“Sales activity in the Hamilton-Burlington area market saw a pullback in July, with an 11.0% decline year-over-year, while new listings also continued to tighten, falling 17.6% compared to the same period last year,” said Bill Duce, CEO of Cornerstone. “At 4.6 months of supply, inventory remains high by Hamilton-Burlington’s historical standards, giving buyers more choice and creating more buyer-friendly conditions than we have typically seen in this market. However, affordability challenges continue to temper demand, with many prospective buyers still cautious despite improved selection. The MLS® Home Price Index continues to show modest adjustments, down 4.9% year-over-year, which may present some opportunities for buyers who have been waiting on the sidelines. As always, market conditions can vary significantly from neighbourhood to neighbourhood, which is why it’s important to work with a local REALTOR®.”
Hamilton-Burlington-Haldimand-Niagara North Area Highlights:
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