In January 2025 compared to December 2024, overall sales declined while new listings, inventory levels, average days on the market, and benchmark prices all increased modestly. Detached homes and row houses experienced minimal changes in pricing and days on the market, whereas semi-detached and apartment-style units showed greater variability in listing numbers and price adjustments.
2024 Year-End Overview
According to the RealtorsⓇ Association of Hamilton Burlington, at the close of 2024, the Hamilton Burlington real estate market reported a 1.3% increase over the previous year, but it remained 26% below long-term trends. New listings for the year showed a 19.1% year-over-year rise, while overall inventory saw an increase of 8.5% compared to 2023. The average number of days on the market for properties was 50.7, which was 23.1% higher than the previous year. In terms of pricing, the average benchmark price was reported at $835,098, marking a 2.2% increase on an annual basis.
December 2024 Overview by Property Type
When broken down by property type, the data from December 2024 shows varying trends. Detached homes recorded a 16.1% increase in sales over the previous period, with 330 new listings rising 12.2% year-over-year. The detached segment had an average benchmark price of $949,341, showing a 5.0% increase.
Semi-detached unit sales experienced a modest 3.7% increase, with new listings rising by 113.3% year-over-year. Inventory rose by 55.6%, while the average benchmark price fell by 3.8% to $709,760.
Row houses saw 120 sales, up by 36.4% from the previous period. New listings increased by 42.9%, contributing to an inventory which rose by 24.5%. The average benchmark price was $710,526, a decrease of 2.5%.
Apartment-style units reported a 40.8% increase. New listings rose 6.1% year-over-year, with an inventory that increased 14.7%. The average benchmark price was $541,322, which increased by 3.1%.
January 2025 Overview
In January 2025, overall market activity showed some shifts compared to the year-end figures for 2024.
Total residential sales for January 2025 dropped 12.5% on a year-over-year basis. New listings in the month increased significantly by 22.8%; inventory levels also rose by 23.9%. The average days on the market for properties were recorded at 49.8, reflecting a 6.5% increase year-over-year. In pricing terms, the benchmark price in January 2025 was $827,523, which represented a 1.5% rise on a year-over-year basis.
January 2025 Overview by Property Type
When examining the property type breakdown for January 2025, detached homes showed a decline of 12.6% in sales compared to the prior period. New listings increased by 25.7%. Detached property inventory showed a 20.6% rise. The average days on the market for detached properties were 49.4, up by 4.8%, with an average price of $931,408 (up 2.3%) and a median price of $822,500, which decreased by 1.5%.
Semi-detached home sales dropped 7.4%, while new listings rose by 75.6%, which contributed to inventory rising 98.1%. The average days on the market for semi-detached properties were 47.4. The average benchmark price was $723,954, which decreased by 4.9%.
Sales of row houses in January 2025 decreased by 4.4% year-over-year. New listings showed an increase of 11.8%; inventory increased 33.8%. The average days on the market for row houses were 43.6. The average price was $709,738, with a slight decrease of 0.8%.
Apartment-style properties saw an 18.5% decrease in sales, with new listings up by 17.2%. Inventory for apartments increased by 17.4% to 432 units. The average days on the market for apartments was 61.7. The average price sat at $558,432, for a decrease of 0.9%.
Regional Comparison for January 2025
The regional data for January 2025 further highlights contrasts within the Hamilton Burlington area. Burlington, for example, recorded a significant increase in benchmark prices, whereas the Hamilton Region and Haldimand County experienced moderate changes. Niagara North showed a decrease in sales and inventory, but its benchmark and median prices increased notably.