The Rate of New Listings Remained Consistent with 2024 Levels
In June, there were 831 sales across Hamilton, Burlington, Haldimand County, and Niagara North. The slowdown in sales represented a six per cent decrease compared to the same period last year and contributed to a year-to-date decline of 20 per cent. This drop in sales marks the slowest start to the year since 2010.
“While some markets across Canada are showing signs of stability with more balanced conditions, including the Waterloo Region, the Hamilton-Burlington area is still experiencing subdued sales, putting downward pressure on home sale prices,” says Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area. “While global market uncertainty has some buyers waiting on the sidelines, growing inventory levels and softer prices present a unique window of opportunity for those with a stable income and savings who are ready to leverage today’s market conditions to their advantage.”
Von Bredow continues, “The Hamilton-Burlington market area consists of several communities and neighbourhoods that often display results that differ from the region’s overall average. Each neighbourhood has its unique characteristics, which can make it challenging to determine the right price and conditions when buying or selling a property. Local REALTORS® have the experience, knowledge, and tools necessary to assist buyers and sellers in making informed decisions. They know the questions to ask, the areas to probe and what to look for to get a complete picture of the property and community you’re considering.”
The number of new listings remained in line with last year’s levels, but the pullback in sales kept the sales-to-new listings ratio relatively low at 40 per cent. The months of supply increased to nearly five months, giving way to softer prices.
In June, the unadjusted benchmark price was $776,300, down from the previous month and nearly nine per cent lower than last June. The June benchmark price eased across all areas within the region and across all property types.
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.
View All Hamilton-Burlington Area Monthly Stats Package
View Hamilton Region Monthly Stats Package
View Burlington Region Monthly Stats Package
View Haldimand Region Monthly Stats Package
View Niagara North Monthly Stats Package
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