Information and updates about the Greater Hamilton Area Real Estate market conditions

Hamilton Real Estate Market Statistics for June 2024

 Wednesday, July 17, 2024     Kirsten McNamee     Local Hamilton Market Statistics Real Estate Trends

Featured Photo

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 

residential-activity-june-2024

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

property-type-comparision-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

regional-summary-june-2024

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

average-residential-price-by-district-june-2024

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 Real Estate Market Statistics for May 2024

 Wednesday, June 12, 2024     Kirsten McNamee     Local Hamilton Market Statistics Real Estate Trends

Featured Photo

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

hamilton-residential-activity-and-prices-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

hamilton-property-type-comparison-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

hamilton-regional-summary-may-2024

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

average-residential-price-by-district-may-2024

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.


Hamilton Real Estate Market Statistics for April 2024

 Monday, May 13, 2024     Kirsten McNamee     Local Hamilton Market Statistics Real Estate Trends

Featured Photo

Hamilton Real Estate Statistics for April 2024

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

It was reported that in the entire RAHB real estate market area there were a total of 1,041 sales of residential real estate properties. That number indicated a seven percent decrease when compared to the same time period last year. The number of sales was also below the long-term trends for April. The report also showed that the year-to-date sales have remained comparable to 2023 numbers even despite a pullback that was reported over the last couple of months. 

RAHB reported that when it came to apartment style property sales there was a moderate decrease when compared to the same time last year. This outweighed the sales in the semi-detached and row properties. The report also mentioned that the unadjusted benchmark price was trending above what we saw in March. 

“The unadjusted benchmark price trended up over March, reaching $859,600 in April. Despite the monthly gains, prices were just over one percent lower than levels reported in April 2023. Prices trended up over the last month across all regions in the RAHB market area. However, Haldimand County is the only area that reported a year-over-year price gain.” – RAHB

When it came to new listings reported in the entire RAHB real estate market area, there was a reported increase with a total of 2,085 units. The sales-to-new-listings ratio was 50 percent and helped to drive the inventory gains. Inventory levels saw an increase across all property types and price ranges in April 2024. In the report posted by RAHB, it stated that the inventory levels have been quite low over the past decade.

“Rising inventory compared to sales impacted the months of supply, which trended up over March and last year’s levels. Last April, both Hamilton and Burlington reported that their monthly supply was below two months, with the tightest conditions in the Burlington region. Interestingly, while these centres still have the tightest market conditions, they report the most significant year-over-year gain.” – RAHB 

In the next section of this report we’ll take a look at the Hamilton real estate market and review the below chart, Residential Activity and Prices for April 2024. Then we will compare those numbers to what was reported in April 2023.

Hamilton Residential Activity and Prices for April 2024

residential-activity-april-2024

The above chart, Residential Activity and Prices for April 2024/2023, 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. 

It was reported that in April 2024 there were a total of 611 sales of residential properties within the Hamilton real estate market, “year-to-date sales to remain comparable to last year”. This was a nine percent decrease from previous year, with most of the withdrawals being in the detached properties.

New listings were reported to have had an increase of 37.7 percent with a total of 1,257 units. This caused the sales-to-new-listing ratio to have a decline of 49 percent and at the same time helped to increase the inventory growth. The months of supply grew to almost three months, which was the highest seen since April 2020. The average price of a home reported in the Hamilton real estate market was $818,387, which was a very small one percent increase.

“The unadjusted benchmark price in April was $794,400, a slight gain over last month and over one per cent lower than levels reported last April. Prices generally trended down in the second half of last year, and while they have been trending up compared to the end of 2023, they have yet to reach the levels reported during the spring of 2023 – RAHB 

We’ll now turn our attention to the next section of this report and review the Property Type Comparison for April 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 April 2024

property-type-comparison-april-2024

Let’s now turn our attention to the above chart, Property Type Comparison for April 2024, and review each property type. The chart allows us to compare the sales, new listings, inventory, average price and much more. 

