Blog Category Archives: Local Hamilton Market Statistics

Hamilton – Burlington Real Estate Market Statistics for September 2024

The Cornerstone Association of REALTORS® (Cornerstone) has released its September 2024 real estate market statistics, providing a comprehensive look at the latest trends and developments in the region. This report covers the entire Cornerstone area, with a special emphasis on the Hamilton real estate market, offering valuable insights for buyers, sellers, and investors alike.

According to the report, Hamilton-Burlington saw an increase in total sales in September 2024 compared to the same period last year. However, despite this uptick, the broader long-term trends continue to show weaker performance. Year-to-date, sales have decreased by four percent compared to 2023, and they are 28 percent lower than the historical average for the area.

The report also highlighted an increase in new listings and overall inventory levels. As a result, the months of supply remained stable at around five months, contributing to ongoing buyer’s market conditions. This balanced market has also played a role in stabilizing residential property prices.

“In September, the unadjusted benchmark price was $831,500, down over last month and over two per cent lower than levels reported in the previous year. Prices have been trending down over the past four months and have offset the gains reported earlier this year, leaving the average year-to-date benchmark price one per cent below 2023 levels. So far this year, benchmark prices have eased across all property types, but the most significant adjustment has occurred for apartment-style homes.” – Cornerstone 

The next section of the report will focus on a detailed analysis of Hamilton's Residential Activity and Prices. This data will provide an even clearer picture of the local real estate market as it stood in September 2024, helping buyers and sellers navigate the evolving market landscape. 

Hamilton Residential Activity and Prices

The Residential Activity and Prices chart for September 2024 highlights several key trends in the Hamilton real estate market. According to the Cornerstone Association of REALTORS® (Cornerstone), 459 residential homes were sold in Hamilton during September, representing a 17.3 percent increase compared to the same period last year.

New Listings and Inventory Growth

The market also saw a surge in new listings, with 1,471 new homes listed for sale — a 14.3 percent increase year-over-year. This boost in supply contributed to a significant rise in inventory levels, which grew by 38.7 percent, totaling 2,471 units. As a result, the months of supply reached 5.4 months, up 18.2 percent from the previous year. These statistics reflect a more balanced market, offering more options for buyers while giving sellers insight into current competition.

Average Prices and Market Insights

In September, the average price of a residential property in Hamilton was $816,579, marking a 4.7 percent increase year-over-year. However, while the average price saw growth, market conditions indicate a stabilization in home prices due to the growing inventory.

As Cornerstone reported, "Higher supply levels compared to sales continued to weigh on home prices this month, although the pace of declines is showing signs of easing. In September, the unadjusted benchmark price was $774,000, slightly lower than last month and over 2% lower than 2023 levels."

These figures offer valuable insights into the market, helping both buyers and sellers make more informed decisions as they navigate the evolving Hamilton real estate market. With a thorough understanding of Hamilton's residential activity and pricing, the next section of this report will delve into a comparison of property types, analyzing their performance during September 2024. 

Property Type Comparison for September 2024

This section of the report provides a detailed comparison of different property types in the Hamilton real estate market, focusing on sales trends, new listings, average prices, and inventory levels. The Property Type Comparison chart above visually breaks down how each property type performed in September 2024, giving you a clear snapshot of market dynamics.

Sales Growth Driven by Detached and Row Homes

According to the Cornerstone Association of REALTORS® (Cornerstone), sales growth in September was primarily fueled by improvements in the detached and row home sectors. Additionally, there was an increase in new listings for detached homes, row houses, and apartment-style properties. However, the most significant gains in new listings were seen in the apartment-style property category.

Benchmark Prices and Sales by Property Type

Below is a summary list that outlines key statistics for each property type in September 2024:

Detached 

• Benchmark Price → $838,300 (-1%)
• Average Price → $911,410 (+5.8%) 
• New Listings → 990 (+12.9%)
• Sales → 307 (+18.5%) 

Semi-Detached 

• Benchmark Price → $741,300 (-2%) 
• Average Price → $678,917 (+10.8%) 
• New Listings → 62 (-3.1%)
• Sales → 18 (-28.0%) 

Row 

• Benchmark Price → $658,900 (-2%) 
• Average Price → $666,675 (-6.7%)
• New Listings → 251 (+13.1%)
• Sales → 97 (+56.5%) 

Apartment 

• Benchmark Price → $462,800 (-6%)
• Average Price → $489,711 (-2.8%) 
• New Listings → 178 (+29.9%) 
• Sales → 37 (-11.9%) 

Take note of the percentages provided alongside each statistic, which indicate whether there was an increase or decrease compared to the same period in 2023. As Cornerstone pointed out, "Overall, higher supply levels compared to sales continue to put downward pressure on home prices across all property types. Year-over-year price declines ranged from just over 1 percent in the detached home sector to over 6 percent in the apartment condominium sector, with apartment-style homes facing the most significant levels of over-supply." 

This concludes the Property Type Comparison section of the report. In the next section, we’ll dive into the Regional Summary for the Hamilton real estate market, offering insights into average prices, number of sales, and more. We’ll also focus on the regions that had the greatest impact on the market in September 2024.

Regional Summary for the Hamilton Real Estate Market Area

The Regional Summary chart provides a thorough analysis of various areas within the Hamilton real estate market. This in-depth breakdown, compiled by the Cornerstone Association of REALTORS® (Cornerstone), reveals important trends across different neighbourhoods. Let’s dive into the key findings for September 2024.

Sales Growth Across Multiple Regions

Cornerstone reported improvements in the number of sales across most regions within Hamilton. Notably, Hamilton East, Flamborough, Dundas, and Ancaster were the only areas that experienced year-to-date sales growth. The following sections provide a detailed breakdown of these areas, highlighting the significant trends that shaped their market performance. Additionally, new listings saw improvements across nearly all areas, which contributed to a lower sales-to-new-listings ratio and increased inventory levels throughout the market.

Hamilton East

In Hamilton East, there were 60 sales in September 2024, a 25 percent increase from the previous year. This region also saw 160 new listings, reflecting a 24 percent increase year-over-year. Hamilton East was one of the few areas to report growth in year-to-date sales. The average price of a residential property in this region was $606,358, a modest 1.2 percent increase year-over-year. Inventory levels surged by 64.5 percent compared to the previous year, further balancing the market for buyers.

Flamborough

Flamborough reported the highest average residential property price at $1,343,778, reflecting a significant 50 percent increase from the same period last year. This sharp rise in the average price highlights Flamborough's standout performance within the region. The area saw 18 sales, an 28.6 percent increase year-over-year. The number of new listings also rose, with 70 listings, representing a 34.6 percent increase. Inventory experienced substantial growth as well, up 41.1 percent to 158 units, reflecting the broader trend of increasing supply across the market.

Dundas

In Dundas, there were 18 sales, a 5.9 percent increase from the previous year. Dundas was one of the few areas to report year-to-date sales growth, making it a standout in the report. The average price of a residential property in Dundas saw a slight decline of 7.9 percent, bringing the average to $1,001,822. The number of new listings increased by 26.8 percent with a total of 52 listings, and inventory also grew significantly, up 70.2 percent to 80 units in September 2024.

