Are house prices dropping in Hamilton? That’s the question on every buyer and seller’s mind. As we step into 2025, Hamilton’s real estate market is showing some interesting trends, with price adjustments, shifting inventory levels, and new opportunities for both buyers and sellers. Here’s what you need to know.
For Buyers: More Choices, Less Competition
- Increased Inventory: 920 new listings—up 35% from January 2024. More listings mean more options!
- Condo Prices Drop: Apartment condo prices fell 5.6% year-over-year. It’s the perfect time for condo buyers.
- It’s a Buyer’s Market: The sales-to-new-listings ratio is just 40%. Buyers have stronger negotiating power.
- Take Your Time: With 6.5 months of condo supply and 4 months overall, you can make thoughtful decisions.
For Sellers: Strategic Pricing is Key
- Focus on Hot Neighborhoods: Dundas, Stoney Creek, and Glanbrook are outperforming long-term trends.
- Price to Sell: The average sale price is $757,071. Competitive pricing is essential with rising inventory.
- Expect Longer Sales: Properties are averaging 49 days on the market. Patience and smart pricing are your friends.
- Row Homes Stay Steady: Detached prices dipped, but row homes remain stable.
Neighborhood Highlights
- Hamilton Centre & Hamilton West: Higher months of supply mean slower sales.
- Luxury Market: Homes priced over $1M have 3.8 months of supply—selling slower than mid-range homes.
Looking Ahead
Inventory is rising, and higher rates impact buyer confidence. Stay informed and strategic—whether buying or selling—to make the best decisions.
Want to see how this applies to your real estate goals? Reach out! We’re here to help.
No obligation—just expert advice!