According to RAHB, new listings saw an increase across all property types in April 2024, and due to this, it helped support the inventory growth. Row property types had the greatest increases when it came to the inventory levels. Below is a breakdown of each property type, what their total number of sales were, new listings and their average price for April 2024. This breakdown also shows if those numbers have increased or decreased compared to the previous year. 

Detached: 

  • Average Price → $913,056 +0.9%
  • New Listings → 802 +30%
  • Sales → 388 -8.9%

Semi-Detached: 

  • Average Price → $705,490 +8.2%
  • New Listings → 45 +32.4%
  • Sales → 30 +3.4%

Row: 

  • Average Price → $723,425 +0.6% 
  • New Listings → 244 +39.4%
  • Sales → 136 -6.2%

Apartment-Style: 

  • Average Price → $463,922 -6.7%
  • New Listings → 159 +33.6%
  • Sales → 54 -19.4%

“Rising inventory coupled with slowing sales caused the months of supply to rise across all property types compared to 2023. Row and semi-detached homes continue to face the tightest conditions with less than two months of supply, while the detached market saw the months of supply rise to nearly three months. Apartment-style homes have the most supply relative to demand with just over five months.” – RAHB

Moving on, in the next section of this report we want to review the chart, Regional Summary for the Hamilton Real Estate Market. This chart will 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

regional-summary-april-2024

In the above chart, Regional Summary, we can see each area within the Hamilton real estate market area. RAHB reported that in April 2024, the year-to-date sales activity differed within the real estate market. There were higher sales seen in the areas of Hamilton East, Flamborough, Dundas, Ancaster and Glanbrook. These higher sales helped to correct the losses felt in other areas. 

Now we can really take a look at the above chart, Regional Summary, and get a closer look at each area within the Hamilton real estate market. For the rest of this section of the report we’ll focus on the areas of, Hamilton Centre, Stoney Creek and Hamilton Mountain. The reason for this is that these areas reported the highest sales for April 2024.

Taking a look at the Hamilton Centre we can see that there were a reported 71 sales of residential properties in April 2024. This was a 12.3 percent decrease when compared to the previous year. Inventory levels were reported to have been 215 units, an increase of 16.8 percent year-over-year. This area had a total of 151 new listings, this was an increase of 7.9 percent compared to the same period last year. When it came to the average price of a property in this area it was reported to have had only a very slight decrease of 0.4 percent and was reported to have been $569,773. 

Next we’ll turn our attention to the area of Stoney Creek, which reported a total of 94 sales of residential properties, the second largest number of sales reported in April 2024. This number of sales was a very small decrease of 5.1 percent when compared to the previous year. Inventory levels were reported to have been a total of 280 units and an increase of 52.2 percent year-over-year. The average price of a residential property in this area was reported to have been $791,817, this was a very small decrease of 4 percent compared to the previous year. The number of new listings reported in Stoney Creek had a big increase of 50.7 percent with a total of 205. 

The Hamilton Mountain has continued to maintain its status as the area with the greatest number of sales. There were a reported 142 sales of residential properties in April 2024, that’s a 10.7 percent increase compared to the previous year. The area reported an increase of 93.2 percent when it came to inventory, with a total of 282 units. New listings saw an increase of 35.6 percent with a total of 244 units listed. The average price of a residential property in this area saw only a very small decrease of 1.1 percent and was reported to have been $772,599.

The next section of this report will focus on the below map, Average Residential Price by District. This map illustrates the different areas within the Hamilton real estate market by breaking them down into sub areas. 

Average Residential Price by District

average-residential-price-by-district-april-2024

In this section of the report we’ll be reviewing the above map, Average Residential Price by District. This map helps to illustrate the different areas within the Hamilton real estate market and provides us with sub areas. These sub areas show what the average cost of a residential property was in April 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 the areas of Hamilton Centre, Hamilton Mountain and Stoney Creek. We’ll continue that focus in this section as well, reviewing their sub areas and therefore getting a closer look at the April 2024 real estate market. 