Ancaster

The real estate market in Ancaster reported 41 sales in September, a substantial 57.7 percent increase compared to the same period last year. Ancaster's strong performance contributed notably to the overall year-to-date growth in sales. The number of new listings was 133, marking a 7.3 percent increase year-over-year. Inventory rose as well, with 228 units, reflecting a 16.3 percent increase from the previous year. The average price of a residential property in Ancaster decreased slightly by 7.5 percent, making the average home price $999,168.

Summary of Regional Trends

"Sales activity improved across most locations within the Hamilton region, but the only areas to report year-to-date sales growth were Hamilton East, Flamborough, Dundas, and Ancaster. Meanwhile, new listings improved across nearly every district compared to last year, keeping sales-to-new listings ratios low in every area and driving year-over-year inventory gains." – Cornerstone

This section of the report highlights the regions that saw the most significant year-to-date sales growth in September 2024. Each area provided unique insights into the local real estate market, reflecting both opportunities and challenges for buyers and sellers.

In the next section, we will explore the Average Residential Price by District using the map below, offering an even closer look at how different areas of the Hamilton real estate market performed.

Average Residential Price by District

The Average Residential Price by District map offers a deeper dive into the Hamilton real estate market, allowing for a closer look at property prices across various sub-areas. Building on our earlier analysis of Hamilton East, Flamborough, Dundas, and Ancaster, this section continues to explore these regions in greater depth, providing a clear snapshot of property values and year-over-year price changes.

The map is divided into sub-areas, each representing different sections of the Hamilton real estate market. Below, we’ve broken down the average residential prices for the areas discussed in the previous sections. Pay close attention to the percentage changes next to each price, which indicate the year-over-year increase or decrease.

Hamilton East

In Hamilton East, the average residential property price in September 2024 was $606,358, marking a 1.2 percent increase compared to the previous year. The area saw a total of 160 new listings and 60 sales. Hamilton East is further divided into sub-areas, and their average prices are listed below, along with their respective year-over-year percentage changes.

• Area 23 → $517,104 (-7%)
• Area 24 → $592,167 (-13%)
• Area 27 → $619,769 (-10%)
• Area 28 → $717,828 (+27%)

Flamborough, Dundas, and Ancaster

The regions of Flamborough, Dundas, and Ancaster each have a single average price, despite being divided into sub-areas. Dundas and Ancaster consist of one sub-area each (areas 41 and 42, respectively), while Flamborough includes multiple sub-areas (areas 40, 43, 44, and 45). However, the map shows a single average price for each of these regions. Below are the average residential prices for these areas, along with the corresponding year-over-year percentage changes.

• Flamborough → $1,343,778 (+50%)
• Dundas → $1,001,822 (-7.9%)
• Ancaster → $999,168 (-7.5%)

This concludes our analysis of the Average Residential Price by District. You can refer to the map for a closer look at specific areas you’re interested in. If you find the information overwhelming or need personalized guidance, we encourage you to reach out to a sales representative at Judy Marsales Real Estate Brokerage for expert advice and assistance.

Next, we’ll move on to the Summary of Statistics for the Hamilton Real Estate Market, where we’ll provide a comprehensive overview of key market metrics, including sales, listings, and pricing trends for September 2024.

Summary of Statistics For the Hamilton Real Estate Market

The Hamilton-Burlington real estate market saw a notable increase in sales compared to the previous year. However, long-term trends for September 2024 still reflected lower-than-average performance, unable to fully offset the earlier slowdown seen throughout the year. According to the Cornerstone Association of REALTORS® (Cornerstone), year-to-date sales have decreased by four percent, while sales remained 28 percent below long-term trends.

Market Trends and Buyer Optimism

As reported by Cornerstone, "Further rate cuts, recent price declines, and improving supply choices helped bring more buyers back to the market this month." While these changes have not yet caused a drastic market shift, there are signs of a potential trend reversal. Buyer optimism is on the rise, and as interest rates continue to drop, this momentum is expected to build.

"Buyer optimism is returning and will likely increase as interest rates continue to decrease,” said Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area.

Ready to Take the Next Step?

If you’d like to learn more about these market trends or are considering taking the next step toward homeownership, we encourage you to reach out to a sales representative at Judy Marsales Real Estate Brokerage. Whether you're buying your first home or searching for your next property, our sales representatives are here to guide you every step of the way.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage

This comprehensive real estate report provided valuable insights into the September 2024 market trends for the Hamilton and the entire Cornerstone real estate market areas. Whether you're looking to understand local property values, buy your first home, or find your next home, we hope this report serves as an essential resource for navigating the current real estate landscape with confidence.

Have Questions or Need More Information?

If you have any questions about these real estate statistics or want to learn more about our real estate brokerage services, don't hesitate to reach out. Our expert sales representatives are here to guide you through the Cornerstone real estate market, ensuring you make informed decisions every step of the way.

Connect with Us on Social Media

Stay informed about the latest market trends by following us on Facebook and Instagram. Join our community for expert advice, market updates, new listings, and more.

Contact Us Today

For personalized assistance, contact us at one of our three office locations:

• Westdale: Email us at westdale@judymarsales.com or call 905-522-3300
• Locke Street: Email us at locke@judymarsales.com or call 905-529-3300
• Ancaster: Email us at ancaster@judymarsales.com or call 905-648-8800

Curious About Your Home’s Value?

Find out what your home is worth today with our free "What’s My Home Worth" calculator. This quick tool provides an accurate estimate of your property's value based on the current market.

Want More Information About These Statistics?

For a deeper dive into the data, refer to the Hamilton Real Estate Statistics for September 2024. We’re here to ensure you have the information you need to make the best real estate decisions.

Hamilton – Burlington Real Estate Market Statistics for August 2024 

The Cornerstone Association of REALTORS® (Cornerstone), recently published their August 2024 real estate market statistics for the entire Cornerstone area. This detailed report offers a thorough overview of the market, shedding light on the latest trends and developments. It provides valuable insights into various aspects of the real estate market, with a particular focus on the Hamilton real estate market. 

In August 2024, the residential real estate market saw a total of 690 property sales, reflecting a seven percent decrease compared to the same period last year. This decline was observed across all property types, indicating a broader market trend. Long-term trends also show this decline, indicating that the real estate market is slowing down. Notably, Burlington continues to experience the tightest market conditions, with high demand and limited inventory contributing to the ongoing competitive environment in this region.

“New listings have remained relatively consistent with long-term trends. However, listings are being met with slower sales, resulting in inventory levels above both last year’s and long-term trends. A surge in inventory relative to sales has caused the months of supply to rise to four and a half months, reflecting the highest level seen for August since 2010. Higher inventory levels compared to sales have placed downward pressure on home prices. In August, the unadjusted benchmark price stood at $840,300, down over last month and over two per cent below last year’s levels. The steepest price decline is occurring in the oversupplied apartment condominium sector.” – Cornerstone 

In the next section of our report we’ll focus on the Hamilton Real Estate Market, taking a closer look at the residential activity and pricing for August 2024. This section will allow you to view the below chart, Hamilton Residential Activity and Prices for August 2024.

