NOVEMBER: MARKET UPDATE

HAMILTON MARKET STATS

HAMILTON MARKET STATS

There were 487 sales reported in February, just slightly higher than last year's levels. Despite this, year-to-date sales are nearly six per cent higher than last year's. New listings rose, keeping the sales-to-new listings ratio below 60 per cent and driving further inventory gains.

While inventory levels have improved compared to the low levels reported in the past four years, they are still considered low relative to what was available in the market prior to 2014. February closed out with 2.5 months of supply, an improvement over levels reported in the second half of 2023.

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.

CONSULTATION