The Hamilton Mountain reported the greatest number of sales in April 2024, with a total of 142, a 10.7 percent decrease year-over-year. According to RAHB, the average price of a residential property in this area was $772,599 – a small decrease of only 1.1 percent. The sub areas that comprise the Hamilton Mountain are as follows, 15, 16, 17, 18, 25 and 26. Please see the breakdown of these sub areas below. This breakdown allows us to see which areas had an increase in the average price and which had a decrease compared to the previous year.

  • 15 → $787,875 -1% 
  • 16 → $759,546 -6%
  • 17 → $709,796 -1% 
  • 18 → $855,886 -4%
  • 25 → $762,650 +6% 
  • 26 → $791,576 -1%

When we review the area of Stoney Creek we can see that this area had the second highest number of residential property sales. There were a total of 94 sales and only a slight decrease of 5.1 percent. The average price of a residential property in this area was $791,817, another small decrease of only four percent. Stoney Creek comprises the sub areas, 50, 51 and 52, please see the below breakdown of these areas. This will once again allow us to see what the average price was and compare it to the same time period last year. 

  • 50 → $821,780 -4%
  • 51 → $779,142 +1%
  • 52 → $835,167 -57% 

The final area that we’ll review in this section of the report is Hamilton Centre, which according to the RAHB report had the third highest number of residential property sales. This area reported a total of 71 sales, which was a decrease of 12.3 percent. The average price of a residential property in this area was $567,773 – a small decrease of only 0.4 percent compared to the previous year. The total number of new listings reported in Hamilton Centre was 151 in April 2024 and was a 7.9 percent increase. Listed below is the breakdown of sub areas and their average residential prices. The sub areas in Hamilton Centre include, 13, 14, 20, 21 and 22. 

  • 13 → $652,375 +7%
  • 14 → $517,474 +1%
  • 20 → $552, 820 -10% 
  • 21 → $461,875 +1% 
  • 22 → $715,083 +5% 

This concludes our section on the Average Residential Price by District map. In the final section of our report we’ll summarize the statistics reviewed 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 – April 2024

In summary, there were a total of 1,041 sales of residential real estate properties in the entire RAHB real estate market area. This was reported to have been a seven percent decrease when compared to the same time period last year. With the unadjusted benchmark price trending above what we saw in March, the price was $859,600 in April 2024. This was one percent decrease when compared to the previous year. 

“Higher lending rates continue to weigh on potential purchasers, with some delaying any decision until later this year. At the same time, we continue to see new listings rise, providing more choice in the market and preventing any significant shifts in home prices,” – 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 April 2024.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage

The report included a lot of information about the April 2024 real estate market in the Hamilton and surrounding areas. If you have any questions 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. 

At Judy Marsales we pride ourselves on having experienced, knowledgeable and professional sales representatives. You can reach us at one of our three offices located in the Hamilton and surrounding areas. And if you’ve been wondering about what your home might be worth, give our “What’s My Home Worth” calculator a try and find out. 

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. 


Hamilton Real Estate Market Statistics for March 2024

 Wednesday, April 10, 2024     Kirsten McNamee     Local Hamilton Market Statistics Real Estate Trends

Featured Photo

Real Estate Statistics for March 2024

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

RAHB reported that there were a total of 996 residential real estate sales within the entire real estate market. This was a six percent decrease when compared to the same time last year. This decrease, however, was not enough to offset the gains that were seen during both February and January. 

It was also reported that in the first quarter sales in the region remained lower than the long term real estate trends for 2024. In the RAHB report it also stated that new listings continued to rise, and due to this rise the sales-to-new-listings ratio was below 60 percent. The result was a further supply in the inventory gains. The inventory levels saw an increase of 28 percent compared to March 2023, however, last year the levels were remarkably low. 

“Inventory levels in March closed out with just over two months of supply. This is an increase over last year but lower than the four months of supply reported at the end of 2023. Conditions are the tightest in the Burlington region, with less than two months of supply. Haldimand saw the highest supply-to-demand ratios, with just below four months of supply.” – RAHB 

In the next section of this report we’ll focus on the Hamilton real estate market area and review the new listings, sales and average price of a residential property. We’ll then compare these numbers to what we saw this time last year. 

