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In December 2024, the average home price in the City of Hamilton rose by 1.6% compared to the same month last year, reaching $772,705. However, on a monthly basis, it decreased by 1.9%. Over the past five years, long-term statistics indicate a roughly 45% increase in the city's average home price. Despite this growth, the December 2024 average remains 24% below the all-time high recorded in February 2022, highlighting the market's continued bearish trend.
Median Sale Price
Total Homes Sold
New Listings
Sales-to-New Listings
As of November 2024, Hamilton's housing market exhibited a balanced state, with an average home price of $817,900, marking a 1.7% year-over-year increase. etached homes averaged $892,800, up 3.5%, while townhouses reached $694,900, a 1.7% rise. Conversely, condo prices declined by 5.1% to $519,000. The market's sales-to-new-listings ratio stood at 58%, indicating equilibrium between buyers and sellers. Notably, the average home price remained approximately 22% below the February 2022 peak, reflecting the market's adjustment from previous highs.
Hamilton's real estate market has been notably competitive. In June 2023, homes sold twice as fast compared to six months prior, averaging 19 days on the market. Despite a 19% decrease in sales from the previous year, the average house price reached $831,540, indicating sustained buyer interest. The sales-to-new-listings ratio (SNLR) stood at 54% in November 2024, suggesting a balanced market. However, the average number of days on the market increased to 40.1 days from 36.5 days in the previous month, reflecting a slight shift towards more favorable conditions for buyers.
Hamilton, Ontario, presents a compelling choice for homebuyers due to its strategic location, affordable housing market, and vibrant cultural scene. Situated near major highways and public transit, the city offers convenient access to Toronto and other neighboring areas, making it ideal for commuters. Hamilton's real estate market is relatively affordable compared to larger cities, providing a range of housing options that cater to diverse budgets. Additionally, the city boasts a rich cultural heritage, with numerous museums, art galleries, and a thriving food scene, enhancing the quality of life for its residents.
Hamilton, Ontario, offers an exceptional blend of affordability, convenience, and vibrant community living. Whether you're searching for a charming family home, a modern condo, or an investment property, we're here to help every step of the way. If you have any questions or want to explore the best options available in the Hamilton market, don’t hesitate to reach out. Our team is ready to assist you in finding the perfect property that fits your lifestyle and needs. Contact us today to get started!
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