Cornerstone Association of REALTORS - Hamilton and Burlington

In April, sales in the Hamilton, Burlington, Haldimand County, and Niagara North market areas slowed to 805 units. This decline in sales represents a 26 per cent decrease compared to last April and a 46 per cent decrease below typical figures reported for April.

“Uncertainty surrounding tariffs continues to weigh on the local housing market,” says Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area. “The influx of new listings and slower sales has caused inventory levels to climb, and we are seeing that impact on home prices to varying degrees throughout local communities. With both the provincial and federal elections behind us, we are hopeful that renewed government focus on housing could provide additional support for buyers in the coming months, improving affordability and restoring buyer confidence, paving the way toward more balanced market conditions.”

In April, 2,043 new listings were added to the market, causing the sales-to-new listings ratio to drop to 39 per cent. The increase in new listings and slower sales have escalated inventory levels, driving up the months of supply to four months—the highest figure for the month of April since 2009.

Rising supply choices and weaker demand continue to weigh on home prices. In April, the unadjusted benchmark price was $803,700, down nearly one per cent from the previous month and over six per cent lower than last year’s levels. Prices are lower than last year across the region, with the most significant year-over-year monthly decline occurring in Burlington.

The statistics provided in this report are based on information from the ITSO MLS® System. Multiple MLS®Systems operate within Ontario, and while none can beguaranteed to include every property listed or sold within a given area, they effectively illustrate market trends.