2023 Year in Review Statistics & Property Values Report
Lending Rates in 2023 remained high and reached levels not seen in 20 years. There were 7 Bank of Canada rate hikes in 2022 and another 3 in 2023, going from .25% in Feb 2022 to where it sits now at 5%. As a result of these higher interest rates, Residential Sales declined throughout the REALTORS ® Association of Hamilton-Burlington (RAHB) Area for the 2nd year in a row. The only price range that saw sales improve were those under $600,000, which only accounts for 20% of the supply. Inventory levels increased over the latter half of the year and that caused the sales to new listings ratio to fall, giving us over 4 months of supply and keeping us in a Balanced Market. The List-To-Sell Ratio remained the same as last year, sitting at 54%.
Overall Average Sales Prices declined by 10% year over year and have pretty much erased the gains in 2022, bringing prices back to 2021 levels which remain well above pre-pandemic prices. The REALTORS® Association of Hamilton-Burlington (RAHB) Areas can be broken into 4 distinct sub-divisions to give an overall view of the average prices. Hamilton now sits at $796,872, Burlington is at $1,094, 704, Haldimand is at $706,653 and Niagara North is at $820,595. The entire RAHB area has an average price of $862,180 for 2023 compared to $955,429 for 2022. Sales dropped by 10% year over year as did New Listings. It is taking longer to sell homes in this type of Market. In Hamilton, we went from 17 days to 25 days year over year. In Burlington, it went from 16 to 22, in Haldimand from 23 to 38 and in Niagara North from 21 to 32 days. The year-to-date average prices for specific types of properties are $972,309 for detached, $764,888 for Semi-detached, $749,115 for Row (townhomes), and $568,576 for Apartments. Within Hamilton, there are only 4 neighbourhoods where the average price is under $600,000 for a detached home, all in the North and East parts of the city. The Hamilton Mountain neighbourhoods range from a low of $677,118 to $914,873 for a detached home.
See below for Average Selling Prices of Districts and Neighbourhoods in and around Hamilton Ontario, comparing average sales from 2023 to 5 (2018) and 10 (2013) years ago. Below these charts is the Month of December 2023 Statistics Report.
VS
Average Selling Prices Compared to 2018 and 2013
Here is an overview of the 2023 Average Selling Prices for Residential Properties in and around Hamilton Ontario Canada, compared to 5 years ago (2018) and 10 years ago (2013). It is broken down into the different districts and areas in and around Hamilton Ontario.
West Hamilton
Neighbourhood Features - McMaster University, Westdale Village (Weils Bakery, Westdale Theatre), Locke Street Shops, Hess Street, West Harbour Go Station, Bayfront Park, Royal Botanical Gardens, Dundurn Castle, Farmers Market, and quick access to Highway 403.
2023 West Hamilton Overview
-
$706,376 - Average Selling Price
-
525 - Total # of Sales
-
999 - Total # of New Listings
-
30 - Average Days on the Market
Compared to Previous Years…
-
$764,924 in 2022 (1 year ago)
-
$479,271 in 2018 (5 years ago)
-
$311,055 in 2013 (10 years ago)
|
District |
Nighbourhoods |
Average Prices in 2013
|
Average Prices in 2018
|
Average Prices in 2023
|
|---|---|---|---|---|
|
10
|
Bayfront, Strathcona, Central
|
$253,349
|
$414,706
|
$585,902
|
|
11
|
Westdale, Ainslie Wood
|
$332,198
|
$506,194
|
$754,963
|
|
12
|
Durand, Kirkendall
|
$347,618
|
$510,712
|
$747,583
|
Central Hamilton
Neighbourhood Features - Known as Downtown Hamilton, and home to Gore Park, Gage Park, Ottawa Street Shops, Go Bus Station,Tim Hortons Field (Tiger-Cats Football & Forge FC Soccer), Art Crawl and Supercrawl.
2023 Central Hamilton Overview
-
$560,738 - Average Selling Price
-
813 - Total # of Sales
-
1,619 - Total # of New Listings
-
28 - Days on the Market
Compared to Previous Years…
-
$642,083 in 2022 (1 year ago)
-
$352,134 in 2018 (5 years ago)
-
$172,138 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
13 |
North End |
$167,028 |
$340,515 |
$558,215 |
|
14 |
Beasley, Landsdale |
$164,387 |
$329,425 |
$526,312 |
|
20 |
Corktown, Stinson, Crown Point, Gibson, Stipley |
$166,127 |
$342,419 |
$543,210 |
|
21 |
Central Mall Area |
$121,452 |
$280,132 |
$461,486 |
|
22 |
St. Clair, Blakeley, Deta |
$241,697 |
$460,259 |
$701,081 |
East Hamilton
Neighbourhood Features - Home to the famous Hutches and Barangas on the Beach Restaurants at Confederation Park on the lake, Waterfront Trail (all the way to Burlington), Eastgate Mall, Brock University Campus, Kings Forest Golf Course and very easy access to QEW Niagara and Toronto, Red Hill Valley Parkway and the Skyway Bridge.
