Hamilton is seeing an increase in real estate prices through the end of 2018. The market is balanced with condos and single-family houses attracting multiple offers and selling quickly. Many young professionals are finding it more affordable to buy a condo in Hamilton, a city which offers proximity to Toronto and is less expensive than Toronto Condominiums.
– The average price of a home in the Hamilton-area is $516,790.
– The average price of a condominium increased by 8.9% to $344,422 in 2018.
– The average price of a two-storey home in Hamilton increased 5.1% to $606,671 in 2018.
– The average price of a bungalow rose to $509,384 in 2018.
It is a good time to invest in a property in Hamilton because of the steady increase in prices, availability of amenities such as educational institutes, entertainment and recreation, and a strong local economy. Hamilton has many different neighbourhoods where each area has ample services, schools, public libraries, recreation centres and grocery stores.
If you look at the average residential price by area, you’ll find that the areas that continue to do well are from the Hamilton Bay to the escarpment. Hot areas for 2018 are Hamilton Centre and the Hamilton Mountain. Areas that have the maximum average selling prices are Flamborough, Ancaster, Burlington, Hamilton West, Dundas, Waterdown, Glanbrook, and Stoney Creek. Average prices in these cities stood between $511,757 and $801,487 as of November 2018.
This new interest in Hamilton is seen in a 6.7% monthly rise in real estate prices here. A steady rise in condo prices is good news for those who wish to purchase a condo unit in Hamilton for living and investment, as it indicates healthy growth in the market brought about by consistent demand.
The Hamilton real estate market is seeing an upward trend with prices growing at a steady rate across the board. Young professionals who can’t afford a condo in Toronto yet wish to live close to the city are now looking at cities like Hamilton for an affordable condo that offers them value for money. This has created a new demand for condos in Hamilton.
The highest price increase is seen in condos with an 8.9% rise in prices. According to experts, the trend will continue with young professionals with families and retired couples looking for affordable housing options close to Toronto.
According to the Realtors Association of Hamilton-Burlington (RAHB), all major areas within RAHB’s market saw an increase in overall average sale price.
Hamilton is highly accessible with multiple transit options. It has an international and domestic airport – John C. Munro Hamilton International Airport. For easy access to Toronto and other areas, there’s the Hamilton GO train and bus station located at Hunter St E. The Hamilton Street Railway (HSR) offers residents convenient public transportation throughout the city.
As for travelling to downtown Toronto, GO Train and GO Bus Services make regular trips from Toronto Union Station to Hamilton. Bus lines offer regular service to Hamilton from many different locations offering comfort and convenience to the residents of Hamiton.
With a comprehensive bus system that offers service on 34 routes, travelling around the city is comfortable. All buses in Hamilton have bicycle racks and are air-conditioned.