Real estate sales plunge in Hamilton and Burlington during COVID-19 pandemic: RAHB

Hamilton and Burlington real estate sales are about half of what they were aroundthe start of the localCOVID-19 pandemic according to a new report from the RealtorsAssociation of Hamilton-Burlington (RAHB).

The data shows sales have fallen by56 per cent over the last month and declined 63.4 per cent from the same time last year.

RAHB President Kathy Della-Nebbiasaid in a release the drop came after Premier Doug Ford announced school closures and began ushering in a series of pandemic-era restrictions.

The stats for the combined region of Hamilton, Burlington, Niagara North and Haldimandshowtherehave been roughly 1,000 fewer listings between March and April, about 500 fewer sales and a fall in the average property price from $660,000 to just under $620,000.

"In Hamilton, where we have the most activity, there was a larger drop in the average price week-over-week, but it began to increase nearing the end of the month,"Della-Nebbiasaid.

Some highlights from data comparing 2020 sales to 2019 sales in neighbourhoods shows:

• Hamilton West had18 sales in April 2020 compared to 80 in April 2019.
• Hamilton East had46 sales in April 2020 compared to 89 in April 2019.
• Hamilton Centrehad56 sales in April 2020 compared to 127 in April 2019.
• Hamilton Mountainhad74 sales in April 2020 compared to 188in April 2019.
• Stoney Creekhad52 sales in April 2020 compared to 126 in April 2019
• Burlingtonhad105 sales in April 2020 compared to 369 in April 2019.
• Grimsby had14 sales in April 2020 compared to 51 in April 2019.

Della-Nebbiasaid realtors have been using virtual open houses to try and drive sales during COVID-19.

The RAHB reportcomes after a separate report from thethe Canadian Real Estate Association, which showed sales in Hamilton-Burlington were down almost 25 per cent from February to March.