In August, there were 460 sales, an improvement over last year’s low levels, but still over 30 percent lower than long-term trends. Despite the year-over-year gain in sales, year-to-date sales were still nine per cent lower than last year.
There were 1,031 new listings in August, down from the previous month, but still higher than last year’s levels. The slight adjustment this month caused the sales-to-new listings ratio to rise to 45 percent, an improvement from the under 40 percent ratio reported throughout the spring. This helped prevent any further monthly gains in inventory levels. The months of supply ranged across areas within the region. In Hamilton, Hamilton East reported a months-of-supply of over six months, while Hamilton Mountain reported the lowest level at four months. In January 2025, Hamilton home sales saw a slower start to the year, with sales down nine percent from January 2024 and seventeen percent below the ten-year average. New listings rose by 35 per cent, contributing to a drop in the sales-to-new-listings ratio to 40 percent. This increase in supply led to a rise in inventory levels with 1,497 units—the highest for January since 2013—and kept the months of supply steady at four months, marking the sixth consecutive month at this level. The rise in inventory has impacted prices. The unadjusted benchmark price for Hamilton was $754,200 in January, a slight improvement over December but still lower than most of 2024. Year-over-year, prices are down nearly one percent, driven primarily by a 5.6 percent decline in the apartment condo sector, where prices have adjusted due to a surplus of supply. January reported 6.5 months of supply.