Hamilton, Ontario is having a major moment – one that’s lasted for the better half of the past decade. And there’s currently no end in sight.
With Toronto’s sky-high real estate prices reaching record highs in recent years (and months), the Hamilton housing market has become a popular option for urbanites seeking both more space and the ability to stretch their precious dollars further.
Recent figures reveal that the once predominantly industrial city of Hamilton is indeed alluring as ever – especially for Toronto dwellers. Consistent with most of the Canadian housing market, the Hamilton-Burlington housing market resurged with a vengeance once the warmer weather rolled in this year. Both regions are experiencing a strong sellers’ market, with 80% of available inventory selling out each month.
For anyone who’s eyed Hamilton’s real estate market for some time, this comes as no surprise. Pre-COVID, the recently revamped city’s housing market was red-hot, after experiencing a 10.1% increase in sales, or 12,866 transactions in 2019. At the end of February 2020, the Realtors Association of Hamilton and Burlington (RAHB) reported a 25.5 % spike in the number of sales year-over-year, while the average house price reached $646,667 – an increase of 15.5 % compared to February 2019.
by
