August 2023 Hamilton Real Estate

Here's What Happened This Month!

August 2023 Sales are down 8.9% since a year ago. New Listings are also down since last year at this time, by 3.4%. Average prices have increased slightly by 2.1% from where they were a year ago in August. The current inventory levels throughout the REALTORS® Association of Hamilton-Burlington (RAHB) market area continue to be lower than reported last year, down 3.2%. Sales have improved in the lower price ranges, however, homes priced above $800,000 are still seeing declines. Higher lending rates continue to impact sales. There was no rate increase this month, which may help stabilize the market some. These conditions have led to a more balanced real estate market at this time.

August 2023 had 1565 Total Residential Listings come through the Hamilton Real Estate Board as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Hamilton had 963 of those (down 14% from 2022) and Burlington's share was 319, down 3% from August last year. Overall New Listings have decreased by 13% since last month and have decreased by 3% over August 2022.

Residential Sales located throughout the RAHB market area (including Burlington and all the outlying areas covered by The REALTORS ® Association of Hamilton-Burlington) of 821 Properties are down 6% from August 2022 and have decreased 3% over last month, July 2023. The overall average price for residential properties decreased from last month ($907,343) to $855,091, which is still up 2% from last year at this time. Hamilton's Residential Sales (including Flamborough, Dundas, Ancaster, Waterdown, Stoney Creek, and Glanbrook) were 480 down 8.6% from August 2022, with an average price of $798,786 up 2.3% from the same month last year, however down from last month which was $847,087. Burlington had 180 Sales which is down 12% from last year, with an average price of $1,062,659 which is up 3% from August 2022, but has decreased from last month's average of $1,153,776.

The end-of-month listing inventory which is a good indication of the type of market currently being experienced, now sits at 1381 Active Residential Listings giving Hamilton 3 months of supply, which is up 6.8% over August 2022, however, dropped from last month. Burlington is slightly higher than last month and now has 361 Active Residential Listings which gives it just over 2 months of supply, down 4.7% from the same time last year. Overall, the number of Active Listings Available at the end of the month now sits at 2297 properties for sale, which is 2.9 months supply, compared to 2373 and 2.7 months of supply in August 2022, up very slightly month over month from 2287 and 2.8 months of supply in July 2023. The average days on the market is a little less than last year, however, a little higher than last month to sell a home. It went from 26 to 24 days in Hamilton year over year, and in Burlington from 25 to 23 days.

The Hamilton-Burlington Area is continuing to sit in a Balanced Market Status, where the ratio of Homes Sold to Homes Listed is between 40% and 60%, currently sitting at the 51% (5.1 homes sold for every 10 listed).  Important Note:  If you are currently looking for a property, ask your REALTOR® to show you the history of any property you are interested in. This will give you valuable information about how long the property has actually been for sale, and when/if the price was adjusted, and possibly how much it sold for previously!

Buyers Market 
Below 40%

Balanced Market
Between 40% and 60%

Sellers Market 
Above 60%

(Ratio of Homes Sold to Homes Listed)

Year-To-Date Average Prices for Hamilton

The map below shows the current Year-To-Date Average Residential Prices. When looking at the Average Prices in and around Hamilton, it is important to note how they have changed significantly over the last year and even now from month to month. If you are thinking of selling your house or condominium, get the most up-to-date. Here are a few other areas that are not listed on the map below.

Burlington - $1,102,885 - Down

Flamborough - $1,133,528 - Up

Waterdown - $1,009,805 - Down

Grimsby - $870,625 - Down

Caledonia - $776,0870 - Up

Cayuga - $781,443 - Up

Dunnville - $626,134 - Up


Take note that “Average sale price is based on the total dollar volume of all properties sold through the RAHB MLS® System. Average sale price can be useful in establishing long-term trends, but should not be used as an indicator that specific properties have increased or decreased in value.” What that means is, not every house or condo has increased in price by the same percentage. It is really important to talk to an experienced local REALTOR® to see EXACTLY what is happening in your particular neighbourhood. It is also important to find out what you can do to your house to get the highest amount possible when you are ready to sell!

In this Market, it is important that you know about the houses getting listed immediately! Click Here to get set up on the Instant Listings Notification Search, otherwise, you will only know about listings once they are reported to the public sites. If you wait till you see it on or other sites, it's too late, and is probably already SOLD!

MLS® Property Listings August 2023 

RAHB Market

Number of Sales
August 2023
Number of Sales
August 2022
Average Sale Price in August 2023Average Sale Price
August 2022

West Hamilton


East Hamilton


Central Hamilton


Hamilton Mountain










Stoney Creek




















West Lincoln