There were 908 homes sold across Hamilton, Burlington, Haldimand County, and Niagara North last month, according to the Cornerstone Association of Realtors®. Although this was 13% higher than April, it was still down 14% over May 2024 and 37% lower than typical levels for the month.
There were 2,319 new listings in May in the region, maintaining a sales-to-new listings ratio of 40%, driving inventory gains, and resulting in a month-over-month downward trend in home prices. The unadjusted benchmark price in the area was $783,100 in May.
Cornerstone spokesperson Nicolas von Bredow said buyers and sellers continued “to adopt a cautious stance toward the market due to ongoing economic uncertainty and instability.”
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Let’s take a closer look at what happened in the local real estate market last month:
Hamilton Market Activity
| Variable | 2025 | Difference |
|---|---|---|
| Sales Activity | 344 | 10.6% |
| New Listings | 382 | 23.2% |
| Active Listings | 1,400 | 13.5% |
| Months of Inventory | 4.1 | 2.7% |
| Average Price | $772,705 | 2.3% |
| Median Price | $720,000 | 2.1% |
| Average Days on Market | 51.3 | 30.4% |
Burlington Market Activity
| Variable | 2025 | Difference |
|---|---|---|
| Sales Activity | 126 | 23.5% |
| New Listings | 95 | 30.1% |
| Active Listings | 343 | 10.3% |
| Months of Inventory | 2.7 | -10.7% |
| Average Price | $1,040,535 | -0.9% |
| Median Price | $917,500 | -2.6% |
| Average Days on Market | 43.9 | 7.5% |
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Sales Activity
Home sales in Hamilton were up 10.6% year-over-year, with 344 sales in May. Burlington home sales were up 23.5% with 126 sales,
New Listings
There were 382 new listings in Hamilton last month, up 23.2% over May 2024. Burlington had 95 new listings, up 30.1% over last year.
Active Listings
Active listings, also known as ‘inventory’, were also up in both Hamilton and Burlington last month. There were 1,400 active listings in Hamilton, an increase of 13.5% over the previous year. Inventory in Burlington was up 10.3% year-over-year, with 343 active listings on the market.
Months of Supply
Hamilton had 4.1 months of supply in May, up 2.7% over the previous year. Months of supply in Burlington were actually down 10.7% from last year, with 2.7 months. Months of supply is often used as a measure to determine market conditions. Typically, anything above 3 months is considered to be a buyer’s market.
Average Days on Market
The average number of days on the market in Hamilton was 51.3, up 30.4% over May 2024. Burlington’s days on market were slightly lower at 43.9, up 7.5% year-over-year.
Average Prices
The average residential price in Hamilton was $772,705, up 2.3% year-over-year. The average residential price in Burlington was down by 0.9% over the previous year, landing at $1,040,535.
In the News
At the June policy meeting, the Bank of Canada held interest rates at 2.75% for the second meeting in a row. Policymakers say they are still gaining more information about the impact of Donald Trump’s trade war, and although the economy has thus far held up “stronger than expected,” rate cuts may be needed if the economy weakens.
Canada’s GDP performed better than expected in the first quarter of 2025. Statistics Canada reported 2.2% annualized growth in Q1, coming on the heels of 2.1% growth at the end of 2024. Preliminary data shows continued momentum at the start of Q2.
President Donald Trump doubled US tariffs on Canadian steel and aluminum, signing an executive order increasing tariffs to 50%. According to The White House, the move will “disproportionately hit the Canadian economy.” At the time of writing, Canada has not responded with retaliatory measures.
The benchmark home price in Toronto was up 0.1% month-over-month in May after 5 months of price declines. The Toronto Regional Real Estate Board reported an 8.4% month-over-month increase in sales and a 3.2% month-over-month increase in new listings. At the same time, the Building Industry and Land Development Association reported the seventh consecutive month of record all-time lows of new home sales in the GTA, with only 310 new homes sold in April.
A Look at What’s to Come
The spring market is well underway, though if you’ve been following the news, you’ve likely seen reports that there hasn’t been much of one at all.
Sales across the market remain low, with prices flat or trending slightly downward depending on the region. But despite that, it’s been a different story here at Michael St. Jean Realty.
In May, our sales were up 54% compared to May 2024. We also outperformed May 2023, May 2022, and came close to matching May 2021—the busiest real estate market in history. We’ve continued our long-standing trend of outperforming the market, no matter the conditions.
The negativity around the election and tariff fears is starting to wear off. We’ve seen a significant shift in consumer confidence over the past 30 days, and I expect that trend to continue. With the summer market about to begin, I see real potential for the second half of 2025 to outperform the first. Who you hire matters—choose wisely.
Are you thinking about making a real estate move in the near future? Call us at 1-844-484-SOLD or email us here for everything you need to know about buying and selling in this market.
