Market Stabilizing as Sales Drop, Inventory Rises
February home sales in Hamilton-Burlington hit their lowest level since 2009, down 35% year-over-year. However, new listings only declined 9%, keeping in line with long-term trends. Inventory surged 28% to its highest February level since 2013, pushing months of supply to 4.5.
With more options and slower sales, prices dipped 3% to $812,600, with semi-detached and row homes seeing the largest drops. While Burlington saw the biggest sales shift, it remains to be seen if this signals a lasting trend.
The market is stabilizing, giving buyers and sellers more time to make informed decisions.
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