March 3, 2023 | Market Reports

Local Housing Market Stats For February 2023

For the second straight month we’ve seen month over month price appreciation in the Halton and Hamilton regions. Pricing is still down year over year as we cycle over peak pricing in February of 2022. However, we continue to see low inventory and the market is adjusting to new interest rates. Homes that are priced accurately are selling.

Below are the highlights of our local real estate markets:

Burlington

In February, Burlington saw a decrease of 23.4% from February 2022 with an average sale price of $1.06 million. Homes in Burlington are staying on the market for an average of 25 days.

Oakville

The average sale price of homes in Oakville for February 2023 was $1.7 million which is a 10.2% price decrease from February 2022. These properties in Oakville are staying on the market for an average of 24 days before selling

Hamilton

Hamilton’s housing market saw a 21.8% decrease compared to February 2022 with an average sale price of $798,871. These homes are staying on the market for about 31 days.

Here’s a breakdown of the freehold and condo statistics for Burlington, Oakville and Hamilton in February 2023: