hamilton real estate analysis

Delta Neighbourhood
Market Report

What’s happening in the Delta Neighbourhood housing marketing this spring. 

April - July 2024

15
Houses Sold
620000
Avg Sale Price
16
Days on Market

Scroll for a full report on this highly desirable East Hamilton neighbourhood.

January 1 to May 3, 2023

Delta Market Watch

Below is a breakdown of home sales in Delta East and West during the time period of April – July 2024. Sold includes closed and pending properties.

1.5-2.5 Storey Detached# SoldAvg PriceLow PriceHigh PriceDays on Market
2 Bedroom2$622,500$620,000$625,00028
3 Bedroom14$720,607$580,000$930,00018
4 Bedroom7$675,285$435,000$795,00012
5 Bedroom1$845,000$845,000$845,0001
6 Bedroom1$617,314$617,314$617,3144
TOTAL25$705252    21

Hamilton Market Trends:

april 2023

Sales in June:

  • Declined compared to previous month and same period last year.
  • Recorded 835 sales, below long-term averages.
  • Consistent with lower figures observed in recent years.
  • Decline evident across all property types and regions.

 

Factors impacting housing market:

  • Higher interest rates and rising cost of living.
  • Mortgage rates still high despite recent rate reduction by Bank of Canada.
  • Potential buyers waiting for further rate cuts or market conditions shift.

 

New listings and inventory:

  • New listings in June: 2,048 units, higher than last year.
  • Contributed to further inventory gains.
  • Inventory levels in June up 54% compared to last year.
  • Inventory levels rose across all price ranges.

 

Market indicators

  • Months of supply rose to nearly four months due to higher inventory relative to sales.
  • Pressure off home prices due to increased supply.
  • Unadjusted benchmark price in June: $849,900, year-over-year decline of over two percent.
  • Year-to-date average benchmark price relatively flat compared to last year.

April 2023 Statistics - Hamilton

400
Home Sold

25% less than last year same time

1000
New Listings

7% more than last year same time

1500
Inventory Levels

55% higher than last year same time

0
Months of Supply

107% higher than last year same time

10
Average Days on the Market

28% higher than last year same time

700000
Average Price on Market

0.4% higher than last year same time

Meet Andi Pojani

Andi’s passion for people is at the core of his approach to real estate. With fifteen years of sales experience in the hospitality industry, he has spent years perfecting the art of service and demonstrating true care in every interaction. His exceptional interpersonal skills and attention to detail put him ahead in any client relationship or negotiation.

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