Hamilton currently leans toward sellers, with the market gauge showing a seller’s market. Months of supply sit at 2.8, which is still below a balanced level even after rising more than 30 percent year over year. Homes are taking a median of 42 days to sell in this rolling three-month view, slightly longer than a year ago.
Home values and prices have generally trended upward over the past year. The typical home value is just under $230,000, up modestly from last September, while the median list price has inched down slightly year over year. Inventory has expanded, with active listings up about 6 percent compared with a year earlier, giving buyers more options than they had last fall. Even with that added supply, roughly 30 percent of homes still sell above their list price, and the average sale-to-list ratio is close to 99 percent, signaling that sellers are usually getting very near their asking price.
Momentum in new listings and contracts shows a mixed picture. New listings are down about 9 percent from a year ago and pending sales are only slightly higher, suggesting some homeowners may be slower to put properties on the market even as demand holds. At the same time, nearly half of homes go off the market within two weeks, highlighting that well-priced and well-presented properties still move quickly. Buyers and sellers who want to navigate these conditions can turn to Agent Pronto to connect with an agent who understands the Hamilton market.
