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Vital Signs: Affordable Housing

Prices of existing detached homes

Hamilton’s average house price in June 2023 was $831,540, down 3.6% from the June 2022 average of $863,016, but still substantially above the winter 2020 pre-pandemic value of $607,939. A slight decrease over the last year has been primarily due to higher lending rates and a decline in new listings. The most expensive Hamilton areas were Ancaster and Waterdown, each with average prices over $1 million. The most affordable homes were in Hamilton Centre where the average sale price was $607,583, a decrease of 2.3% from the prior year. Flamborough saw the largest year-over-year decline in house prices, dropping more than 15%, from over $1.4 million in June 2022 to $1.2 million in June 2023.

Source:  Realtor’s Association of Hamilton-Burlington, Annual Report.