Hamilton Residential Activity and Prices 

The Residential Activity and Prices for August 2024 chart highlights key trends in the Hamilton real estate market. In August 2024, a total of 424 residential property sales were recorded, reflecting a 15 percent decrease compared to the same period last year. This decline underscores the shifting dynamics within the market.

Additionally, Cornerstone reported 955 new listings in the Hamilton area, marking a slight 1.1 percent year-over-year decrease. Despite the drop in sales, the increase in new listings pushed inventory levels higher, raising the months of supply to 4.5 months. The sales-to-new-listings ratio remained at its lowest level for August. The average price of a residential property in Hamilton was $794,404, representing a modest 0.3 percent decline year-over-year. These figures provide a clear snapshot of the current state of the Hamilton real estate market, helping buyers and sellers make informed decisions. 

“The pullback in sales relative to new listings contributed to further inventory gains, driving the months of supply up to 4.5 months. The relatively high months of supply over the past three months have weighed on home prices. Recent declines offset gains reported earlier in the year as the year-to-date average benchmark price eased by one per cent.” – Cornerstone

This wraps up our review of the Residential Activity and Prices for August 2024. In summary, the Hamilton real estate market saw a 15 percent drop in residential sales and a slight 0.3 percent dip in average prices, despite a rise in inventory. In the next section of our report we'll explore how different property types performed during this period.

Property Type Comparison for August 2024

This section of the report provides a detailed comparison of different property types in the Hamilton real estate market, focusing on sales trends, new listings, average prices, and inventory. The above chart offers a clear visual breakdown, helping you see how each property type is performed in August 2024.

According to the Cornerstone Association of REALTORS®, year-to-date sales have slowed across all property types. Detached properties, however, experienced the slowest decline in sales this year. This resilience was largely due to gains in the lower-priced properties, which helped to counterbalance the pullback seen in higher-priced homes.

The table below lists the different property types along with their average prices, number of new listings, and total sales for August 2024. Each statistic is accompanied by a percentage that shows whether there was an increase or decrease compared to the same period last year. These comparisons offer valuable insights into the shifting dynamics within the Hamilton real estate market, providing a clear picture of how each property type is being affected by current market conditions.

For those closely following the Hamilton real estate market, understanding these trends across different property types is crucial. Whether you’re a buyer, seller, or investor, this detailed comparison will help you navigate the market more effectively and make informed decisions based on the latest data. 

Detached 

• Average Price → $877,161 -0.9% 
• New Listings → 589 -10.1% 
• Sales → 284 -12.1% 

Semi – Detached

• Average Price → $637,657 -0.1% 
• New Listings → 35 0.0% 
• Sales → 21 -8.7% 

Row 

• Average Price → $683,011 -4.5% 
• New Listings → 202 +22.4% 
• Sales → 82 -15.5% 

Apartment

• Average Price → $481,244 +0.1% 
• New Listings → 126 +14.5% 
• Sales → 36 -34.5% 

“Rising supply has weighed on home prices, which eased across all property types. However, the most significant price adjustment has occurred in the apartment condominium sector, which reported the highest months of supply out of all the property types.” – Cornerstone 

In the next section of our report, we’ll dive into the Regional Summary for the Hamilton Real Estate Market for August 2024. This detailed chart offers a comprehensive view of the entire region's market, allowing us to thoroughly analyze and compare each area's individual sales, average prices, inventory levels, and new listings with data from the previous year. By exploring these insights, we can gain a clearer understanding of the overall market dynamics across different neighbourhoods within the Hamilton real estate market.

Regional Summary for the Hamilton Real Estate Market Area 

The Regional Summary chart offers a thorough look at the various areas within the Hamilton real estate market. This detailed analysis by the Cornerstone Association of REALTORS® (Cornerstone) reveals key trends across different neighbourhoods. In August 2024, year-to-date sales saw notable improvements in Flamborough and Dundas, where market activity picked up compared to earlier in the year. While most other regions within the Hamilton market reported sales that fell below long-term averages, indicating a general cooling of the market.

To provide a clearer understanding of the current market dynamics, we have reviewed the areas with the highest number of sales in August 2024. For each area, the average price of properties and the number of new listings are also included. These statistics are presented alongside year-over-year comparisons, allowing you to see how market conditions have shifted over the past year. Whether you're tracking market performance for investment opportunities or planning to buy or sell, this data offers valuable insights into the state of the Hamilton real estate market. 

Hamilton Mountain 

The Hamilton Mountain area recorded 127 sales in August 2024, a 7.6 percent increase year-over-year, showcasing strong demand. However, the average price of residential properties in this area decreased by nine percent to $701,213 compared to the same period last year. The market also saw a 13.9 percent rise in new listings, totaling 238, making Hamilton Mountain the leader in both sales and new listings for the month. Additionally, inventory grew significantly by 50.8 percent, with 365 units available, providing buyers with more choices and influencing the area's market dynamics.

Stoney Creek

Stoney Creek faced challenges in August 2024, with 62 sales reflecting a steep 26.2 percent decrease compared to the same period last year. However, the average price of residential properties rose by 9.9 percent, reaching $902,488. Despite fewer sales, there were 152 new listings, a 24 percent year-over-year decline. On a positive note, inventory saw a modest increase of 8.6 percent, with 329 units available, offering more options to potential buyers. 

Hamilton East

Wrapping up our analysis, the Hamilton East area recorded 47 sales in August 2024, reflecting a modest 2.1 percent decrease from the previous year. The market saw a significant 31.9 percent increase in new listings, bringing the total to 120. The average property price in this area was $616,900, which marked a 9.8 percent decline year-over-year. Additionally, inventory levels rose by 5.5 percent, with 186 units available, slightly expanding the options for buyers.

“While year-to-date sales have improved in Flamborough and Dundas, all areas within the Hamilton region have reported sales that are below long-term trends. Meanwhile, new listings increased across all areas, driving inventory gains. The supply growth compared to sales drove up the months of supply across most areas. As of August, the months of supply ranged from a high of six months in Hamilton Centre to under three months in Hamilton Mountain.” – Cornerstone

This completes our review of the above chart, Regional Summary, we can now move on to the next section of this report. We'll take a close look at the Average Residential Price by District map, where we’ll be able to see the entire Hamilton real estate market area. 

Average Residential Price by District 

The Average Residential Price by District map offers a detailed view of various sub-areas within the Hamilton real estate market. Following our earlier analysis of Hamilton Mountain, Stoney Creek, and Hamilton East, this section continues to explore these regions in depth.

By examining the map closely, you’ll notice that each sub-area displays the average residential property price for August 2024, along with a percentage indicating whether that price has increased or decreased compared to the same period last year. This breakdown provides a clear snapshot of how each sub-area is performing within the broader market. Below, we've provided a detailed breakdown of the sub-areas within the mentioned market regions to offer further insights into their real estate trends. 

Hamilton Mountain 

Having reported a total of 127 sales, a 7.6 percent increase year-over-year, this area is the leader for August 2024 sales. The average price of a residential property in this area was $706,213, a nine percent decrease compared to the previous year. The Hamilton Mountain comprises the sub areas of 15, 16, 17, 18, 25 and 26. 

