Winter 2022 Market Update | Smith-Dobrowky Team
Janaury 31, 2022
Hamilton/Burlington Market Update
The average price as of December 2021 for residential properties was $931,787 which was an increase of 2% since November 2021 and an increase of 27% from December 2020. New Listings dropped 50% since November and the inventory available dropped even further to 0.4 months of inventory. The average price of a detached home was $1,029,067 just shy of the record set in October 2021.
Key Findings for Burlington/Hamilton
New Listings Dropped 50% since November 
Average price detached home $1,029,067 up 27% from Dec. 2020 
Oakville/Milton Market Update
December sales outpaced newly listed properties for the first time since December 2020 and consequently the overall inventory fell to less than half the previous low mark and falling below 200 listings for the first time in a generation. So the market is still heavily favouring sellers at this time. The MLS Home Price Index (HPI) was $1,516,800 in December 2020 up a sharp 36.4% vs December 2020. For single family homes is was $1,690,500 or up 40.2% vs December 2020. By comparison the price for Townhomes was $812,800 a gain of 26.3% vs Dec 2020 and Apartments rose 22% to $736,800.
Key Findings for Oakville/Milton
Below 200 listings for the first time in a generation!Average price detached home $1,516,800 up 36.4% from Dec. 2020
Brantford Market Update
On an annual basis, home sales totalled a record 2758 units over the course of 2021 or an increase of 7.5% vs 2020. However the number or newly listed properties has been unable to keep up with the sales leading to soaring home prices. The benchmark price for a single family home was $737,800 a substantial 40.8% increase vs December 2020. By comparison, the benchmark price for townhouse/row units was $502,000, a jump of 37.7% compared to a year earlier, while the benchmark apartment price was $383,800, a significant gain of 36.7% from year-ago levels.
Key Findings for Brantford
Average price detached home $737,800 up 40.8% from Dec. 2020Average price townhouse/row unit $502,000 up 37.7% from prev. year.
Cambridge Market Update
The board only had the data posted for the chart below till the end of November 2021 but as you can see strong gains were realized in October which held into November 2021. The average sales price of a Single Family Home Freehold was $816,999 for December 2021 which was 31.51% higher vs December 2020 with an average days on market of just 15 days. With such intense competition for a limited pool of listings it is no wonder year over year growth is so high with no market pullback in sight for the foreseeable future.
Key Findings for Cambridge
Average price detached home $816,999 up 31.5% from Dec. 2020Average 15 days on market 
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Geoff Smith & Katrinna Smith-Dobrowsky
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