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BENCHMARK PRICES TREND UP ACROSS ALL REGIONS

Hamilton, ON (April 2, 2024)–

Sales in March reached 996 units, nearly six per cent lower than last year’s levels. The decline in March sales was not enough to offset the gains reported over the first two months of 2024. However, first-quarter sales in the region remain below long-term trends for the year.

RE-SALE PRICES REALTIVELY STABLE

Hamilton, ON (March 1, 2024)–

February sales reached 839 units, a modest gain compared to last year.While the leap year provided an additional day of activity, it did not impact Haldimand County, where sales activity slowed compared to the previous year. However, substantial gains were reported in Niagara North and Burlington, offsetting the pullbacks in Haldimand. Year-to-date sales are nine per cent higher than last but 16 per cent below long-term trends.

PRICES EASED FROM 2022 RECORD HIGH

Hamilton, ON (Jan 2, 2024) –

For the second year in a row, the REALTORS® Association of Hamilton-Burlington (RAHB) reported a decline in residential sales. In 2023, sales were 11 per cent lower than the previous year and nearly 30 per cent below long-term trends for the region.

NOVEMBER SUPPLY LEVELS 32 PER CENT HIGHER THAN TYPICAL LEVELS FOR THE MONTH

Hamilton, ON (Dec 1, 2023) –

The REALTORS® Association of Hamilton-Burlington (RAHB) reported declines in November sales, making it one of the weakest Novembers since 2010. Rising sales for apartment-style and semi-detached homes were insufficient to offset pullbacks in detached and row home sales. Year-to-date sales are down by 11 per cent over last year and are 30 per cent below the long-term trends.

RISING SUPPLY COMPARED TO SALES IS PLACING DOWNWARD PRESSURE ON HOME PRICES

Hamilton, ON (November 1, 2023)  – For the second month in a row, the REALTORS® Association of Hamilton-Burlington (RAHB) reported gains in new listings. Supply levels reached highs for the month of October not seen in nearly a decade. Increased supply is welcome news for buyers who now have more choice and flexibility in their homebuying decisions. 

September Months of Supply reached the highest seen since 2012

Hamilton, ON (October 3, 2023)  – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 620 home sales in September, the slowest level of activity seen for this month since 2010. The 18 per cent decline in sales was met with a surge in new listings. The combined impact of lower sales and higher new listings caused the sales-to-new listings ratio to fall to 30 per cent. There was a 19 per cent gain in inventory, which is 12 per cent higher than last year.  

Higher-priced properties driving the decline in sales

Hamilton, ON (September 5, 2023)  – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 795 sales in August, down 78 compared to last August when we saw 873 sales. The decline represents a year-to-date decline of 11 per cent. While sales have improved in the lower price ranges, they have not offset the declines driven by homes priced above $800,000.

Market shifts toward more balanced conditions in July

Hamilton, ON (August 1, 2023) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 797 sales across the region in July 2023, a decline of 292 sales over the previous month but a gain over levels reported in July 2022. The sales to new listings ratio fell to 44 per cent, with 1,840 new listings reported. The number of new listings increased relative to sales, causing inventories to trend up over the last month and levels reported earlier this year.

Hamilton, ON (July 5, 2023) – The REALTORS® Association of Hamilton-Burlington (RAHB) reported 1,115 sales in June. This represents a decrease of 182 units sold over the previous month. Despite the month-over-month decline, sales are up 19 per cent over last year. The monthly pullback in sales was not met with the same level of pullback in new listings, which supported some modest inventory gains over the previous month. Still, inventory levels remain more than 20 per cent lower than long-term trends for June. The increase in new listings caused market conditions to ease slightly compared to the previous three months.