• 15 → $765,105 -13% 
• 16 → $724,978 -9% 
• 17 → $635,978 -7% 
• 18 → $778,861 -4% 
• 25 → $706,409 -9% 
• 26 → $627,450 -12% 

Stoney Creek

The area of Stoney Creek reported a total of 62 sales, there was a slight decrease of 26.2 percent year-over-year. The average price of a property was $902,488, this was an increase of 9.9 percent compared to the previous year. Stoney Creek comprises the sub areas of 50, 51 and 52. 

• 50 → $861,993 +4% 
• 51 → $932,703 +15% 
• 52 → $1,110,000 -12% 

Hamilton East

The final area that we’ll review on the above map is Hamilton East, the average price of a home in this area was $616,909 – a decrease of 9.8 percent year-over-year. The total number of sales in August were reported to have been 47, which was a small decrease of 2.1 percent compared to the previous year. Hamilton East comprises the sub areas of 23, 24, 27 and 28. 

• 23 → $516,765 -9% 
• 24 → $663,800 -2% 
• 27 → $706,800 -4% 
• 28 → $675,592 -9% 

This concludes our section on the Average Residential Price by District, you can take a closer look at the map and find your area or an area that you might be interested in. We know that this might be a lot of information to digest, that’s why at the end of this report we’ll provide information for you to contact a sales representative at Judy Marsales Real Estate Brokerage. 

Summary of Statistics for The Hamilton Real Estate Market

The Hamilton-Burlington real estate market recorded 690 residential property sales in August 2024, reflecting a slight 7 percent decrease compared to the previous year. According to the Cornerstone Association of REALTORS® (Cornerstone), this decline was evident across all property types, signaling a broader trend of a slowing real estate market. Despite this overall slowdown, Burlington continues to face the tightest market conditions, with high demand and limited inventory fueling a competitive environment.

 “There is more inventory than we have seen in recent years, which provides prospective buyers with flexibility and choice. We are seeing many hopeful buyers continue to wait for interest rates to come down as they are predicted to do. Now is a good time for buyers to take advantage of the increased opportunities. When interest rates come down, there could once again be a strain on inventory,” – Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area. 

If you’re interested in learning more about these market trends or starting your journey to home ownership, we encourage you to reach out to a sales representative at Judy Marsales Real Estate Brokerage. Whether you're looking to buy your first home or find your next one, our team is here to assist you every step of the way.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage 

This comprehensive real estate statistics report offers in-depth insights into the August 2024 market trends in Hamilton and the broader Cornerstone area. Whether you're interested in understanding local property values or are in the market to find your first home or next home, this report serves as your essential resource for navigating the current real estate landscape.

Have Questions or Need More Information?

If you have any questions about these real estate statistics or want to learn more about our real estate brokerage services, please don't hesitate to contact us. We’re here to assist you in navigating the Hamilton and Cornerstone real estate markets with confidence, ensuring you make informed decisions every step of the way. 

Connect with us on Social Media

Stay updated on the latest market trends by following us on Facebook and Instagram. Join our community for expert advice, market updates, new listings, and more.

Contact us Today

For personalized assistance, you can reach us directly at one of our three office locations. 

• Westdale: Email us at westdale@judymarsales.com or call us at 905-522-3300
• Locke Street: Email us at locke@judymarsales.com or call us at 905-529-3300
• Ancaster: Email us at ancaster@judymarsales.com or call us at 905-648-8800

Curious About Your Home's Value?

Find out what your home is worth today with our easy-to-use “What’s My Home Worth” calculator. It’s a quick and free tool designed to give you an accurate estimate of your property’s value in the current market.

For More Information About These Statistics 

Looking for a more in-depth review of these statistics? Please refer to the Hamilton Real Estate Statistics for August 2024.

Hamilton – Burlington Real Estate Market Statistics for July 2024 

Cornerstone Association of REALTORS® (Cornerstone), released the July 2024 real estate statistics for the entire Cornerstone real estate market area. This report will review some of the statistics, with a strong focus on the Hamilton real estate market.

The July 2024 real estate market statistics stated that there were a total of 804 residential properties sold. This was a six percent decrease compared to the previous year and was reported for the entire Hamilton-Burlington real estate market area. This statistic was generated from the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS®. It was also reported that while the year-to-date sales in the Hamilton-Burlington area saw a decrease, Niagara-North reported comparable levels seen the same time last year. 

New listings saw an increase in July 2024, while the sales-to-new-listings ratio eased to 42 percent. Inventory levels were similar to June’s and also higher than last year. The months of supply “pushed above four months,” this hasn’t been seen since July 2010. 

“More supply choice has continued to place downward pressure on home prices this month. The unadjusted benchmark price was $843,500, nearly one per cent lower than in June and three per cent lower than last July. While prices are below the 2022 peak, they are still higher than levels reported prior to the pandemic, and year-to-date average benchmark prices are only slightly lower than last year.” – Cornerstone Association of REALTORS® 

Hamilton Residential Activity and Prices

The above chart, Residential Activity and Prices for July 2024, illustrates the number of sales of residential properties within the Hamilton real estate market. This chart also helps us to compare these numbers to the previous year. It was reported that in July 2024 sales eased two percent with a total of 491 sales. 

This sharp decline in sales was mainly seen in home prices between $800,000 and $1,500,000, this was able to offset the gains happening in other price points. Cornerstone reported that there were a total of 1,223 new listings which was an increase of 8.6 percent compared to the same time last year. Causing the sales-to-new-listings ratio to decrease by 40 percent. The average price of a residential property in the Hamilton market was $789,971 – this was a six percent decrease when compared to the same period last year. 

“Higher inventory levels compared to sales caused the months-of-supply to rise to nearly four months in July. The months-of-supply has not been this high in July since 2010, and is contributing to the downward pressure on home prices. In July, the unadjusted benchmark price was $780,700. This reflects a second consecutive monthly decline and is nearly four per cent below last year's levels.” – Cornerstone Association of REALTORS® 

Property Type Comparison for July 2024

This section of the report is where we’ll compare the differences between each property type. The above chart illustrates each property type when it comes to the number of sales, new listings, average prices, inventory and more. Cornerstone Association of REALTORS®, reported that year-to-date sales slowed across all the different property types. 

It was also reported that detached homes were 6.6 percent of the total sales in July 2024. While row homes made up six percent of the total number of sales. Row and detached homes reportedly had less listings in July than they did in June. The lower number of listings contributed to the prevention of any inventory gains over last month's levels. 

Listed below are the different property types, average prices, number of new listings and total sales for July 2024. With each statistic you’ll be able to see a percentage representing either an increase or decrease. This percentage represents the comparison to the same period last year. 

Detached: 

• Average Price → $873,327 -6.6% 
• New Listings → 805 +8.2%
• Sales → 329 -0.9% 

Semi-Detached: 

• Average Price → $687,784 -6.2%
• New Listings → 50 +2.0% 
• Sales → 19 -29.6%

Row: 

• Average Price → $677,191 -4.0%
• New Listings → 219 +11.7% 
• Sales → 97 +5.4% 

Apartment-Style: 

• Average Price → $431,128 -10.2%
• New Listings → 148 +11.3%
• Sales → 46 -4.2% 

“The months-of-supply rose across all property types compared to last July, with detached pushing near four months. The apartment condominium sector reported the highest month-of-supply at over six months. Overall, supply growth compared to sales has weighed on prices across all property types in July. However, on a year-to-date basis, average benchmark prices have remained relatively stable compared to last year's prices for detached, semi-detached, and row-style homes. Apartment condominiums reported a year-to-date average benchmark price decline of nearly three percent.” – Cornerstone Association of REALTORS®

Moving on to the next section of our report, we’ll review the chart, Regional Summary for the Hamilton Real Estate Market for July 2024. This chart will help us to better understand the entire region’s market. We’ll have the opportunity to compare each area's individual sales, average prices, inventory, new listings and more to the previous year. 