Hamilton Real Estate Market – Residential Activity 

residential-activity-and-prices-march-2024

In the above graph, Residential Activity and Prices, we can see that it illustrates the number of sales of residential properties within the Hamilton real estate market. This graph shows the sales, number of new listings, the benchmark price and the average residential price of a property from March 2023 to March 2024.

RAHB reported that there were a total of 596 sales within the Hamilton real estate market area in March 2024. This was a slight decrease from the previous year, with a difference of only seven percent. Even though this decrease was small compared to March 2023, the year-to-date sales are comparable to last year, however, they still remain lower than the long term trends. New listings saw an increase of 12.6 percent compared to the previous year, with a total of 1,053 new listings reported in the Hamilton real estate area. 

This is the third month in a row that we saw an increase in new listings and due to this rise, there was an ease in the sales to new listings ratio with a difference of 57 percent. Inventory also had an increase, it was reported that there was an increase of 31.3 percent with a total of 1,486 units in March 2024. 

“Rising new listings compared to sales equated to further inventory gains. While inventory levels have improved compared to the low levels reported in the past four years, they are low relative to what was available in the market before 2014.” – RAHB 

The average price of a residential property had a small increase of 3.9 percent in March 2024, with the price of $826,462. While the unadjusted benchmark price was reported to have been $788,300 – this was an increase compared to the previous month and a two percent increase when compared to March 2023. 

“The unadjusted benchmark price in March was $788,300, up from last month and over two per cent higher than last year. The shift to more balanced conditions relative to the later part of 2023 is supporting some of the rebound in home prices.” – RAHB 

Now that we’ve had an overview of the Hamilton area real estate market statistics, let’s dive a little deeper. In the next section of this report we’ll take a look at the different property types and how they contributed to the overall real estate statistics for March 2024. 

Property Type Comparison for March 2024

property-type-comparison-for-march-24

The REALTORS® Association of Hamilton-Burlington (RAHB), reported that the year-over-year sales for March 2024 saw a “pullback” and this was due to the slowing of sales in detached properties. However, new listings saw increases across all property types and this helped to support the inventory gains that were seen in March 2024. 

“Months of supply rose compared to last year across all property types, ranging from a high of four months in the apartment sector to under two months for semi-detached and row properties. Higher supply levels relative to demand in the apartment condominium sector left prices slightly lower than levels reported in March 2023. However, prices have improved for all other property types, with year-over-year gains pushing above three per cent in the detached and semidetached sectors.” – RAHB 

We’ve listed a breakdown of the different property types, their average prices and number of new listings for March 2024 compared to the previous year and whether that price had an increase or decrease. This breakdown also includes the number of sales of each property type. 

Detached: 

  • Average price → $927,501 +6%
  • Sales → 387 -11.6% 
  • New Listings → 651 +6.2%

Semi-Detached: 

  • Average Price → $701,434 +9%
  • Sales → 29 +3.6%
  • New Listings → 42 +2.4%

Row: 

  • Average Price → $708,920 -2.1%
  • Sales → 116 +3.6%
  • New Listings → 216 +30.1%

Apartment: 

  • Average Price → $481,159 +4.9%
  • Sales → 62 +3.3%
  • New Listings → 142 +26.8%

Now that we’ve reviewed the different property types, we can take a closer look at the different real estate market areas. In the next section of this report we’ll review the below chart which breaks down each area and allows us to see the average price, number of sales, new listings and more.

Regional Summary for the Hamilton Real Estate Market

regional-summary-march-24

The REALTORS® Association of Hamilton-Burlington (RAHB), reported that the sales activity saw an increase in Hamilton East, Flamborough, Dundas, Ancaster and Glanbrook in March 2024. This sales activity was able to help “offset any pullbacks” reported in other parts of the city. RAHB also reported that, “new listings increased across most of Hamilton, enough to drive year-over-year inventory gains across most areas.”  