2023 East Hamilton Overview
-
$635,292 - Average Selling Price
-
638 - Total # of Sales
-
1,148 - Total # of New Listings
-
23 - Days on the Market
Compared to Previous Years…
-
$701,685 in 2022 (1 year ago)
-
$379,465 in 2018 (5 years ago)
-
$242,600 in 2013 (10 years ago)
|
District
|
Neighbourhoods
|
Average Prices in 2013
|
Average Prices in 2018
|
Average Prices in 2023
|
|---|---|---|---|---|
|
23
|
Homeside, Normanhurst, McQuesten, Parkview
|
$168,420
|
$331,635
|
$546,693
|
|
24
|
Rosedale, Bartonville, Glenview
|
$232,063
|
$408,352
|
$668,223
|
|
27
|
Riverdale, Kenley
|
$226,151
|
$405,096
|
$705,664
|
|
28
|
Greenford, Vincent, Gershome
|
$222,735
|
$387,978
|
$659,970
|
|
29
|
Hamilton Beach
|
$363,632
|
$582,729
|
$820,948
|
Hamilton Mountain
Neighbourhood Features - Limeridge Mall Shopping Centre, Mohawk College, Hillfield Strathallan Private College, Westmount School and Recreation Centre, Huntington Park Rec Centre, Bernie Arbour Moahawk Sports Park, Chedoke Twin Pad Arena, LINC (Lincoln Alexander Expressway) Escarpment Rail Trail and Chedoke Radial Trail, Numerous Waterfalls.
2023 Hamilton Mountain Overview
-
$752,071 - Average Selling Price
-
1,458 - Total # of Sales
-
2,422 - Total # of New Listings
-
20 - Average Days on the Market
Compared to Previous Years…
-
$837,010 in 2022 (1 year ago)
-
$471,502 in 2018 (5 years ago)
-
$281,375 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
15 |
Mountview, Westcliffe, Buchanan, Southam, Bonnington, Mohawk |
$314,003 |
$525,279 |
$791,973 |
|
16 |
Fessenden, Gilbert, Rolston, Yeoville, Gurnett, Gilkson, Gourley, Kernighan, Falkirk East, Falkirk West, Kennedy, Carpenter |
$298,274 |
$483,155 |
$786,563 |
|
17 |
Centremount, Inch Park, Eastmount, Raleigh, Balfour, Hill Park, Burkhome, Macassa |
$239,726 |
$409,862 |
$660,468 |
|
18 |
Greeningdon, Bruleville, Thorner, Lawfield, Jerome, Crerar, Barnstown, Rushdale, Butler, Randall, Eleanor, Allison, Ryckmans Corners |
$318,343 |
$522,345 |
$823,907 |
|
25 |
Sunninghill, Sherwood, Hampton Heights, Huntington |
$262,109 |
$459,441 |
$727,307 |
|
26 |
Berrisfield, Lisgar, Trenholme, Quinndale, Templemead, Broughton |
$255,796 |
$433,341 |
$693,277 |
Stoney Creek
Neighbourhood Features - Battlefield Park, Eramosa Karst Conservation Area and Caves, Devils Punchbolw Waterfalls and Conservation Area, Felkers Falls, Valley Park Community Centre, Winona, 50 Point Conservation Area and Marina.
2023 Stoney Creek Overview
-
$819,923 - Average Selling Price
-
966 - Total # of Sales
-
2,050 - Total # of New Listings
-
27 - Average Days on the Market
Compared to Previous Years…
-
$927,548 in 2022 (1 year ago)
-
$533,864 in 2018 (5 years ago)
-
$335,690 in 2013 (10 years ago)
| District | Neighbourhoods | Average Prices in 2013 | Average Prices in 2018 | Average Prices in 2023 |
|---|---|---|---|---|
| 50 | Heritage Green, Valley Park, Felker, Trinity, Highland, Leckie Park | $321,987 | $537,073 | $848,126 |
| 51 | Battlefield, Corman, South Meadow, Highway Valley, Dewitt, Eastdale, Polar Park, Guernsey, Westmeria, Fruitland, Community Beach, Winona Park | $325,470 | $530,246 | $778,866 |
| 52 | Rural Stoney Creek | $359,613 | $638,397 | $1,163,155 |
Dundas
Neighbourhood Features - Home of the fun filled Buskerfest and Cactus Festivals, Dundas Driving Park, Dundas Valley Golf and Curling Club, Dundas Valley Conservation Area, Downtown Dundas Shops and Restaurants in a small town setting.
