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Realtors say home sales slow in Hamilton after strong start in March

The Realtors Association of Hamilton-Burlington says sales activity started to slow as the COVID-19 pandemic took hold in March.
The Realtors Association of Hamilton-Burlington says sales activity started to slow as the COVID-19 pandemic took hold in March. THE CANADIAN PRESS IMAGES/Lars Hagberg

The real estate sector isn’t immune from the effects of COVID-19, according to the Realtors Association of Hamilton-Burlington (RAHB)

The agency released its monthly report for March 2020 on Thursday, showing the sale of just under 1,100 residential properties in the region.

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The association says sales were actually up 10 per cent when compared to February 2020, but showed a marked decline compared to March 2019 — down 3.1 per cent.

RAHB President Kathy Della-Nebbia says that after seeing “growth” at the start of last month, there was a slowdown in activity after the coronavirus pandemic took hold in the community.

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She adds that realtors expect to continue to see a slowing of the market as the “unprecedented fight” against the virus continues in the weeks and months ahead.

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Della-Nebbia also stresses that realtors will work to be “part of the solution in the fight to flatten the curve, all the while servicing clients who are in great need of their assistance.”

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The average price for residential properties in Hamilton, Burlington, Grimsby, Smithville and Haldimand County increased to $658,161 in March, a year-to-year increase of 14.5 per cent.

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In Hamilton specifically, 723 properties changed hands last month at an average price of $605,140.