For the second consecutive month, sales activity has improved compared to the same period last year. However, with 757 sales across Hamilton, Burlington, Haldimand County, and Niagara North, levels remain over 30 per cent lower than typical August figures.
“While overall sales remain significantly below the typical levels for August, it’s very encouraging to see an increase in year-over-year sales activity for the second month in a row,” says Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area. “The rise in new listings has created a more balanced market, and with inventory levels still elevated, buyers are benefiting from lower home prices. As we move forward, we remain cautiously optimistic about a sustained market recovery, particularly due to ongoing buyer interest.”
The number of new listings rose to 1,601 in August, high enough relative to sales to keep the sales-to-new listings ratio low at 47 per cent. Inventory levels trended down slightly over last month, which is consistent with seasonal trends. However, they did remain nearly 15 per cent higher than last year’s levels and have not been this high for the month of August since 2011.
In August, the unadjusted benchmark price was $754,000, down over last month and 10 per cent lower than prices reported a year ago. Prices have mostly trended down since the second half of 2024 across the region.
The statistics provided in this report are based on information from the ITSO MLS® System. Multiple MLS®Systems operate within Ontario, and while none can be guaranteed to include every property listed or sold within a given area, they effectively illustrate market trends.
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