2023 Dundas Overview
-
$931,738 - Average Selling Price
-
255 - Total # of Sales
-
373 - Total # of New Listings
-
26 - Average Days on the Market
Compared to Previous Years…
-
$1,035,109 in 2022 (1 year ago)
-
$575,378 in 2018 (5 years ago)
-
$384,581 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
41 |
Pleasant View, Hopkins Corner, Cootes Paradise, University Gardens, Dundana, Grosvenor's Estate, Highland Park, Pleasant Valley |
$384,581 |
$575,378 |
$931,738 |
Ancaster
Neighbourhood Features - Home of best brunch at Ancaster Old Mill Restaurant, Tiffany and Sherman Waterfalls, Hamilton Golf and Country Club, Gables Golf Club, Meadowlands Power Centre (Costco), Redeemer University College, Ancaster Fairgrounds, Spring Valley Arena.
2023 Ancaster Overview
-
$1,145,515 - Average Selling Price
-
480 - Total # of Sales
-
1,071 - Total # of New Listings
-
29 - Average Days on the Market
Compared to Previous Years…
-
$1,282,615 in 2022 (1 year ago)
-
$739,046 in 2018 (5 years ago)
-
$471,704 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
42 |
Sulphur Spring, Ancaster Heights, Oakhill, Meadowlands, Parkview Heights, Nakoma, Harmony Hall, Shaver, Southcote |
$471,704 |
$739,046 |
$1,145,515 |
Glanbrook
Neighbourhood Features - John C. Munro International Airport, Canadian Warplane Heritage Museum, Garth Trails & Twenty Place Adult Senior Living Condominiums, Southern Pines Golf and Country Club, Glanbrook Sports Complex, Binbrook Fairground Community Park.
2023 Glanbrook Overview
-
$884,571 - Average Selling Price
-
415 - Total # of Sales
-
751 - Total # of New Listings
-
29 - Average Days on the Market
Compared to Previous Years…
-
$998,053 in 2022 (1 year ago)
-
$560,312 in 2018 (5 years ago)
-
$344,038 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
53 |
Glanbrook, Binbrook, Mount Hope |
$344,038 |
$560,312 |
$884,571 |
Grimsby
Neighbourhood Features - Niagara Peninsula Town, On The QEW Between Niagara and Toronto, Nelles Manor (1798 Loyalist Residence), Lake Views, Lake Access Point At Nelles Park Beach & Grimsby Beach Park, Lookout Trail, Conservation, Happening On The Forty Festival, Centennial Park, Forty Creek Distillery, Beamer Falls.
2023 Grimsby Overview
-
$862,156 - Average Selling Price
-
450 - Total # of Sales
-
987 - Total # of New Listings
-
33 - Average Days on the Market
Compared to Previous Years…
-
$959,363 in 2022 (1 year ago)
-
$552,375 in 2018 (5 years ago)
-
$350,770 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
54 |
Grimsby South & North |
$350,770 |
$552,375 |
$862,156 |
Waterdown
Neighbourhood Features - Clappison's Corners, Royal Botanical Gardens, Waterdown Memorial Park, Smokey Hollow Waterfalls, Joe Sam's Leisure Park, Waterdown Supercentre Shopping.
2023 Waterdown Overview
-
$997,887 - Average Selling Price
-
360 - Total # of Sales
-
361 - Total # of New Listings
-
22 - Average Days on the Market
Compared to Previous Years…
-
$1,069,461 in 2022 (1 year ago)
-
$676,613 in 2018 (5 years ago)
-
$442,323 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
46 |
Waterdown East & West |
$442,323 |
$656,012 |
$997,887 |
Burlington
Neighbourhood Features - Millcroft Shopping Centre, Millcroft Golf Club, Tansley Woods Community Centre, Spencer Smith Park, Burlington Beach, Burlington Golf and Country Club, Tyandaga Golf Course, Ikea, LaSalle Park, LaSalle Marina, Royal Botanical Gardens.