Regional Summary for the Hamilton Real Estate Market for July 2024

The above chart, Regional Summary, allows us to see each area within the Hamilton real estate market area. Cornerstone reported that in July 2024, the areas of Flamborough and Dundas were the only areas to report a gain in sales. There was also a gain in new listings, which then offset the higher sales, therefore causing year-over-year inventory gains. 

Hamilton Mountain 

It was reported that there were a total of 111 sales of residential real estate properties in July 2024. The Hamilton Mountain had the greatest number of sales reported across the entire Hamilton real estate market area. However, this was a decrease of 10.5 percent when compared to the same time period last year. The average price of a residential property in this area was reported to have been $726,014, this was a decline of 4.4 percent year-over-year. Cornerstone also reported that there were 262 new listings in this area and that it was an increase of 13.9 percent compared to the previous year. Finally, the Hamilton Mountain reported that there were a total of 353 units of inventory, which was a significant increase of 52.2 percent compared to the previous year. 

Dundas 

The area of Dundas reported that there were a total of 24 sales in July 2024, this was a significant increase of 50 percent compared to the previous year. Dundas also reported that there were a total of 31 new listings, which was a small increase of only 3.3 percent year-over-year. However, the inventory levels saw an increase of 54.4 percent with a total of 51 units reported in July. The average price of a residential property in Dundas had a small decrease of 7.4 percent, with the average price being $904,648. 

Flamborough

The final area that we’ll review will be Flamborough, which reported the highest average sale price of a residential property. This area was also mentioned in the report by Cornerstone as having one of the only areas with gains in sales (along with Dundas). Flamborough had a reported 23 sales in July 2024, this was an increase of 4.5 percent. The number of new listings in this area were reported to be 51, which was a small decrease of 7.3 percent compared to the previous year. Inventory levels in Flamborough were reported to have had an increase of 42.3 percent, with a total of 148 units. Cornerstone reported that the average price of a residential property in this area was $1,221,522 – this was a small decrease of only 5.4 percent when compared to the same period last year. 

“So far this year, Flamborough and Dundas are the only areas to see a gain in sales. However, the gain in new listings offset higher sales, causing year-over-year inventory gains. Inventory gains across the entire Hamilton region caused an increase in the months-of-supply, which means market conditions are not as tight as they were last year.” – Cornerstone Association of REALTORS®

This concludes our review of the above chart, Regional Summary, where we were able to get a closer look at the different areas within the Hamilton real estate market. In the next section of this report we’ll take a close look at the Average Residential Price by District map. 

Average Residential Price by District

The above map, Average Residential Price by District, helps to illustrate the different areas within the Hamilton real estate market by sub areas. In the previous section we focused on the areas of Dundas, Flamborough and the Hamilton Mountain, we’ll continue that focus in this section as well. 

When you take a look at the above map, you can see that there are different areas and then sub areas. Each sub area shows the average price of a residential property in July 2024 and a percentage representing whether that price saw an increase or decrease. That percentage is in comparison to the same time period last year. Let’s now take a look at the areas we mentioned above and see how they compared to the previous year. 

The Hamilton Mountain reported an average price of $726,014, this was a decrease of 4.4 percent year-over-year. This area also had a total of 111 sales, the greatest number of sales within the entire Hamilton real estate market. The sub areas that comprise the Hamilton Mountain are; 15, 16, 17, 18, 25 and 26. 

• 15  → $807,056 +5.5%
• 16 → $711,208 -15%
• 17 → $630,173 -5%
• 18 → $793,328 -8%
• 25 → $755,233 +14% 
• 26 → $728,583 +1% 

Moving on to the next area, we’ll take a look at Dundas, which comprises the sub area 41. The average residential property price in this area was $904,648, a decrease of 7.4 percent when compared to the previous year. There were a total of 24 sales, this was an increase of 50 percent year-over-year. Flamborough also only comprises a few sub areas but with only one statistic for all of them. The sub areas are 40, 43, 44 and 45. The average price of a residential property was $1,221,522, a decrease of five percent when compared to the previous year. 

This concludes our section on the Average Residential Price by District, you can take a closer look at the map and find your area or an area that you might be interested in. We know that this might be a lot of information to digest, that’s why at the end of this report we’ll provide information for you to contact a sales representative at Judy Marsales Real Estate Brokerage. 

Summary of Statistics for The Hamilton Real Estate Market 

The Hamilton-Burlington real estate market reported a total of 804 residential properties sold in July 2024, a small decrease of only six percent when compared to the previous year. The Cornerstone Association of REALTORS® reported that while the year-to-date sales in the Hamilton-Burlington area saw a decrease, Niagara-North reported comparable levels seen the same time last year. It was also reported that new listings saw an increase and the sales-to-new-listings ratio eased to 42 percent. 

“This marks the third consecutive year that sales have remained below long-term trends. At the same time, we are experiencing a gain in new listings. While rates are slowly coming down, for some existing owners the prospect of higher renewal rates is enough to cause them to list their properties, driving up supply levels,” – Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area.

You can learn more about these statistics by contacting a sales representative at Judy Marsales Real Estate Brokerage. We encourage you to reach out to not only learn more but also to start your journey to home ownership or to find your next home. 

Contact a Sales Representative at Judy Marsales Real Estate Brokerage

This comprehensive real estate statistics report provided detailed insights into the July 2024 real estate market trends in Hamilton and the broader Cornerstone area. Whether you're a homeowner, investor, or simply curious about local property values, this report is your go-to resource.

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For More Information About These Statistics 

Looking for a more in-depth review of these statistics? Please refer to the Hamilton Real Estate Statistics for July 2024.

Hamilton – Burlington Real Estate Market Statistics for June 2024 

Cornerstone Association of REALTORS® (Cornerstone), released their June 2024 real estate statistics for the entire Cornerstone real estate market area. This report will review some of the statistics, with a strong focus on the Hamilton real estate market.

It was reported that in June there was a slowing down in sales for the entire Cornerstone real estate market area, when compared to the previous year. There were a reported total of 835 sales of residential real estate properties, which was lower than the long-term averages usually seen at this time. These figures have been observed by Cornerstone over the past few years and according to them, “this slowdown in sales is evident across all property types and in every area within the region.”

When it came to the new listings recorded in June, there were a reported 2,048 in total. This was an increase when compared to the same period last year. It was also reported that the inventory in June was trending up, with a 54 percent increase compared to the same period last year. That percentage is well above the long-term trends for the month and inventory levels had an increase across all property types. 

