Niagara's real estate market is experiencing a steady trend with no change in new listings. However, year-to-date unit sales have decreased by 12%, reflecting a cautious market sentiment. The average sale price has also seen an 11% decline YTD, indicating a buyer's market. With 4.3 months of inventory, there's a balanced supply and demand, offering potential buyers ample choices. These metrics suggest a market in transition, with affordability and inventory levels influencing current dynamics.
Hamilton's real estate market, though seeing a minor 2% dip in new listings, is characterized by resilience and potential. Despite a 20% year-to-date decrease in unit sales, the market offers favourable conditions for buyers with an 8% drop YTD in average sale prices, making homeownership more accessible. With a tight 2.8 months of inventory, the city presents a balanced landscape, encouraging a positive outlook for those navigating the market, with ample opportunities to find value in a slightly adjusted real estate environment.
Review current market conditions below and speak with your Royal Lepage NRC REALTOR® for continued advice.