There were 701 total sales in the region (Hamilton, Burlington, Haldimand County, Niagara North) for March, the lowest level reported since 2009. Sales were down 27% last quarter compared to Q1 of 2024. New listings in the region were up, and when paired with a “pullback” in sales, it increased inventory and months of inventory well above what we typically see in March. According to Cornerstone Association of Realtors®, “Rising supply and easing demand weighed on home prices across all property types.” The unadjusted benchmark price in the region was $8110,00, down 1% month-over-month and 5% over last year.
Cornerstone spokesperson, Nicolas von Bredow, said that continued economic uncertainty due to Donald Trump’s tariffs significantly impacted the housing market at the end of Q1, however, more inventory and softening prices are giving buyers more options and time.
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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 | 444 | -29.1% |
| New Listings | 1,111 | 4.4% |
| Active Listings | 1,887 | 39.5% |
| Months of Inventory | 4.3 | 96.6% |
| Average Price | $788,968 | -4.8% |
| Median Price | $715,000 | -5.2% |
| Average Days on Market | 35.0 | 30.2% |
Burlington Market Activity
| Variable | 2025 | Difference |
|---|---|---|
| Sales Activity | 155 | -33.8% |
| New Listings | 357 | 5.9% |
| Active Listings | 513 | 35.4% |
| Months of Inventory | 3.3 | 104.3% |
| Average Price | $1,194,928 | 4.1% |
| Median Price | $1,063,301 | 5.1% |
| Average Days on Market | 26.0 | 27.3% |
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Sales Activity
There were 444 residential sales reported in Hamilton last month, down 29.1% year-over-year. Burlington had 155 sales reported, down 33.8% over the same period.
New Listings
New listings in the area were slightly up over last year. There were 1,111 new listings in Hamilton, an increase of 4.4% year-over-year. In Burlington, there were 357 new listings, up 5.9% over last year.
Active Listings
The steep decline in sales and a moderate increase in new listings resulted in a sharp increase in active listings, otherwise known as inventory. There were 1,887 active listings in Hamilton in March, up 39.5% over the previous year. Inventory in Burlington was up 35.4% with 513 active listings.
Months of Supply
Months of supply were up significantly in both markets last month. There were 4.3 months of inventory in Hamilton, up 96.6% over March 2024. Months of inventory in Burlington were 104.3% year-over-year, with 3.3 months.
Average Days on Market
The average days on market for both regions was significantly up year-over-year. Listings in Hamilton were active on average 35 days, up 30.2% over last year. Burlington had an average DOM of 26, which was up 27.3% over March 2024.
Average Prices
The average residential price in Hamilton was down 4.8% over last year, at $788,968. Burlington’s average residential price was up slightly over last year, at $1,194,928 (up 4.1%)
In the News
Earlier this month, US President Donald Trump announced his so-called “reciprocal tariffs.” Notably, Canada and Mexico were left off the list of countries that would receive an additional 10% tariff. However, previous executive orders of a 25% broad tariff and a 10% tariff on Canadian energy and potash are still in effect.
The S&P 500 Index and the Nasdaq 100 Index dropped significantly this month following Donald Trump’s latest tariffs, which targeted “crucial manufacturing countries,” including Vietnam and Indonesia.
Statistics Canada reported that the Canadian economy “came to a halt” in February. Although it was a strong start to the year, mounting trade war news caused many Canadians to pull back. The next Bank of Canada policy meeting is on April 16, where policymakers will weigh “different outcomes” to decide whether another rate cut is needed.
Last month, newly elected Liberal Leader Mark Carney requested the dissolution of Parliament and triggered a federal election. This month, parties are campaigning ahead of the election on April 28. Housing is a significant topic in all party platforms, with the Liberal Party committing to get the Canadian government “back in the business of house building” and the Conservative Party looking to implement a Canada First Reinvestment Tax Cut to defer capital gains and incentivize homebuilding.
A Look at What’s to Come
Since last month, the Bank of Canada announced a 0.25% interest rate drop. Mark Carney also won the Liberal leadership and called a federal election, now well underway.
Meanwhile, despite global tariff threats, Donald Trump declared a “liberation” day with new tariffs on the world. Thankfully, Canada and Mexico have been spared when it comes to products and services covered under the USMCA, which is good news for us.
March was a strong month for MSJ. We surpassed our goals, grew our sales year-over-year—even as the broader market declined—and navigated through tariff turbulence.
In fact, over 85% of our listings went under contract in March, our highest level since the pandemic began. If tariffs remain off the table for Canada, we should be in a solid position moving into the spring market. The Bank of Canada’s next interest rate decision is coming soon, and the outcome will likely shape market momentum as we move forward.
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.
