The Cornerstone Association of Realtors® reported 773 home sales in Hamilton, Burlington, Haldimand County, and Niagara North in September, which marks the third month in a row of year-over-year improved sales numbers. However, the long-term trends are still about 27% lower than normal, and down about 10% year-to-date in 2025 compared to 2024.
Cornerstone spokesperson, Nicolas von Bredow, said September was a positive shift for the local market. An increase in new listings and inventory is good for buyers. It is, however, resulting in price drops in some areas. Von Bredow said, “Many communities and neighbourhoods are performing better than the overall average,” highlighting the importance of working with a local Realtor® who understands the market.
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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 | 475 | 7.2% |
| New Listings | 1,392 | 2.2% |
| Active Listings | 2,487 | 13.7% |
| Months of Inventory | 5.2 | 6.1% |
| Average Price | $775,745 | -4.8% |
| Median Price | $700,000 | -4.1% |
| Average Days on Market | 40.0 | 7.6% |
Burlington Market Activity
| Variable | 2025 | Difference |
|---|---|---|
| Sales Activity | 165 | 5.1% |
| New Listings | 462 | 7.2% |
| Active Listings | 709 | 11.5% |
| Months of Inventory | 4.3 | 6.1% |
| Average Price | $1,056,475 | -7.6% |
| Median Price | $977,000 | -0.3% |
| Average Days on Market | 35.7 | 2.1% |
The real estate market is always changing. Before buying or selling, make sure you’re up-to-date on the latest insights. Read our past market report blogs right here.
Sales Activity
Home sales in Hamilton were up 7.2% year-over-year in September, with 475 residential sales reported through the MLS®. Sales in Burlington were up 5.1%. There were 165 sales reported in September.
New Listings
There were 1,392 new listings in Hamilton last month, up 2.2% over September 2025. Burlington had 462 new listings, which is up 7.2% year-over-year.
Active Listings
Active listings, sometimes called “Inventory,” were up 13.7% year-over-year in Hamilton in September. Inventory in Burlington was up 11.5% in September, with 709 active listings.
Months of Supply
Despite an increase in sales, the months of inventory in both Hamilton and Burlington were elevated this month. Hamilton had 5.2 months, which is up 6.1% year-over-year. Burlington had 4.3 months, which is also up 6.1%.
Average Days on Market
Homes in Hamilton were on the market 7.6% longer in September, with an average of 40 days. The average days on market in Burlington was up 2.1%, with 35.7 days.
Average Prices
An increase in inventory resulted in slight price softening in average prices in the region. The average price in Hamilton was $775,745, which was down 4.8% year-over-year. The average price in Burlington was $1,056,475, which was down 7.6% in September over last year.
In the News
US President Donald Trump recently announced a new 10% tariff on lumber and a 25% tariff on upholstered wood products like cabinets and vanities. Most of the tariffs will take effect in October, while others will begin in January. These tariffs will likely impact Canada, as the largest wood supplier to the US.
Canada’s consumer price index rose 1.9% year-over-year, slightly up from July’s 1.7% increase, according to the latest inflation report from Statistics Canada. The increase was primarily due to gas prices. Statistics Canada reported that price pressures “are still elevated, but they aren’t worsening.”
A Bloomberg survey of economists predicts weak economic recovery in th second half of 2025, “as exports stage a gradual rebound from tariff damage.” The economists surveyed predict exports in Canada will rise 3.3%, after “collapsing” 27% in the third quarter of 2025. Despite the forecast predicting Canada will not enter a recession, experts say the economy will “struggle to regain momentum for a long time.”
Canada’s budget deficit is on track to hit $70 billion this fiscal year, according to economists. That’s significantly higher than the $42 billion deficit forecasted in December of last year and more than 2% of Canada’s GDP. Last week, Prime Minister Mark Carney confirmed plans to “run a substantial deficit” this year as the country deals with “the shock of the ongoing trade war with the US.” The Prime Minister says there will be implications for the deficit, but “it’ll build a much stronger Canada moving forward.”
The Prime Minister recently announced a new government agency called “Build Canada Homes” with the intent to build affordable housing and increase construction. The agency will have a $13 billion budget to “support builders of affordable housing.” The government is also seeking to construct 4,000 factory-built homes on federally-owned land.
Royal LePage recently surveyed Canadian real estate agents working with first-time home buyers. The survey found that 15% of first-time buyers are “working toward purchasing in the next two years” Of that group, 80% are planning to buy in 1-2 years while only 20% are planning to buy sometime in the next 12 months. Despite conditions improving, many buyers are “waiting for the perfect timing.”
A new report from the University of Ottawa found that Toronto is falling “well short” of its housing targets along with 22 of the 34 other municipalities in the Greater Golden Horseshoe. Housing starts were down 40% across the municipalities and down 58% in Toronto.
The new Confederation train station on Centennial Parkway will begin offering service to Stoney Creek on October 27. Metrolinx says the service will include 13 weekday trips and 15 weekend trips between Hamilton, Niagara, and Toronto. Premier Doug Ford said this latest station opening is “the next step in our plan to get Hamilton even more connected to fast, reliable, and affordable transit.”
A Look at What’s to Come
September flew by in a flash. We had great weather, the kids went back to school, summer holidays came to an end, and the fall market is now officially in full swing.
Sales continued to improve in September, continuing the steady upward trend we’ve seen since the end of the school term. Prices remain soft year-over-year compared to last September, but activity has clearly picked up.
As expected, the Bank of Canada cut interest rates by 0.25% for the first time in a while. With new jobs data and another inflation report coming before the next rate decision at the end of the month, there’s a good chance we could see another 0.25% cut if the numbers come in as expected. I anticipate at least one more cut before the end of the year.
Canada is still without a trade deal with the United States, but the Prime Minister is scheduled to visit Washington this week, and hopefully some positive news will come from that.
Coming off our best August in history, our team had another strong month in September, with sales surpassing both 2024 and 2023 levels. October is typically the busiest month of the fall, and we expect activity to remain high aside from a few slower days around Thanksgiving.
Who you hire matters. Our team continues to outperform the market and the competition. Now more than ever, you need an agent with the knowledge, experience, and resources to guide you through today’s market. If you’re thinking about buying, selling, or simply have a real estate question, contact us.
Give us a call at 1-844-484-SOLD or email us here.