Let’s now take a closer look at the above chart, Regional Summary, which allows us to see each area within the Hamilton real estate market. Our focus in this section of the report will be Hamilton East, Dundas and Ancaster. We’ll review their total number of sales, average prices and number of new listings. Then we’ll look at how that price compares to the same time period last year. 

RAHB reported that in Hamilton East there were a total of 55 sales of residential properties. This was a decrease of 12.7 percent when compared to the same period last year. Inventory levels in this area were reported to have had an increase of 18.9 percent with a total of 107 units. However, when it came to new listings there was a decrease of 11.8 percent and a total of 82 properties listed. The average price of a residential property in this area was $627,437 – this was a small decline of only 2.2 percent when compared to the previous year. 

The next area that we’ll take a closer look at is Dundas, this area had a total of 38 sales in March 2024, which was a 31 percent increase. Inventory levels in this area also saw an increase, the increase was 16.7 percent with a total of 35 units. It was reported that new listings also had an increase, it was small and was 5.9 percent with a total of 36 new listings. The average price of a residential property in Dundas in March 2024 was $948,290, reporting an 11.9 percent increase from the previous year. 

Finally, we’ll review Ancaster which saw an increase in almost all areas. The total number of sales in this area in March 2024 was 55, a 3.8 percent increase when compared to the same period last year. Inventory levels were reported to have had a 55 percent increase with a total of 145 units. New listings had a total of 108 with an increase of 33.3 percent year over year. In Ancaster the average price of a residential property in March 2024 was reported to be $1,223,189, a very small decrease of only 0.4 percent respectively. 

Moving onto the Average Residential Price by District map, as seen below in the next section of this report. We’ll be able to take a close look at the entire Hamilton real estate market area. Each area is broken down into sub areas, allowing us to get a closer look at the average price of a residential property. 

Average Residential Price by District

average-residential-price-by-district-march-24

The above map, Average Residential Price by District, illustrates the different areas within the Hamilton real estate market area. Each of these areas are broken down into sub areas, allowing us to see what the average price of a residential property was and whether that price saw an increase or decrease compared to the previous year. 

The previous section focused on the areas that had an increase in residential property sales, we’ll continue that focus in this section as well. Those areas were, Hamilton East, Dundas and Ancaster. We’ve broken each area down into sections below that include a list of each sub area, this is to better understand the price breakdowns and the increases and decreases. 

Starting with Hamilton East, which had an average residential property price of $627,437, this was a decline of 2.2 percent when compared to the same period last year. The total number of sales in this area were 55, which was a 12.5 percent decrease compared to March 2023. Hamilton East comprises the sub areas; 23, 24, 27 and 28. 

  • 23 → $579,885 +11%
  • 24 → $640,386 -9%
  • 27 → $723,350 +6%
  • 28 → $636,005 -9% 

Dundas and Ancaster only each take up one sub area, with Dundas in area 41 and Ancaster in area 42. Dundas reported an average price of a residential property to be $948,290, this was a 12 percent increase when compared to the previous year. The total number of sales in this area, as we mentioned in the previous section, was 38 in March 2024. 

Ancater reported that the average residential property price in March 2024 was $1,223,189 and was only a slight decrease of 0.4 percent. This area reported a total of 55 sales in March 2024, a 3.8 percent increase when compared to the same period last year. As mentioned above, Ancaster comprises the sub area 41 on the map, take a look and see where your area is to get a better understanding of what the average price of a residential property was in March 2024. In the final section of this report we’ll summarize the statistics and also provide information on how you can contact a sales representative at Judy Marsales Real Estate Brokerage. 

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

In conclusion, when we look at the entire real estate market area, we can clearly see that there were a total of 996 sales of residential properties in March 2024 – six percent lower than reported this time last year. RAHB reported that the sales to new listings ratio was 60 percent, helping to support inventory gains.

