Hamilton's Top Agents

Brenda M.
Davenport Realty
20 Years of Experience
Brenda Mckinley's Transactions
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Andrew I.
Corona Realty Inc.
31 Years of Experience
Andrew Ielasi's Transactions
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Alex P.
Keller Williams Edge Realty Brokerage
15 Years of Experience
Alex Petroff's Transactions
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Neesh B.
Remax Aboutowne Realty Corp., Brokerage
12 Years of Experience
Neesh Buttoo's Transactions
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Robert P.
eXp Realty, Brokerage
20 Years of Experience
Robert Preece's Transactions
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Bill S.
starstarstarstarstar(75)
iPro Realty
13 Years of Experience
Bill Saini's Transactions
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Hussein A.
Re/max Realty Services Inc
11 Years of Experience
Hussein Al Awadi's Transactions
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Jag G.
starstarstarstarstar(26)
RE/MAX Paramount Realty
11 Years of Experience
Jag Gill's Transactions
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Sunny G.
starstarstarstarstar(63)
Re/Max Realty Services Inc.
7 Years of Experience
Sunny Gawri's Transactions
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Hamid A.
RE/MAX REALTY SERVICES INC., BROKERAGE
19 Years of Experience
Hamid Ayoubi's Transactions
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Angie T.
ReMax Aboutowne Realty Corp
28 Years of Experience
Angie Tsopelas (Mckinnon)'s Transactions
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Larissa S.
starstarstarstarstar(30)
Royal LePage Real Estate Services Ltd. Brokerage
13 Years of Experience
Larissa Sarakaeva's Transactions
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Hamilton Real Estate News

Hamilton's housing market continued to climb in January 2021 despite slower sales activity. Average sold prices for all property types throughout the region reached $722,628, a 29% increase from January 2020. The biggest growth was seen in detached and semi-detached/townhouses with average sold prices of $798,431 and $607,516 - an increase of 32% and 20% yoy respectively. Condo apartments have lagged behind with only a 9% increase yoy to $413,664. Despite the growth, these prices remain significantly lower than those found in the rest of the Greater Toronto Area, where the average home price is just shy of $1 million.

Hamilton Housing Market Overview

Data for January 2021
Avg. Sold Price:$722,628
All Property Types:$722,628
Detached:$798,431
Semi-Detached/Townhouse:$607,516
Condo Apartment:$413,664

Transaction volume continued their recent trend downwards as lower inventory and further COVID-19 lockdowns hampered sales activity. Sales activity were down 9.6% compared to last year. New listings and inventory for all detached and semi-detached/townhouse property types remained lower as well with only listings for condo apartments remaining above Jan. 2020 levels. The low inventory combined with strong promises of stimulus from the Liberal government, including a revamped First-Time Home Buyer program and direct handout programs, promises of a continued low-interest environment by the Bank of Canada, and record low mortgage rates, there remains significant tailwinds for Hamilton's housing market. However, further growth may remain elusive until Spring 2021 as seasonal shifts and COVID-19 lockdowns dampen real estate demand.

Home prices in Hamilton, despite their growth, are still much lower than those in other markets in Canada. For comparison, the average sold price in the Greater Toronto Area for all property types in January 2021 was $967,885. Benchmark home prices in Vancouver are even higher at over $1M. Similar to Hamilton, Ottawa has average sold prices at below $600K and is also experiencing a rapid real estate boom with average sold prices up 26% yoy. The relatively lower prices in Hamilton and Ottawa are bringing buyers across Canada who are looking to maximize their home budgets.

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