Hamilton Housing Market Report
- In April 2025, Hamilton's average home price decreased by 3.3% year-over-year, with the average sold price now at $791,384 for April 2025.
- The benchmark price for a home in the Hamilton-Burlington region was $803,700 in April 2025, a decrease of 6.4% compared to April 2024 and a 0.9% decrease from last month.
- Detached home average price decreased by 3.6% year-over-year to $881k.
- Townhouse average price decreased by 5.6% year-over-year to $683k.
- Condo apartment average price decreased by 2.1% year-over-year to $454k.
- June 10, 2025 Update: Today’s Lowest mortgage rates in Hamilton is 3.94% for 5-Year Fixed.
Hamilton Housing Market Overview
Hamilton Housing Market: Price Movements for April 2025
Benchmark* Home Price | $803,700 | -0.9% 1-Month Change | -6.4% 1-Year Change |
Average Home Price | $791,384 | +0.3% 1-Month Change | -3.3% 1-Year Change |
Median Home Price | $720,000 | +0.7% 1-Month Change | -4% 1-Year Change |
*The benchmark price is for the entire Hamilton-Burlington region, including Hamilton, Burlington, Haldimand County and Niagara North.
In April 2025, Hamilton’s housing market saw a year-over-year decline in home prices as well as sales. In fact, the sales were well below the average observed for the month of April. This trend echoes that observed in Greater Toronto’s housing market, which witnessed active listings surge to their highest levels in nearly three decades. Meanwhile, inventory levels have grown significantly over the past year. Increased inventory and reduced sales have decreased the competition in the market, thereby offering greater choice and more time for the buyers who are currently in the market.
Home Prices
In April 2025, the City of Hamilton’s average home price decreased by 3.3% from April last year to $791,384. The average home price grew by 0.3% monthly. According to long-term statistics, the city's average home price has risen by roughly 42% over the past five years.
Meanwhile, the average price for April 2025 is still 22% lower than the all-time peak observed in February 2022, suggesting that the market is in a bear market. In fact, Hamilton's housing market has largely been in a bear market over the past three years, with prices remaining more than 20% below their peak for 25 out of the last 38 months.
The average home price for the Hamilton-Burlington region in April 2025 was $861,196, a 1.7% decrease from the previous month and a 4.3% decrease year over year. Meanwhile, the benchmark home price in Hamilton-Burlington was also $803,700, decreasing by 0.9% monthly and 6.4% annually.
Sales
In April 2025, 511 homes were sold in Hamilton, an increase of 15.1% from last month and a significant decrease of 16.4% from April 2024.
Looking at the entire Hamilton-Burlington region, 805 homes were sold in April 2025, a 14.8% increase from March 2025, and a 25.9% year-over-year decline.
The year-over-year decline in sales, despite interest rates dropping, is likely a result of the uncertainty surrounding the U.S. trade tariffs, which are prompting buyers to take a cautious approach in making major financial decisions such as buying a home.
New Listings and Inventory
There were 1,287 new listings in the city of Hamilton’s housing market in April 2025, a 15.8% monthly increment. The new listings were 1.7% higher than the new listings in April last year. Meanwhile, looking at the entire Hamilton-Burlington area, there were a total of 2,043 new listings in April 2025, 3.1% lower than last April.
Hamilton’s real estate market had an inventory of 2,126 homes at the end of April 2025, 36.5% higher than last year. Meanwhile, the market had 4.2 months of supply available at the end of April. The average number of days on the market for a home in Hamilton was 33.8 days.
Hamilton City’s sales-to-new-listings ratio (SNLR) for the month was 39.7%, remaining almost unchanged from last month. An SNLR below 40% indicates a buyer’s market, and an SNLR above 60% generally suggests that it is a seller’s market. Meanwhile, an SNLR between 40% and 60% typically indicates balanced market conditions, meaning the market favours neither the sellers nor the buyers. The SNLR for the entire Hamilton-Burlington area was also similar at 39.4%.
Property Types
Breaking down Hamilton City’s real estate market into property types, 337 detached homes were sold, along with 17 semi-detached homes, 109 townhouses, and 47 condo apartments.
- Detached homes had a benchmark price of $825,800 in April 2025, declining by 3% year-over-year.
- The benchmark price of semi-detached homes was $732,600, decreasing by 3% year-over-year.
- The benchmark price of townhouses was $624,000, decreasing by 5% year-over-year.
- Condo apartments had a benchmark price of $431,400, a 7% decrease year-over-year.
Regional Comparison
The most expensive housing market in the Hamilton-Burlington region, Burlington, had an average home price of $1,178,724 in April 2025, 2.4% higher than April last year. The 152 sales in the month represent an annual decrease of 46.1%.
In Haldimand County, the average sale price of $694,144 marks a 5% decrease year over year. The 68 sales in Haldimand County represent a 2.9% decrease year over year. The average price in Niagara North has increased by 1.9% yearly to $844,563. The sales in Niagara North decreased by 20.4% year over year to 74 sales. Being smaller market areas, Haldimand County and Niagara North experience greater fluctuations in sales and average prices on a monthly basis.
Reasoning
During the pandemic, Hamilton’s housing market witnessed unprecedented gains, and the average home price crossed the $1M mark. However, the mortgage rates increased significantly in the latter half of 2022 after the Bank of Canada hiked its policy rate to control inflation. As a result, many homebuyers withdrew from the market, bringing a significant slowdown in sales and, consequently, a major drop in home prices. Home prices continue to trend nearly 20-25% lower than the peak of February 2022.
Recently, the U.S. imposed tariffs on certain Canadian products, prompting Canada to respond with tariffs on select U.S. goods. These tariffs will not only increase the prices of some everyday consumer items but may also indirectly influence overall consumer spending. Over the long term, they could lead to job losses and broader economic repercussions. During such uncertain times, many potential homebuyers may adopt a cautious stance, opting to wait for a clearer macroeconomic outlook before making a purchase decision. Meanwhile, some buyers anticipate a further drop in mortgage rates and are thus taking a wait-and-see approach.
However, it is noteworthy that Hamilton’s housing market has remained a relatively affordable alternative to other markets in Ontario, such as the Toronto housing market, Mississauga housing market, and Brampton housing market, within close proximity of Toronto.
Looking Forward
In accordance with market expectations, the BoC delivered seven back-to-back policy rate cuts, reducing the policy rate by 2.25% since June 2024. The BoC rate now stands at 2.75%. Interest rate forecasts predict that the BoC may deliver more rate cuts in the coming months.
Meanwhile, factors such as the U.S. tariffs are likely to pressure the BoC to cut its policy rate to support the economy. On the contrary, the tariffs will also likely put inflationary pressures on the economy, prompting the BoC to delay the rate cuts. Thus, macroeconomics and trade policies will be key in determining where the BoC policy rates are headed in the future.
Home Prices in Hamilton
Hamilton Housing Market Statistics for All Property Types in April 2025
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Market Overview for Detached Homes in April 2025
Average Sold Price
New Listings
Market Overview for Semi-Detached in April 2025
Average Sold Price
New Listings
Market Overview for Townhouse in April 2025
Average Sold Price
New Listings
Market Overview for Condo Apartments in April 2025
Average Sold Price
New Listings
Hamilton-Burlington Breakdown by Region for April 2025
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.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owner of the buildings has leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the 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.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
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- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.