In the Hamilton real estate market, RAHB reported that there were a total of 596 sales of residential properties, this was a seven percent decrease compared to the previous year. RAHB also reported that in Hamilton the average price of a residential property was $826,462, only a small increase of 3.9 percent lower than the previous year. New listings in Hamilton saw an increase of 12.6 percent with a total of 1,053. When it came to inventory levels in the Hamilton real estate market, the area saw an increase of 31.3 percent. 

“Recent gains in inventory are helping our market return to more balanced conditions, something that we have not seen since 2014. It is still early in the year, and many purchasers may be waiting for changes in lending rates, but for the first time in years, we are not entering the spring market with limited supply,” – Julie Sergi, President-Elect 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 March 2024.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage

Do you have any questions about the Hamilton real estate market? Then please don't hesitate to contact one of our knowledgeable and professional sales representatives at Judy Marsales Real Estate Brokerage. 

Please note that Judy Marsales Real Estate Brokerage has three locations in the Hamilton area; Locke Street South, Westdale and Ancaster – please feel free to contact us at any of these locations. 

If you're interested in learning more about what your home might cost, give our “What’s My Home Worth” calculator a try. All of us at Judy Marsales Real Estate Brokerage look forward to working with you soon.

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. 


Hamilton Real Estate Market Statistics for February 2024

 Friday, March 8, 2024     Kirsten McNamee     Local Hamilton Market Statistics Real Estate Trends

Featured Photo

Real Estate Statistics for February 2024

The REALTORS® Association of Hamilton-Burlington (RAHB), have released their report on the February 2024 real estate statistics, in this report we’ll be reviewing some of these statistics. Our report will have a strong focus on the Hamilton real estate market area statistics.

RAHB reported that there were a total of 839 sales of residential real estate properties in the entire real estate market in February 2024. This was a moderate increase compared to the previous year. Since this year was a leap year, it offered one more day of the February market, however, RAHB stated in their report that this extra day had no impact on Haldimand County where activity was reported to have slowed compared to the year before. 

It was reported that there were significant increases in Niagara North and Burlington, which were able to help offset the slowed activity seen in Haldimand County. There was a nine percent increase year-to-date, but this was still 19 percent lower than the long-term trends. 

“A total of 1,489 new units were listed in February, which is slightly higher than long-term trends. However, levels were nearly 23 per cent higher compared to last year. The sales-to-new listings ratio was 56 per cent, which helped boost inventory levels over the previous month. Inventory levels were nearly 18 per cent higher than last year. Supply improved across almost every price range in the total region.” – RAHB

In the next section of this report we’ll focus on the Hamilton real estate market and review the residential activity. This chart is able to show us the total number of sales of residential properties within the Hamilton real estate market, we’ll also look at the number of new listings recorded in February 2024 and the average price of a property in Hamilton. 

Hamilton Real Estate Market – Residential Activity 

residential-activity-feb-2024

The above chart, Residential Activity and Prices, illustrates the number of sales of residential properties within the Hamilton real estate market, the number of new listings, the benchmark price and the average residential price of a property for February 2024. RAHB also reported that there were a total of 487 sales of residential properties – this was a 2.1 percent increase when compared to the same period last year and with a six percent increase year-to-date sales. Inventory levels were reported to have improved when compared to the lower levels seen over the last four years. However, the inventory levels are still considerably low comparative to the levels that were seen before 2014. 

The average price of a residential property within the Hamilton real estate market was reported to have decreased by 2.4 percent when compared to the previous year. With the average price of a property being $778,238 in February 2024. The number of new listings reported by RAHB for February was 890, which was an increase of 19.8 percent compared to the previous year. The sales to new listings ratio was below 60 percent which also helped to drive the inventory levels. 

“The shift to more balanced conditions helped support home prices in the region. The unadjusted benchmark price in February reached $777,400, trending up over the previous month and nearly one per cent higher than last year.” – RAHB

The next section of this report will focus on the different property types. The chart below will allow us to get a close look at the number of properties sold, sales and average prices reported in February 2024. 

