Hamilton Burlington Real Estate Market

Hamilton 2024 Year-End Overview

According to the RealtorsⓇ Association of Hamilton Burlington, at the close of 2024, the Hamilton Burlington real estate market reported a 1.3% increase over the previous year. Still, it remained 26% below long-term trends. New listings for the year showed a 19.1% year-over-year rise, while overall inventory saw an increase of 8.5% compared to 2023. The average number of days on the market for properties was 50.7, which was 23.1% higher than the previous year. In terms of pricing, the average benchmark price was reported at $835,098, marking a 2.2% increase on an annual basis.

Hamilton December 2024 Overview by Property Type

The data from December 2024 shows varying trends when broken down by property type. Detached homes recorded a 16.1% increase in sales over the previous period, with 330 new listings rising 12.2% year-over-year. The detached segment had an average benchmark price of $949,341, showing a 5.0% increase.

Semi-detached unit sales experienced a modest 3.7% increase, with new listings rising 113.3% year-over-year. Inventory grew by 55.6%, while the average benchmark price fell by 3.8% to $709,760.

Row houses saw 120 sales, up 36.4% from the previous period. New listings increased by 42.9%, contributing to an inventory increase of 24.5%. The average benchmark price was $710,526, a decrease of 2.5%.

Apartment-style units reported a 40.8% increase. New listings rose 6.1% year-over-year, and inventory increased 14.7%. The average benchmark price was $541,322, which increased by 3.1%.

January 2025 Overview

In January 2025, overall market activity showed some shifts compared to the year-end figures for 2024.

Total residential sales for January 2025 dropped 12.5% year over year. New listings increased significantly by 22.8%, and inventory levels rose by 23.9%. The average days on the market for properties were recorded at 49.8, reflecting a 6.5% increase year over year. In pricing terms, the benchmark price in January 2025 was $827,523, which represented a 1.5% rise year over year.

January 2025 Overview by Property Type

When examining the property type breakdown for January 2025, detached homes showed a decline of 12.6% in sales compared to the prior period. New listings increased by 25.7%. Detached property inventory showed a 20.6% rise. The average days on the market for detached properties were 49.4, up by 4.8%, with an average price of $931,408 (up 2.3%) and a median price of $822,500, which decreased by 1.5%.

Semi-detached home sales dropped by 7.4%, while new listings rose by 75.6%, increasing inventory by 98.1%. The average days on the market for semi-detached properties were 47.4. The average benchmark price was $723,954, which decreased by 4.9%.

Sales of row houses in January 2025 decreased by 4.4% year-over-year. New listings showed an increase of 11.8%; inventory increased 33.8%. The average days on the market for row houses were 43.6. The average price was $709,738, slightly decreasing by 0.8%.

Apartment-style properties saw an 18.5% decrease in sales, with new listings up by 17.2%. Inventory for apartments increased by 17.4% to 432 units. The average days on the market for flats was 61.7. The average price sat at $558,432, a decrease of 0.9%.

Regional Comparison for January 2025

The regional data for January 2025 further highlights contrasts within the Hamilton Burlington area. Burlington, for example, recorded a significant increase in benchmark prices, whereas the Hamilton Region and Haldimand County experienced moderate changes. Niagara North showed a decrease in sales and inventory, but its benchmark and median prices increased notably.