Hamilton Housing Market Sees Quietest June in Over a Decade

Strategic Insights -

The Hamilton housing market just experienced its quietest June for sales in more than a decade, with just 503 homes sold in the city. This marked a nearly six per cent drop from June 2024 and the lowest June sales numbers for Hamilton since 2010. The local market has seen a historically sluggish start to the year, with home sales down roughly 15 per cent compared to the same six-month period in 2024.

Key Takeaways:

  • The Cornerstone Association of Realtors reported that just 503 homes sold in Hamilton in June, marking a nearly six per cent drop from June 2024 and the lowest June sales numbers for Hamilton since 2010.
  • Home sales in Hamilton are down roughly 15 per cent compared to the same six-month period in 2024.
  • Home sales are sitting roughly 35 per cent below their usual levels, according to the report.
  • The city's inventory levels rose to 2,499 properties, up nearly 28 per cent compared to June 2024, resulting in five months' worth of supply.
  • The average home in Hamilton sold for $821,716 in June, representing a slight decrease of less than one per cent from the same time last year.
  • Detached homes were the most popular property type for buyers in June, with 360 sold.
  • Flamborough was the most expensive area of the city to buy in June, with the average property selling for roughly $1.4 million.
  • Hamilton Centre was the least pricey spot to purchase a home in June, with an average sale price of $501,270.

Statistics:

  • 503 homes sold in Hamilton in June, a nearly six per cent drop from June 2024.
  • Home sales are down roughly 15 per cent compared to the same six-month period in 2024.
  • Home sales are sitting roughly 35 per cent below their usual levels, according to the report.
  • Inventory levels rose to 2,499 properties, up nearly 28 per cent compared to June 2024.
  • The city's inventory levels are up by more than 57 per cent compared to June 2024.
  • The average home in Hamilton sold for $821,716 in June.
  • Detached homes accounted for 360 sales in June.
  • Flamborough saw an average sale price of roughly $1.4 million in June.

Sources:

  • Cornerstone Association of Realtors
  • The Hamilton Spectator