MARKET INSIGHTS

MAY 2025 MARKET INSIGHT REPORT: RESIDENTIAL

Just a reminder of the parameters we use when assembling these stats:

Freehold properties only, meaning both the land and the structure on it is owned outright with no space co-owned or co-managed with owners of adjacent homes. We do review Burlington condo apartments in a separate section. Price ranges – in order to avoid outlier sales that skew the numbers too significantly, we restrict our price ranges, shown in parentheses after the city name.

Below you will find the Market Insight Report for residential properties for Burlington, Oakville, Hamilton, and Greater Hamilton. The market has continued to change this month as you will see in this report.

The market is changing, let’s talk! Contact us at any time.

If you are thinking about selling, we offer a helpful FREE Seller’s Guide to help you get the most out of your biggest investment – your home.

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Burlington

The average price for a freehold home in Burlington came in at $1,248,277 for May, down slightly from April by just over $11,000 (–0.9%). Sales volume picked up noticeably, with 155 homes sold, a 39.6% increase from April. Days on market averaged 44 days, and sellers achieved 97% of list price. Inventory continued to climb, ending the month with 411 active listings, up 22% from April. Buyers are seeing more options, but prices are holding fairly steady.

Click here to view the Burlington sales and inventory spreadsheet

Oakville

Oakville saw its average freehold price rise to $1,642,246, up roughly $35,000 (+2.2%) from April. Sales activity also increased, with 211 homes sold, a 38.8% jump over April. Homes sold quickly, averaging just 24 days on market, and sellers secured 97% of list price. Inventory rose very modestly to 879 active listings, up about 1.1% from April. Oakville continues to show resilience with steady pricing and strong buyer engagement.

Click here to view the Oakville sales and inventory spreadsheet

Hamilton

In Hamilton, the average freehold price dipped slightly to $673,154, down $9,057 (–1.3%) from April. Sales volume jumped to 280 homes sold, a 23.3% increase compared to April’s 227. Properties sold faster, averaging just 38 days on market, and sellers achieved 98% of list price. Inventory rose to 885 active listings, up 14.6% from April. The stronger sales pace suggests that well-priced properties are attracting serious buyers.

Click here to view the Hamilton sales and inventory spreadsheet

Greater Hamilton

Greater Hamilton’s average freehold price moved up to $998,545, an increase of about $12,500 (1.3%) from April. Sales climbed to 189 units, up 8.6% from April. Days on market averaged 54 days, with sellers achieving 97% of list price.

Inventory continued to build across the region. Dundas rose to 53 active listings (up 10 from April, a 23% increase), Ancaster to 168 (up 11, or 7%), Flamborough to 73 (up 8, or 12%), Waterdown to 70 (up 4, or 6%), Stoney Creek to 261 (up 34, or 15%), and Glanbrook to 102 (up 6, or 6%). The steady rise in supply is giving buyers more options heading into the summer market, and contributing to the more patient pace we’re seeing across the board.

Click here to view the Greater Hamilton sales and inventory spreadsheet

Burlington Condos

The average condo price in Burlington edged up to $703,000, up $4,000 (+0.6%) from April. Sales held steady at 30 units sold. Properties took longer to sell, averaging 87 days on market, while sellers received 95% of list price. Inventory rose to 207 active listings, up 6.7% from April. While pricing remains steady, buyer activity in this segment continues to be slower compared to last year.

Click here to view the Burlington Condo sales and inventory spreadsheet

What This All Means

May felt a bit busier than previous months. We saw a good jump in sales activity, especially in Burlington and Oakville where the number of homes sold was up quite a bit from April. That being said, this isn’t a return to the kind of bidding wars we were seeing a couple of years ago. Most of the activity is being driven by listings that are priced sharply right from the start. In Burlington, 28 sales went for 101% of asking or more, but that’s almost always happening when a home is intentionally priced under market to get attention. In most cases, those sales end up landing pretty close to where true market value is.

Interest rates have stayed steady. The Bank of Canada held the overnight rate at 2.75% in April and most expect they’ll hold again this week. Current thinking is that we may see at least two rate cuts before the end of the year if inflation continues to cool, which would be a welcome development for buyers. That said, these cuts would primarily affect variable-rate mortgages, while fixed rates likely won’t see much movement for now.

For buyers, there is more to look at and more room to negotiate than we’ve seen in quite a while. For sellers, we’re in a market where even well-priced and well-presented homes can take longer to find the right buyer simply because people are being more cautious and selective right now. It’s not unusual to see properties sitting for a bit as buyers take their time before making decisions.

As always, if you want to chat about what this means for your specific situation, I’m happy to have the conversation.

If you would like a call with us to understand this changing market and where it’s going and what to expect please don’t hesitate to request a call here, otherwise reach out and we would be happy to chat with you anytime.