“Gains in inventory relative to sales caused the months of supply to rise to nearly four months.Higher supply levels relative to sales took some pressure off home prices. In June, the unadjusted benchmark price was $849,900, a year-over-year decline of over two per cent.Despite the decline, year-to-date the average benchmark price has remained relatively flat compared to last year.” – Cornerstone Association of REALTORS® 

In the next section of this blog we’ll focus on the Hamilton Real Estate Market, taking a closer look at the residential activity and pricing for June 2024. This section will allow you to view the below chart, Hamilton Residential Activity and Prices for June 2024. 

Hamilton Residential Activity and Prices 

The above chart, Residential Activity and Prices for June 2024, illustrates the number of sales of residential properties within the Hamilton real estate market. This chart also allows us to compare those numbers to the previous year. There were a reported 495 sales of residential properties within the Hamilton real estate market in June 2024. The number of sales reported in June was a 25.3 percent decrease compared to the same period last year. 

Let’s now take a look at the number of new listings – there were a total of 1,264, this was an increase of only 7.1 percent year-over-year. The average price of a residential property was reported to be $831,190 – this was 0.4 percent higher than the previous year. Cornerstone also reported on the inventory levels in the Hamilton real estate market, there were a total of 1,952 units, which was an increase of 54.9 percent compared to the previous year. 

Sales saw an increase with properties that were priced below $500,000, but that was still not enough to prevent a seven percent decrease year-to-date. Cornerstone reported that new listings were higher in June than the levels reported last year, but also eased when compared to last year. It’s also important to note that the sales-to-new-listings ratio saw a decrease to 40 percent as inventory levels saw an increase. 

“Higher inventory levels compared to sales pushed the months of supply up to nearly four months. Additional supply choice weighed on home prices. In June, the unadjusted benchmark price was $786,800, down from last month and nearly three per cent below last June.” – Cornerstone Association of REALTORS® 

Next we’ll take a look at the Property Type Comparison for June 2024 chart. This chart will help us to better understand the average price, number of new listings, sales and more for each individual property type. 

Property Type Comparison for June 2024

In this section of the report we’ll be comparing the differences between each property type. The above chart allows us to compare each property type when it comes to the number of sales, new listings, average prices, inventory and more. Cornerstone Association of REALTORS®, reported that sales saw a decrease across all property types in June 2024. This decrease contributed to the year-to-date declines ranging from six percent for detached homes to 13 percent for semi-detached homes. 

It was stated in their statistics that the steeper declines seen in the semi-detached homes sector was most likely due to limited growth in new listings. Listed below are the different property types, their average prices, number of new listings and total sales for June 2024. With each statistic you’ll be able to see a percentage representing either an increase or decrease. 

Detached: 

• Average Price → $922,685 +0.6%
• New Listings → 820 +5.1% 
• Sales → 336 -20.2% 

Semi-Detached: 

• Average Price → $738,257 +1.2% 
• New Listings → 44 -10.2% 
• Sales → 14 -60%

Row: 

• Average Price → $703,911 -5.4% 
• New Listings → 252 +22.0% 
• Sales → 99 -27.2% 

Apartment Style: 

• Average Price → $465,093 -7.8% 
• New Listings → 144 +5.1% 
• Sales → 46 -31.3% 

“Supply levels have been on the rise across all property types, but the apartment condominiums had the highest months of supply at nearly seven months. While prices did ease across all property types compared to last year, the largest year-over-year decline occurred in the apartment condominiums at over three per cent.” – Cornerstone Association of REALTORS® 

The next section of this report will focus in particular on each area within the Hamilton real estate market. Therefore allowing us to get a close look at each one and compare their individual sales, average prices, inventory, new listings and more to the previous year. 

Regional Summary for the Hamilton Real Estate Market

The above chart, Regional Summary, allows us to see each area within the Hamilton real estate market area. Cornerstone reported that in June 2024, the year-to-date sales saw an improvement in Flamborough and Dundas. However, this improvement in sales wasn’t enough to correct the decreases seen across all the other areas. In this section of the report we’ll focus on Hamilton West, Hamilton Centre, Dundas and Flamborough.

Summary for Hamilton West 

It was reported that in Hamilton West there was a total of 44 sales of residential properties, this was a decrease of 35.9 percent when compared to the previous year. Cornerstone reported that new listings in this area also had a decline when compared to the same period last year, with a total of 95 new listings – this was a decrease of 13.6 percent. When it came to inventory, this area had a total of 177 units, which was an increase of 26.4 percent compared to the previous year. In Hamilton West the average price of a residential property was $662,078, only a small decrease of 8.5 percent compared to previous year. 

Summary for Hamilton Centre

The next area we’ll take a look at is Hamilton Centret, which reported a total of 42 sales in June 2024. This was a 41.7 percent decrease year-over-year, however new listings saw an increase of 9.5 percent compared to the same period last year with a total of 184. Inventory in this area also saw improvements with a 42.4 percent increase compared to the previous year. The average price of a residential property in this area was reported to have been $536,566, a decrease of 11 percent year-over-year. The months of supply in Hamilton Centre were reported to have been 144.2 for June 2024. 

Summary for Flamborough 

Finally we’ll review Flamborough, this area had a total of 20 sales, which was a decrease of 42.9 percent compared to the previous year. Flamborough also reported a total of 66 sales of residential properties, an increase of 8.2 percent year-over-year. Inventory in this area saw an increase of 69.3 percent compared to the previous year. The average price of a residential property in this area was $1,366,097, an increase of 13.5 percent year-over-year. Months of supply were reportedly 7.45 or an increase of 196.3 percent compared to the same period last. 

“Year-to-date sales improved in Flamborough and Dundas, but this wasn’t enough to offset the declines reported in all other areas within the Hamilton Region. Hamilton West and Hamilton Centre reported the largest sales declines. While monthly changes in inventory ranged across all areas within the region, a gain in inventory and months of supply compared to last year was a common theme throughout.” – Cornerstone Association of REALTORS®

Join us now in the final section of this report where we’ll review the Average Residential Price by District. We’ll get to view an easy to read map that provides us with a visual of the entire Hamilton real estate market. 

Average Residential Price by District

The above map, Average Residential Price by District, helps to illustrate the different areas within the Hamilton real estate market by their sub areas. These sub areas show what the average cost of a residential property was in June 2024. The map allows us whether that price had an increase or decrease compared to the same time period last year. In the previous section we focused on Hamilton West and Hamilton Centre and Flamborough, we’ll continue that focus in this section. 

Hamilton West reported a total of 41 sales in June 2024, a decrease of 35.9 percent compared to the same period last year. This area had a total of 95 new listings, another decrease compared to the previous year, this decrease was 13.6 percent. The Hamilton West area comprises the sub areas of 10, 11 and 12 – please see the list below of a breakdown of each of these areas.

• 10 → $542,988 -11% 
• 11 → $713,778 -23% 
• 12 → $674,126 -6% 

The next area we’ll look at is Hamilton Centre, which reported a total of 42 sales in June 2024 – this was a 41.7 percent decrease compared to the previous year. This area had a total of 189 new listings, which was an increase of 9.5 percent year-over-year. It’s also important to note that the average price of a residential property was $536,866 – a decrease of 11 percent compared to the previous year. Hamilton Centre comprises the sub areas of 13, 14, 20, 21 and 22 – listed below are each of these areas along with their average prices and whether that price saw an increase or decrease compared to the same period last year. 

