The state of Hamilton housing is, in a word, ‘strong’. Prices have moved sharply higher since 2014, and so have overall sales, which are currently hovering around 15,500 to 16,200 units per year –– a Hamilton record. However, the Canada Mortgage and Housing Corporation (CMHC) says Hamilton housing is still relatively affordable due to low mortgage rates and the high average incomes of Hamilton homebuyers.
Real estate prices in Hamilton have appreciated more quickly than any other housing market in Canada — yet the average house in Hamilton costs about 45% less than the average house in Toronto. That’s probably why market watchers say Hamilton housing is still a bargain.
The average existing home price in Hamilton is now right around $515,000.