Property Type Comparison for February 2024

property-type-comparision-feb-2024

The REALTORS® Association of Hamilton-Burlington (RAHB), reported that there were increases seen in row and apartment sales. These sales helped to outweigh the withdrawals that were reported in the detached and semi-detached sectors. The report also makes it clear that the gains in new listings were driven by detached properties, row and apartment-style properties; this factor is also seen in the inventory levels reported by RAHB in their February 2024 report.  

“Despite some shifts in detached and semi-detached activity, prices for those property types rose by one and two per cent, respectively, over last February. Meanwhile, year-over-year price growth remained relatively flat for row-style homes and declined in the apartment condominium sector.” – RHAB

Listed below is a breakdown of the different property types, their average prices for February 2024 compared to the previous year and whether that price had an increase or decrease. This breakdown also includes the number of sales of each property type. 

Detached: 

  • Average Price → $863,806 -1.1% 
  • Sales → 306 -2.5%
  • New Listings → 589 +23.7%

Semi-Detached: 

  • Average Price → $607,947 -20.1% 
  • Sales → 19 -17.4% 
  • New Listings → 26 -20.2%

Row: 

  • Average Price → $713,584 +0.7%
  • Sales → 109 +13.5% 
  • New Listings → 150 +13.6% 

Apartment: 

  • Average Price → $471,259 0.0% 
  • Sales → 52 +18.2%
  • New Listings → 119 +20.2% 

We’ve now reviewed the different property types in the Hamilton real estate market and we can now take a closer look at the different real estate market areas. The below chart breaks down each area and allows us to see the average price, number of sales, new listings and more. 

Regional Summary for the Hamilton Real Estate Market

regional-summary-feb-2024

In the report released by RAHB, it found that the adjustments, when it came to new listings, varied across the entire Hamilton real estate market. It was reported that while the sales were below the long-term trends, the year-to-date sales saw an improvement in Hamilton Centre, Hamilton East, Hamilton West, Flamborough, Ancaster and Waterdown. According to RAHB, “at the same time, inventory levels eased in Hamilton Centre and Hamilton West, contributing to slightly tighter conditions than in the previous year in those areas.”

Let’s now take a closer look at the above chart, Regional Summary, which allows us to see each area within the Hamilton real estate market. Our focus will be on Hamilton Centre, Hamilton Mountain and Stoney Creek. The reason why we’re choosing to focus on these areas is because they had the greatest number of residential property sales reported in February 2024. 

The Hamilton Mountain reported the greatest number of residential property sales in February 2024, with a total of 108 sales – this was a decrease of 6.9 percent when compared to the same period last year. When it came to the average price of a property it was reported to have been $723,042. The average price of a residential property saw a very small decrease of only 1.4 percent year-over-year. When it came to the number of new listings there were a total of 198, which was a significant increase of 44.5 percent compared to the previous year. 

RAHB reported that Stoney Creek had a total of 80 sales of residential properties in February 2024. This makes it the area with the second highest number of sales and with only a small decrease of 3.5 percent year-over-year. When it came to the average sales price of a property, it was reported to have been $793,013, a very small decrease compared to the same period last year. New listings were reported to have had a slight decrease of only 2.7 percent compared to the previous year with a total of 145 residential listings. 

The final area we’ll review in our report is Hamilton Centre, which reported the third highest number of sales. The number of sales in this area, as reported by RAHB, was 63 and this was an increase of 14.5 percent compared to the same time last year. The average price of a residential property in this area was reported to have been $566,699 – this was an increase of 1.0 percent compared to the previous year. Finally, the new listings reported by RAHB for this area were 123, an increase of 19.4% year-over-year. 

Next we’ll take a look at the map below, this map illustrates the different areas within the Hamilton real estate market and their sub areas. We’ll further breakdown the Hamilton Mountain, Hamilton Centre and Stoney Creek areas.

Average Residential Price by District

average-price-by-district-feb-2024

In this section of our report we’ll review the above map, Average Residential Price by District, and we’ll take a closer look at each sub area. The map allows us to see what the average price of a residential property was within each area and whether that price saw an increase or decrease compared to the same time period last year. 

