Overall, sales, new listings and inventory levels all trended down through the beginning of 2025, with figures remaining below long-term trends. While all areas in the region saw a dip in sales, Haldimand County stood out with a slight improvement over last year. Burlington, however, reported a more significant decline than Hamilton.
Despite recent interest rate cuts by the Bank of Canada, the expected impact on mortgage lending rates has been limited. Heightened economic risks are continuing to keep consumer confidence in check, which has resulted in a cautious start to the year and has dampened demand.
“As we move further into 2025, we remain optimistic. Buyers and sellers are taking a more measured approach, but the strength of our housing market, particularly in areas like Haldimand County, shows there are opportunities in every corner of the region.”
– Nicolas von Bredow, Cornerstone spokesperson for the HamiltonBurlington market area.
However, new listings continue to rise relative to sales, causing the sales-to-new-listings ratio to fall to 40 percent, marking the lowest January start since 2011. This increase in supply is contributing to inventory gains and pushing months of supply above four months.
Sales in 2024 were below long-term trends across every area in the Hamilton region. However, within the city of Hamilton, there was a pickup in sales in both Hamilton East and Hamilton Mountain, causing months of supply to average below three months in those areas. While this is higher than last year, it is lower than the approximately four months reported in Hamilton Centre and Hamilton West. Meanwhile, activity outside the city improved across all areas except Stoney Creek and Glanbrook, which reported a modest decline in sales.
JANUARY 2025 MARKET REPORT BY PROPERTY TYPE
Sales across different property types showed mixed results. An increase in inventory, coupled with a sales-to-new listings ratio that dropped to 40 per cent, put downward pressure on prices, particularly in the apartment condo sector, where the unadjusted benchmark price fell by 5.6 per cent compared to last year. The condo sector is currently a buyer’s market, with 6.5 months of supply. Detached homes saw higher months of supply than last year, particularly in the million-plus price range, with 3.8 months of supply overall. While apartment and detached sales slowed, areas like Dundas, Stoney Creek, and Glanbrook bucked the trend with stronger sales. Some regions, including Hamilton Centre, Hamilton West, and Farmborough, reported months of supply above five months.
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