REALTORS® Association of Hamilton and Burlington

Market Conditions


Single Detached

Months of inventory for single detached homes numbered 4.1 at the end of the fourth quarter of 2023, up from the 3.4 months recorded at the end of the fourth quarter of 2022.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Despite a more balanced market, homes spent the same amount of time on the market in the fourth quarter of 2023 as they had a year earlier.

The median number of days on market for single detached homes was 23 in the fourth quarter of 2023, unchanged from 23 days in the fourth quarter of 2022.


Townhouse

Months of inventory for townhouse and row units numbered 2.9 at the end of the fourth quarter of 2023, up slightly from the 2.5 months recorded at the end of the fourth quarter of 2022.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

Despite a more balanced market, townhouse and row units spent the same amount of time on the market in the fourth quarter of 2023 as they had a year earlier.

The median number of days on market for townhouse and row units was 22 in the fourth quarter of 2023, unchanged from 22 days in the fourth quarter of 2022.



Apartment Units

Months of inventory for apartment units numbered 7.3 at the end of the fourth quarter of 2023, up from the 4.4 months recorded at the end of the fourth quarter of 2022. This was the highest level of months of inventory ever recorded in any quarter.

The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.

With a more balanced market, apartment units spent more time on the market in the fourth quarter of 2023 than they had a year earlier.

The median number of days on market for apartment units was 32 in the fourth quarter of 2023, up slightly from 28 days in the fourth quarter of 2022.



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