Homes in Hamilton and Burlington more than $100k over Canadian average
Published November 8, 2023 at 5:27 pm
While home prices have dropped a bit month-over-month across Canada, some markets still post home prices significantly higher than the Canadian average–including the Hamilton-Burlington region.
According to a recent report from real estate website and brokerage Zoocasa, data from the Canadian Real Estate Association indicates that the average national price of a family home in the country has been declining for four months.
The average price now sits at $815,300, which is below the prices typically observed in the GTA and Vancouver area.
Buyers in Hamilton-Burlington (Zoocasa combines the data for the two cities) are paying about $918,000 for a single-family home–over $100,000 more than the average.
According to the report, prices are up 2.7 per cent year-over-year. As far as sales go, the report says 651 homes changed hands in the region in September, a decline of 13 per cent from last year.
As for regions that are more expensive than Hamilton-Burlington, the report says buyers will pay more for a single-family home in the Greater Vancouver area ($2,018,200), the Greater Toronto Area ($1,345,400), Fraser Valley ($1,520,500) and Victoria, B.C. ($1,169,400).
Of the 20 regions Zoocasa analyzed, 13 have an average single-family home price below $716,600. The most affordable cities on the list include Saint John ($298,600), Sudbury ($449,400) and Calgary ($633,300).inthehammer's Editorial Standards and Policies advertising