Let's talk about the Hamilton-Burlington real estate market!

Looks like May saw some interesting shifts. With 908 units sold across Hamilton, Burlington, Haldimand County, and Niagara North, sales were up nearly 13% from April, which is a good sign! However, they're still down 14% from last May and a fair bit lower than what we usually see this time of year.

Both buyers and sellers are being a bit cautious right now due to economic uncertainty. But, with fewer sales and more homes hitting the market (2,319 new listings in May!), we're seeing an increase in supply. This means more choices for buyers!

This increased supply and softer demand are putting some pressure on prices. The unadjusted benchmark price in May was $783,100, and prices actually trended downwards last month across the region, especially in Burlington. We haven't seen 4.1 months of supply in May since 1998, which really highlights the current market conditions.

So, if you're looking to buy, there might be some opportunities out there with more inventory and price adjustments!