• 13 → $529,240 -8% 
• 14 → $440,116 -26% 
• 20 → $538,615 -5% 
• 21 → $492,667 -11% 
• 22 → $656,830 -13% 
  

Finally, in this section we’ll review our final real estate area, Flamborough.This area had a total of 20 sales, a decline of 42.9 percent year-over-year and a total of 66 new listings, an increase of 8.2 percent. Flamborough had an average residential property price of $1,366,097 – this was an increase of 13 percent compared to the previous year. This area comprises the sub areas of 40, 43, 44 and 45. Listed below are the areas and their average prices for June 2024, included is also the percentage of whether that price saw an increase or decrease. 

• 40, 43, 44, & 45 → $1,366,097 +14%

This concludes this portion of the report, reviewing the above map is a great way to visualize the area where you live, but also your desired areas as well. In the final section of this report we’ll summarize the statistics mentioned and explain how a sales representative at Judy Marsales can help you navigate the Hamilton real estate market. 

Summary of Statistics for the Hamilton Real Estate Market 

In summary, there were 835 sales of residential real estate properties in June 2024 in the entire Cornerstone Association of REALTORS® real estate market area, which was lower than the long-term averages usually seen. Cornerstone, reported there were a reported 2,048 new listings – an increase when compared to the same period last year. 

It was also reported that inventory levels in June trended up, with a 54 percent increase compared to the previous year. Which was  well above the long-term trends for the month – inventory levels saw an increase across all property types. 

“Higher interest rates and rising cost of living have impacted the housing market. Despite a recent rate reduction by the Bank of Canada, mortgage rates remain high, and potential buyers are likely waiting for further cuts or a shift in market conditions. Rising supply levels have reduced the sense of urgency experienced during the periods of low inventory, taking the pressure off home prices.” – Cornerstone Association of REALTORS® Spokesperson Nicolas von Bredow.

Learn more about our real estate brokerage in the conclusion of our real estate statistics report and review. Please also note that all real estate statistics have been provided by the Cornerstone Association of REALTORS®.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage

This report included a lot of information about the June 2024 real estate market in the Hamilton and entire Cornerstone real estate market area. If you have any questions about these statistics or would like to learn more about our brokerage, please reach out to our offices directly, or alternatively you can find us on Facebook and Instagram.

Please feel free to email us at one of our three office locations, westdale@judymarsales.com, ancaster@judymarsales.com, or locke@judymarsales.com. You can also reach us directly by phone at one of the following numbers, Westdale: 905-522-3300, Ancaster: 905-648-6800, and Locke Street South: 905-529-3300. Additionally, if you have been wondering what your home might be worth try using our “What’s My Home Worth” calculator. 

For More Information About These Statistics 

Looking for a more in-depth review of these statistics? Please refer to the Hamilton Real Estate Statistics for June 2024.

Hamilton – Burlington Real Estate Statistics for May 2024

The REALTORS® Association of Hamilton-Burlington (RAHB), just recently released their May 2024 real estate statistics for the entire RAHB real estate market area. In this report we plan to review some of these statistics, with a strong focus on the Hamilton real estate market.

RAHB reported that there were a total of 1,052 residential real estate sales in May 2024. This was a 20 percent decrease from the previous year. It was also 31 percent below the long-term trends average for May. This decline in sales was reported in all property types for May 2024. 

The real estate report by RAHB also stated that this decline seen across all property types assisted the gains seen earlier in the year – this was a three percent decrease year-over-year. There was a reported increase in the number of new listings, which therefore created a decrease in the sales-to-new-listings ratio. The sales-to-new-listings ratio was reported to have been at 46 percent. 

When it came to new listings, RAHB reported that there was an improvement in various price brackets, with the most significant improvements being with properties prices over $1,000,000. Since there was a combined decrease in sales and increase in new listings, inventory saw a gain of 56 percent compared to the previous year. Also important to note, that this reported gain in inventory was the most significant seen in May since 2018.

“The fluctuations in both sales and inventory levels have fostered the most balanced conditions in over a decade, effectively mitigating any notable shifts in home prices on a year-to-date basis. In May, the total unadjusted residential benchmark price stood at $868,300, reflecting a one per cent increase compared to the previous month, yet nearly one per cent lower than the levels recorded in May of the previous year.” – RAHB

Join us in the next section of this report as we take a look at the Hamilton real estate market and review the below chart, Residential Activity and Prices for May 2024. Our goal in this next section is to compare and contrast the statistics with the previous year. 

Hamilton Residential Activity and Prices for May 2024

The above chart, Residential Activity and Prices for May 2024, illustrates the number of sales of residential properties within the Hamilton real estate market. The chart is also able to compare those numbers to the same time last year. 

There were a reported 637 sales of residential properties within the Hamilton real estate market in May 2024. That was an 18.3 percent decrease from the same period last year, plus the slower sales in May were able to help counterbalance the gains seen earlier in 2024. 

In the report, RAHB indicated that the month of supply did see an increase across all property types in May 2024. However, the most affordable properties in each of these categories did face tight conditions.

There were a total of 1,425 new listings, this was a 14.5 percent increase compared to the same period last year. The Hamilton real estate market also reported inventory levels at a total of 1,830 units, which was a 57 percent increase year-over-year. Finally, the average price of a residential property in the Hamilton real estate market was $817,283, this was a very small increase of only 0.6 percent compared to the previous year. 

“Benchmark prices in May continued to rise compared to earlier in the year but remained just over one per cent lower than the levels recorded in May of the previous year. Despite some monthly fluctuations, year-to-date prices have shown relative stability in 2024 compared to the previous year.” – RAHB

In the next section of this report we want to take a look at the Property Type Comparison for April 2024 chart. Looking at this chart will help us to better understand the average price, number of new listings, sales and more for each individual property type. 

Property Type Comparison for May 2024

Let’s now turn our attention to the above chart, Property Type Comparison for May 2024. The chart allows us to compare the sales, new listings, inventory, average price and much more across all property types. We can better understand some of the statistics mentioned in the previous section. 

According to the report by RAHB, sales saw a decline across all property types in May 2024. With the most significant decreases reported in the “higher density homes.” New listings had an increase across all property types which helped contribute to the decrease in the sales-to-new-listings ratio and the rise in inventory. 

The sales-to-new-listings ratio varied from a height of 50 percent for semi-detached homes to a low of 36 percent for apartment-style units respectively. Listed below are each property type, breaking down new listings, sales and the average price for May 2024. You’ll also notice that there is a plus or minus, indicating if that statistic has had an increase or decrease compared to the previous year. 

Detached: 

• Average Price → $907,415 +2% 
• New Listings → 926 +8.9% 
• Sales → 433 -12.7% 

Semi – Detached: 

• Average Price → $661,633 -11.1% 
• New Listings → 64 +4.9% 
• Sales → 32 -22% 

Row: 

• Average Price → $708,547 -4.9% 
• New Listings → 268 +32% 
• Sales → 110 -29.9% 

Apartment Style: 

• Average Price → $464,098 -12.2% 
• New Listings → 268 +33.6% 
• Sales → 60 -29.4% 

“The increased supply relative to sales helped alleviate some pressure on home prices, particularly in the upper price ranges. So far this year, average benchmark prices have shown modest improvements for detached and semi-detached homes, while reporting a two per cent decline for apartment-style units.” – RAHB 

In the next section of this report we want to review the chart, Regional Summary for the Hamilton Real Estate Market. This will help to give us an overview of each area within the Hamilton real estate market, allowing us to see each area and compare the sales, new listings, average price and more. 