The previous section focused on the areas that had the greatest number of residential property sales, we’ll continue that focus in this section as well. We’ve broken each area down into sections below that include a list of each sub area, this is to better understand the price breakdowns and the increases and decreases. 

Let’s take a look at the Hamilton Mountain which had a total of 108 sales, the greatest number of sales compared to all other areas within the Hamilton real estate market. This was a decrease of 6.9 percent compared to the previous year. The average price of a residential property was $723,042, this was a small decrease of 1.4 percent. The sub areas that comprise the Hamilton Mountain are, 15, 16. 17, 18, 25 and 26. Please see the list below with all of their average prices and percentages indicating whether the price saw an increase or decrease. 

  • 15 → $772,300 +14%
  • 16 → $809,987 +4%
  • 17 → $657,238 +1% 
  • 18 → $751,290 -10% 
  • 25 → $656,250 -6$
  • 26 → $667,191 -3% 

The next area that we’ll take a closer look at is Stoney Creek, which reported a total of 80 sales, making it the area with the second highest number of sales. The number of new listings RAHB reported in this area were 145 and an average residential property price of $793,013 – which was a slight decrease of 2.3 percent compared to the previous year. Stoney Creek comprises the sub areas, 50, 51 and 51. Let’s take a closer look at each of these areas to see what their average sale prices were for a residential property. 

  • 50 → $857,153 +2% 
  • 51 → $731,578 -4% 
  • 52 → $677,500 -68% 

The final area that we’ll review on this map is Hamilton Centre, which had the third highest number of residential property sales in February 2024. The total number of sales in this area, as reported by RAHB were 63 and a total of 123 new listings. The average price of a residential property in this area was $566,699 – this was a very small increase of only one percent year-over-year. Hamilton Centre comprises the sub areas, 13, 14, 20, 21, and 22. Listed below are each of these areas with their average residential sale prices and percentages indicating whether the price saw an increase or decrease.

  • 13 → $566,500 -10% 
  • 14 → $509,846 -5%
  • 20 → $547,705 +3% 
  • 21 → $475,778 +2%
  • 22 → $746,411 +7%

This concludes our review of the Average Residential Price by District map. In the final section of this report we’ll summarize the overall statistics and the Hamilton real estate market statistics for February 2024. Then we’ll explain how you can contact one of our knowledgeable and professional sales representatives who can help you find your next home. 

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

As we bring this report to a close we can conclude that there were a total of 839 sales of residential properties within the entire RAHB real estate market area. This was a moderate gain when compared to the previous year. It was also reported that there were a total of 1,489 new listings and that this was somewhat of an increase when compared to the long-term trends. 

The REALTORS® Association of Hamilton-Burlington (RAHB), reported that in the Hamilton real estate market there were a total of 487 sales of residential properties. This was a 2.1 percent increase when compared last year and with year-to-date sales seeing a six percent increase when compared to the previous year. The average price of a residential property within the Hamilton real estate market area was $778,238, this was 2.4 percent decrease compared to the previous year. 

“While supply gains may seem significant, it is important to remember that we have generally seen lower resale supply levels in our market for nearly a decade. At the same time, we are starting to see improvements in sales, keeping our market relatively balanced with over two months of supply and a sales-to-new listings ratio of 57 per cent,” – 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 February 2024.

Contact a Sales Representative at Judy Marsales Real Estate Brokerage

Do you have any questions about the Hamilton real estate market? Then please don't hesitate to contact one of our knowledgeable and professional sales representatives at Judy Marsales Real Estate Brokerage. 

Please note that our real estate brokerage has three locations in the Hamilton area; Locke Street South, Westdale and Ancaster. You can count on our knowledgeable and professional sales representatives who will be more than happy to assist you. If you're interested in learning more about what your home might cost, give our “What’s My Home Worth” calculator a try. All of us at Judy Marsales Real Estate Brokerage look forward to working with you soon.