With lower borrowing costs and home prices declining over the past year, it’s a wonderful time for potential buyers to explore their options and find the perfect home!

 

In March, the benchmark price in the Greater Hamilton Area was $754,900, which is over four percent lower than last year. Although prices have trended down for four consecutive months, the increased number of new listings is creating a favourable environment for buyers. The sales-to-new listings ratio is at 40%, contributing to a healthy four-month supply of homes.

 

While these trends are clear overall, there’s notable variation from neighbourhood to neighbourhood—some homes sell quickly, while others linger. Buyers are often wary of fixer-uppers unless the price is right, and newly built homes need to meet all criteria to attract offers. Overall, buyers are currently in a strong position. If you're curious about what a buyer might pay for your home, feel free to reach out for a neighbourhood report!

 

Warm regards, Stella.