Residential Real Estate Market Report January 2025

​The Hamilton Real Estate Market in January 2025 trended down in sales, new listings, and inventory levels, showing a cautious start to the year, with figures remaining below long-term trends. Heightened economic risks are playing a factor in reducing buyer confidence, despite another interest rate cut by the Bank of Canada. The overall year-to-date Average Residential Price (including all property types throughout the Hamilton-Burlington areas) has gone up very slightly, by 1.5% since this time last year. (For specific area average prices, please see chart below). However, with new listings continuing to rise and sales remaining low, the higher inventory levels are giving us over four months of supply.

Sales in January throughout the Hamilton-Burlington Real Estate Board reached 558 units, down 12.5% from last year for the same month. Listings, however, increased by 22.8%. This caused the sales-to-new-listings ratio to drop to 40% (Low end of a Balanced Market), marking the lowest January start since 2011.

January 2025 had 1,408 Total Residential Listings come through the Hamilton Real Estate Board. Hamilton had 920 of those, up 35.3% from January 2024, and Burlington's share was 271 up 13.4% from the same month last year. 

The overall average price for residential properties decreased again this month from last month ($835,098) to $827,523. Hamilton's Residential Sales (including Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek, and Glanbrook) were 369 down 8.9% from January 2024, with an average price of $757,071 down 4.3% from the same month last year, and also down from last month which was $806,112. Burlington had 112 Sales which is down 16.4% from last year, with an average price of $1,105,285 which is up 14% from January 2024, however lower than last month's average of $1,124,155. For ALL Year-To-Date Average Prices please see the charts below.

The end-of-month listing inventory which is a good indication of the type of market currently being experienced now sits at 1,497 Active Residential Listings up 34.1% over January 2024, giving Hamilton 4.06 months of supply compared to 3.36 months of supply in December 2024. Burlington has 366 Active Residential Listings up 20.8% over the same month last year, giving it 3.27 months of supply compared to 2.53 last month. Overall, the number of Active Listings Available in the entire area covered by The Hamilton Burlington Real Estate Board (Cornerstone) at the end of the month now sits at 2,321 properties for sale, which is 4.16 months supply, compared to 1,873 and 2.94 months of supply one year ago in January 2024, and 2,808 properties for sale with 3.3 months of supply last month in December 2024. The average days on the market is up slightly from last year, going from 48 to 49 days year over year, however, down slightly from last month (51 days), to sell a home in Hamilton. In Burlington it went up from 41 to 42 days year over year and like Hamilton, it went down from last month (44 days).

The Hamilton-Burlington Area is now experiencing a Balanced Market Status, where the ratio of Homes Sold to Homes Listed falls between 40% and 60%, currently sitting at the 40% (4 homes sold for every 10 listed). The is sitting right on the edge of a Buyer's Market, where the ratio sits below 40%.

Year-to-date Average Prices For Hamilton

The map below shows the current Year-To-Date Average Residential Prices. When looking at the Average Prices in and around Hamilton, it is important to note how they have changed significantly over the last year and even now from month to month. If you are thinking of selling your house or condominium, get the most up-to-date. Here are a few other areas that are not listed on the map below.

Burlington - $1,129,776 - Down

Flamborough - $1,292,194 - Down

Waterdown - $992,913 - Down

Grimsby - $868,613 - Down

Caledonia - $779,822 - Down

Cayuga - $831,905 - Down

Dunnville - $630,625 - Up

Note that the “Average Sale Price" is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value.” What that means is, that not every house or condo has increased in price by the same percentage. It is really important to talk to an experienced local REALTOR® to see EXACTLY what is happening in your particular neighbourhood. It is also important to find out what you can do to your house to get the highest amount possible when you are ready to sell!

In this Market, it is important that you know about the houses getting listed immediately! Click Here to get set up on the Instant Listings Notification Search, otherwise, you will only know about listings once they are reported to the public sites. If you wait till you see it on Realtor.ca or other sites, it's too late, and is probably already SOLD!

MLS® Property Listings January 2025

Note: Numbers of sales represent sales reports on properties listed on the Multiple Listing Service (MLS®) of the REALTORS® Association of Hamilton-Burlington. The average price is calculated by dividing the total dollar volume of sales (not shown) by the number of sales in that month.