Regional Summary for the Hamilton Real Estate Market

In the above chart, Regional Summary, we can see each area within the Hamilton real estate market area. RAHB reported that in May 2024, the most notable decrease in sales was reported in Hamilton West. Only Flamborough and Dundas reported a significant increase in sales in May 2024. 

“Despite variations in sales activity, all locations within the region experienced an uptick in inventory levels and months of supply. Dundas, Hamilton Mountain, and Hamilton East reported the tightest market conditions with just over two months-of-supply; on the other hand, Flamborough reported a months-of-supply of over five months.” – RAHB 

Let’s now take a look at the above chart, Regional Summary, and get a closer look at each area within the Hamilton real estate market. Our focus going forward in this section of the report will be the areas of Dundas, Hamilton Mountain and Hamilton East

Summary for Dundas

It was reported that in Dundas there were a total of 31 sales in May 2024, this was a 14 percent increase when compared to the previous year. New listings also saw an increase with a total of 59, this was a whopping 96.7 percent increase year-over-year. Another significant increase was in inventory which had an incredible increase of 138.5 percent compared to the same period last year – there were 62 units recorded. 

The months of supply was reported by RAHB at 2.00 – which was another incredible increase of 107.7 percent. Finally, the average price of a residential property in May 2024 was reported to be $906,087, a small decrease of only 11 percent year-over-year. 

Summary for the Hamilton Mountain

The Hamilton Mountain continues to be the area with the greatest number of residential sales, with a total of 153, this was a 20.3 percent decrease compared to the same period last year. This area also had the greatest number of new listings with a total of 305, which was a 20.6 percent increase year-over-year. 

RAHB reported that inventory levels in the Hamilton Mountain were 333 units, another incredible increase of 104.3 percent year-over-year. With months of supply having been reported at 2.18, that’s an increase of 156.4 compared to the previous year. The cost of a residential property in this area was reported by RAHB to be $744,286, this was a small decrease of 7.3 percent when compared to the previous year. 

Summary for Hamilton East 

Hamilton East was another area that was mentioned in the report having had one of the “tightest market conditions with just over two months-of-supply.” This area reported a total of 68 sales of residential properties, which was a decline of 19 percent year-over-year. It was reported that Hamilton East had a total of 126 new listings of residential properties, this was a decrease of only 7.4 percent compared to the previous year. 

The inventory levels were reported at 142 units in May 2024, this was an increase of 21.4 percent year-over-year. The months of supply for Hamilton East were reported to have been 2.09, this was an increase of 49.9 percent when compared to the previous year. The average price of a residential property in this area was reported to have decreased by 7.3 percent and was $610,353 in May 2024. 

We can now move on to the next section of this report which will focus on the below map, Average Residential Price by District. This map helps to illustrate the different areas within the Hamilton real estate market by breaking them down into sub areas. Let’s now take a closer look at these areas and sub areas. 

Average Residential Price by District

Let’s now review the above map, Average Residential Price by District. It’ll help to illustrate the different areas within the Hamilton real estate market and provide us with sub areas. Each sub area shows what the average cost of a residential property was in May 2024 and whether that price had an increase or decrease compared to the same time period last year. In the previous section we focused on Dundas, Hamilton Mountain and Hamilton East, we’ll continue that focus in this section. 

Dundas comprises the sub area 41 and it was reported that there were a total of 31 sales in May 2024, which was an increase of 14 percent year-over-year. The average price of a residential property in this area was $906,087, a small decrease of only 11 percent year-over-year. Moving on to the next real estate area, Hamilton, which comprises quite a few sub areas.

The Hamilton Mountain reported an average residential property price of $744,286, only a small decrease of 7.3 percent. There were a total of 153 sales in May 2024, which was the greatest number of sales in the Hamilton real estate market area – this was also a 20.3 percent decrease compared to the previous year. The Hamilton Mountain comprises the sub areas of 15, 16, 17, 18, 25 and 26 – please see the list below of a breakdown of each of these areas. Also note the percentage indicating whether there was a decrease or increase in the average price of a property compared to the previous year. 

• 15 → $818,885 +2%
• 16 → $742,644 -7%
• 17 → $684,151 -6%
• 18 → $820,124 -7%
• 25 → $783,636 -8%
• 26 → $705,343 -14% 

The final area we’ll review in this section of the report is Hamilton East, where the average price of a residential property was reported to have been $610,353. This average price of a residential property had a decrease of 7.3 percent when compared to the previous year. There were a total of 68 sales, this was a 19 percent decrease compared to the same period last year. Hamilton East comprises the sub areas of 23, 24, 27 and 28. Please now turn your attention to the list of sub areas below as we breakdown the percentages of whether they saw an increase or decrease compared to the previous year. 

• 23 → $512,179 -16%
• 24 → $648,347 -10% 
• 27 → $615,400 -12%
• 28 → $661,463 +2% 

This concludes our section on the Average Residential Price by District map, take a closer look and see if you can spot your area. In the final section of our report we’ll summarize the statistics reviewed in this report and explain how a sales representative at Judy Marsales can help you navigate the Hamilton real estate market. 

Summary of Statistics for the Hamilton Real Estate Market – May 2024

In summary, there were a total of 1,052 residential real estate sales in May 2024 in the entire RAHB real estate market area. The REALTORS® Association of Hamilton-Burlington (RAHB), reported that this was a 20 percent decrease from the previous year. And it was also 31 percent below the long-term trends average for May, with this decline in sales reported across all property types. 

“Inventory levels are on the rise across all price ranges, with the most significant increases observed in the higher-priced products. This surge can be attributed to the current high - interest rate environment, which is motivating more sellers to list their properties in this bracket. However, the flip side of this trend is that escalating costs and higher interest rates are affecting consumer affordability, causing some potential buyers to pause their purchasing decisions.” – Nicolas von Bredow, President of the REALTORS® Association of Hamilton – Burlington (RAHB)

For More Information About These Statistics 

Looking for a more in-depth review of these statistics? Please refer to the Hamilton Real Estate Statistics for May 2024.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage

This report included a lot of information about the May 2024 real estate market in the Hamilton and entire RAHB real estate market area. If you have any questions about these statistics or would like to learn more about our brokerage, please reach out to our office directly, or alternatively you can find us on Facebook and Instagram.

Discover the Judy Marsales difference, where our seasoned and expert sales representatives are dedicated to serving you with professionalism and insight. Visit us at any of our three convenient locations in Hamilton, Westdale and Ancaster. Curious about your home's value? Try our 'What’s My Home Worth' calculator and uncover its potential today!

Please feel free to email us at one of our three office locations, westdale@judymarsales.com, ancaster@judymarsales.com, or locke@judymarsales.com. You can also reach us directly by phone at one of the following numbers, Westdale: 905-522-3300, Ancaster: 905-648-6800, and Locke Street South: 905-529-3300.