEPTEMBER 2021 MARKET STATISTICS

Hamilton, ON (October 1, 2021) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,226 sales of residential properties located within the RAHB market area through the Multiple Listing Service® (MLS®) System in September 2021. Sales increased two per cent since last month, and they were down nearly 30 per cent since September 2020. New listings increased by 14 per cent since last month and down 26 per cent since last September. The average price for residential properties was $881,656 which was an increase of nearly five per cent from last month compared to an increase of 22 per cent from September 2020. The inventory available remained unchanged from August 2021 at 0.8 months of inventory.

*The news release will be posted to www.rahb.ca/market-stats/ on October 4, 2021.*

Follow the links below for: 

Burlington

Haldimand 

Hamilton

Niagara North

Welcome New Members – September 2021

We extend a warm welcome to RAHB’s newest members who joined our association between September 1 and September 29, 2021!

Schann Sharma
Cirrius Realty Inc.

Katie Ego
Davenport Realty

Colleen Readhead
Davies Real Estate Ltd.

Faizel Bhabha
Simmi Walia

EXP Realty of Canada Inc.

Kris Hayashi
HomeLife/Response Realty Inc., Brokerage

Ryan Daye
Muhammad Arif Minhas
Housesigma Inc.

Shoaib Ghani
IPRO Realty Ltd.

Landon Ali
Sarah O’Shea
Shirley Shi
Keller Williams Complete Realty

Hardeep Mand
Gayathri Thavan
Keller Williams Edge Realty

Dennis Rego
Platinum Lion Realty Inc.

Katy Jobe
PureRealty Brokerage

Kate Mayster
Mark McLeod
William Paul
Realty Network : 100 Inc.

Alexa DiBellonia
Re/Max Realty Enterprises Inc.

Harpreet Cheema
Maxine Cortez
Adam Davidson
Karim Kadry
RE/MAX Escarpment Golfi Realty Inc.

Colin Cannella
RE/MAX Escarpment Frank Realty

Julie Bezusko
Robert Bragdon
Pooja Kumar
Jeff Margolis
RE/MAX Escarpment Realty Inc.

Yogesh Patel
Janet Rizzi
RE/MAX Real Estate Centre Inc.

Teo Marin
Adam Rajewski
Trevor Rodrigues
Right At Home Realty Inc.

Madeline DiNunzio
Julia Stephens
Royal LePage Burloak Real Estate Services

Onkar Chahal
Royal LePage Macro Realty

Mirjana Rendulic
StreetCity Realty Inc. Brokerage

Danielle Santos
Zoocasa Realty Inc.

OREA Vaccination Passport FAQ

VACCINATION PASSPORT FAQ

As of today, September 22nd, Ontario will require people to provide proof of vaccination status to access certain businesses and settings.

How does the new vaccination policy impact real estate?

OREA has consulted with the provincial government, real estate and legal experts and assembled the information you need to assist in your ongoing efforts to keep your clients, your brokerage, and communities safe. The FAQ below provides information to Members on issues like medical exemptions, real estate listings and working with unvaccinated clients.

As Ontario continues to navigate this fourth wave of the pandemic, it’s essential that we do our part as Ontario REALTORS® to minimize the spread of the COVID-19 virus. If you are not already vaccinated, unless you have a medical exemption, we strongly encourage you to do so. In addition to the guidance below, we encourage Members to continue to use technology and virtual tools first and to the greatest extent possible to reduce the need for in-person contact.

Together, we can help end this pandemic and get our province back to normal.

If you have follow-up questions, please reach out to info@orea.com and one of our team members will get back to you as soon as possible.

Sincerely,
David Oikle
OREA President

Disclaimer: The guidance contained in this post is for information purposes only and is not meant to be relied upon as legal advice by REALTORS®, or others. Members wishing further clarity or advice should seek independent legal advice specific to their circumstances.


HOW THE VACCINATION CERTIFICATION SYSTEM WORKS

As of September 22, 2021, Ontarians will need to be fully vaccinated (two doses plus 14 days) and provide their proof of vaccination along with photo ID to access certain public settings and facilities. The government approach focuses on high-risk indoor public settings where face coverings cannot always be worn and includes:

  • Restaurants and bars (excluding outdoor patios, as well as delivery and takeout).
  • Nightclubs (including outdoor areas).
  • Meeting and event spaces, such as banquet halls and conference/convention centres.
  • Facilities used for sports and fitness activities and personal fitness training, such as gyms, fitness and recreational facilities with the exception of youth recreational sport.
  • Sporting events.
  • Casinos, bingo halls and gaming establishments.
  • Concerts, music festivals, theatres and cinemas.
  • Strip clubs, bathhouses and sex clubs.
  • Racing venues (e.g. horse racing).

Vaccination verification certificates will not be required when accessing necessary medical care, grocery stores or other essential services and establishments.

Unvaccinated people with medical exemptions (including those who may be allergic or had a reaction to their first vaccine) will not be required to provide proof of vaccination, provided they can produce an appropriate doctor’s note, at least until recognized medical exemptions can be integrated as part of a digital vaccine certificate.

All Ontarians can print or download their vaccination receipt from the provincial booking portal. The Ministry is working on additional supports and services to assist Ontario residents who need help obtaining proof of vaccination, including requesting a copy be sent by mail. Those who need support obtaining a copy of their vaccination receipt including those who do not have access to a computer or printer can call the Provincial Vaccine Contact Centre at 1-833-943-3900.

Ontario is developing an enhanced vaccine certificate with a unique QR code to make it safer, more secure and convenient to show that you have been vaccinated, when required to do so. The enhanced vaccine certificate and verification app will be available by October 22, 2021. Ontario’s proof of vaccination guidance will be updated to reflect the new processes.

To see more of OREA’s Vaccination FAQ – Click here. 

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