Hamilton Housing Market Report

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Market Report Summary
Updated May 5th, 2021
  • Average home prices in Hamilton cooled off this April after breaking new records in March
  • Average sold prices increased by 42% year-over-year to $786K
  • Detached home prices increased by 43% year-over-year to $857K
  • Semi-detached/townhouse prices increased by 35% year-over-year to $679K
  • Condo apartment prices increased by 28% year-over-year to $466K

Hamilton Housing Market Overview

Data for April 2021
Avg. Sold Price:$786,737
All Property Types:$786,737
Detached:$857,201
Semi-Detached/Townhouse:$679,626
Condo Apartment:$466,264

Notice: Year-over-year comparisons for April will be exaggerated by the temporary downturn from the outbreak of COVID-19 in March 2020.

April brought an end to the constant month-over-month rise of home prices in Hamilton's housing market. After breaking new records in March, home prices dipped slightly downwards for April with average sold prices reaching $786K from $804K in March. Transaction volume also dropped down to 1,195 home sold from 1,302 in March. This seasonal decline was expected and all signs point to continued strength in Hamilton's housing market.

From a year-over-year perspective, home prices in Hamilton have done incredibly well. Average sold prices for all property types was up by 42% compared to April 2020. Detached homes fueled most of the appreciation with their average price increase of 43% year-over-year to $857K. Prices of semi-detached and condo apartments followed closely behind with a 35% and 28% year-over-year rise to $679,626 and $466,264, respectively.

Home prices in Hamilton still remain relatively affordable with average sold prices in Hamilton City Centre only at $576K. Hamilton East is slightly more expensive at an average sold price of $617K. In contrast,average sold prices of homes in Toronto are beyond $1M in most regions. This difference is likely to remain as Toronto benefits from an expanded CMHC First-Time Home Buyer program and a growing tech sector.


Home Prices in Hamilton

Single-Family Detached Home Prices in Hamilton

Statistics for April 2021
Average Price: $857,20142.8% from Apr. 2020
New Listings: 1,030171.8% from Apr. 2020

Semi-Detached Home Prices in Hamilton

Statistics for April 2021
Average Price: $679,62634.8% from Apr. 2020
New Listings: 312145.7% from Apr. 2020

Apartment Prices in Hamilton

Statistics for April 2021
Average Price: $466,26428.1% from Apr. 2020
New Listings: 121112.3% from Apr. 2020

Hamilton Housing Market Statistics for All Property Types in April 2021

$786,737
Avg. Sold Price
-2%
Monthly change
9%
Quarterly change
42%
Annual change
1,195
Transactions (Buy/Sell)
-8%
Monthly change
146%
Quarterly change
250%
Annual change

Average Sold Price and MLS HPI Benchmark Price

Total Transactions

Top Real Estate Agents in

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Housing Markets Across Canada

Interactive Map - Hover Over Province for Details
ONQCMBSKABBCToronto Housing MarketVancouver Housing MarketHamilton Housing MarketMontreal Housing MarketOttawa Housing MarketEdmonton Housing MarketCalgary Housing Market
$254k to $369k
$369k to $485k
$485k to $600k
$600k to $715k
$715k to $831k
$831k to $946k

Market Overview for Detached Homes in April 2021

$857,201
Average Sold Price
-2%
Monthly change
7%
Quarterly change
43%
Annual change
1,030
New Listings
4%
Monthly change
193%
Quarterly change
172%
Annual change

Average Sold Price

New Listings

Market Overview for Semi-Detached/Townhouses/Row in April 2021

$679,626
Average Sold Price
-2%
Monthly change
12%
Quarterly change
35%
Annual change
312
New Listings
-2%
Monthly change
197%
Quarterly change
146%
Annual change

Average Sold Price

New Listings


Market Overview for Condo Apartments in April 2021

$466,264
Average Sold Price
0.73%
Monthly change
13%
Quarterly change
28%
Annual change
121
New Listings
-8%
Monthly change
64%
Quarterly change
112%
Annual change

Average Sold Price

New Listings

Top 1% Listing Agents in

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Hamilton-Burlington Breakdown by Region for April 2021

City
Avg. Sold Price
Home Sales
#1Hamilton West$646,47989
#2Hamilton East$617,353137
#3Hamilton Centre$576,951177
#4Hamilton Mountain$736,847264
#5Flamborough$1,244,67434
#6Dundas$981,57756
#7Ancaster$1,082,649106
#8Waterdown$984,65163
#9Stoney Creek$834,643184
#10Glanbrook$864,28176
#11Burlington$1,057,973404
#12Dunnville$611,24427
#13Cayuga$696,5297
#14Caledonia$793,55520
#15Hagersville$616,95812
#16Oneida$750,0001
#17Seneca$892,5002
#18Rainham$672,5005
#19Grimsby$890,87176
#20Smithville$801,44219
#21West Lincoln$1,364,3405

Glossary and Definitions

MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.

MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.

Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:

  • Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
  • Liability for any property damage or bodily injury suffered on strata property
  • Any fixtures that are part of the "standard unit" or original construction of each unit

Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.

Property types

Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.

Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.

Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.

Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.

Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.

Property Classes

Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.

Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.

Housing Markets Across Canada

Data sourced from the REALTORS® Association of Hamilton-Burlington (RAHB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.