2023 Burlington Overview
-
$1,096,137 - Average Selling Price
-
2323 - Total # of Sales
-
3816 - Total # of New Listings
-
22 - Average Days on the Market
Compared to Previous Years…
-
$1,208,840 in 2022 (1 year ago)
-
$742,352 in 2018 (5 years ago)
-
$492,634 in 2013 (10 years ago)
|
District |
Neighbourhoods |
Average Prices in 2013 |
Average Prices in 2018 |
Average Prices in 2023 |
|---|---|---|---|---|
|
30 |
Aldershot |
$520,905 |
$720,069 |
$1,175,201 |
|
31 |
Plains, Maple, Central |
$455,291 |
$720,680 |
$1,034,637 |
|
32 |
Dynes, Longmoor, Pinedale |
$405,930 |
$639,314 |
$1,010,998 |
|
33 |
Roseland, Shoreacres, Elizabeth Gardens |
$729,905 |
$974,912 |
$1,436,691 |
|
34 |
Tyandaga, Mountainside, Brant Hills |
$442,517 |
$668,724 |
$1,040,747 |
|
35 |
Headon Forest, Palmer, Tansley, Millcroft, Orchard, Corporate |
$449,194 |
$672,622 |
$1,005,210 |
|
36 |
Alton West, Alton East |
$517,333 |
$814,907 |
$1,136,759 |
|
38 |
North Burlington Rural |
$838,399 |
$1,460,567 |
$1,713,061 |
Monthly Report For December 2023
December 2022 had only 477 Total Residential Listings come through the Hamilton Real Estate Board which was down 67% from New Listings in November (1,449), and also down 19% from December 2022 (589) as reported by The REALTORS ® Association of Hamilton-Burlington (RAHB). Hamilton had 310 of those (down from 354 in 2022) and Burlington had 74 (down from 118 in December 2022).
Residential Sales located throughout the RAHB market area (including Burlington and all outlying areas covered by RAHB) of 460 Properties were
The end-of-month listing inventory shows 1,203 Active Residential Listings, giving Hamilton 3.87 months of inventory, which is up 18% compared to 1017 Properties still available for sale at the end of December last year which was 3.48 months of inventory. Burlington has 2.98 months of inventory (up 14%) with 301 active listings for sale. Average Days on the market increased from 34 last year to 38 days this December for Hamilton and also increased in Burlington f
The Hamilton - Burlington Area is currently experiencing a Seller's Market, where the ratio of Homes Sold to Homes Listed (438 Sales/476 New Listings) is above 60%, currently sitting at 92% for Residential, (in other words, 9.2 homes are sold for every 10 new listings).
|
Buyers Market Below 40% |
Balanced Market Between 40% and 60% |
Sellers Market Above 60% |
|
(Ratio of Homes Sold to Homes Listed)
|
||
MLS® Property Listings December 2023
|
RAHB Market Activity |
Number of Sales Dec 2023 |
Number of Sales Dec 2022 |
Average Sale Price in Dec 2023 | Average Sale Price Dec 2022 |
|
West Hamilton |
25 |
18 |
$716,540 |
$538,378 |
|
East Hamilton |
34 |
33 |
$632,845 |
$573,127 |
|
Central Hamilton |
38 |
40 |
$495,645 |
$559,453 |
|
Hamilton Mountain |
70 |
65 |
$707,996 |
$733,545 |
|
Flamborough |
12 |
8 |
$1,443,160 |
$1,213,063 |
|
Dundas |
12 |
12 |
$1,121,667 |
$780,250 |
|
Ancaster |
19 |
25 |
$935,289 |
$1,110,804 |
|
Waterdown |
17 |
19 |
$857,347 |
$885,666 |
|
Stoney Creek |
53 |
48 |
$767,974 |
$787,121 |
|
Glanbrook |
16 |
16 |
$838,806 |
$816,313 |
|
Burlington |
98 |
98 |
$1,049,699 |
$1,039,940 |
|
Dunnville |
4 |
10 |
$584,250 |
$751,450 |
|
Cayuga |
0 |
0 |
$000,000 |
$000,000 |
|
Caledonia |
4 |
12 |
$667,000 |
$714,732 |
|
Hagersville |
1 |
5 |
$645,000 |
$479,860 |
|
Seneca |
1 |
0 |
$685,000 |
$000,000 |
|
Rainham |
0 |
2 |
$000,000 |
$577,500 |
|
Grimsby |
10 |
17 |
$716,350 |
$796,000 |
|
West Lincoln |
2 |
5 |
$922,500 |
$776,400 |