Average sold price, Hamilton, all property types (as reported by Urban Group, citing Cornerstone and ITSO data)
$724,461 (down 7.3% in a year)As of October 2026.Source
Median sold price, Hamilton
$655,000As of October 2026.Source
MLS Home Price Index benchmark, Hamilton
$667,500 (down 4.3%)As of October 2026.Source
Population of the City of Hamilton, and growth since 2016
569,353 (up 6.0%)As of 2021 Census.Source
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Hamilton is where Ontario’s price correction shows most plainly. The figures that follow are for a market where the average sold price dropped more than the benchmark, and where houses and condos moved by very different amounts.

424 sales, a $724,461 average and a $655,000 median

For October 2026, ViewHomes, republishing Cornerstone Association of REALTORS and ITSO data, puts Hamilton at 424 sales, an average of $724,461 and a median of $655,000. The average was down 7.3% from October 2025. The MLS Home Price Index benchmark was $667,500, down 4.3%. New listings fell 14.9% to 1,003, and inventory of 2,042 homes held supply at 4.8 months.

The two measures differ because they answer different questions. The average follows whatever sold. The benchmark follows a typical home. For borrowing, use the benchmark as the trend and your own appraisal as the number.

Houses and condos have moved apart

Detached homes had a median of $702,500 in October, down 5.0%. Townhouses, condos and semi-detached homes combined saw their median fall 13.4% to $535,000. Detached homes took 37 days to sell and condos 48.

The difference matters for equity. If you own a condo bought in the last few years, your room under a lender’s ceiling may have shrunk faster than a house owner’s. Urban Group’s Hamilton page and ViewHomes give the same average, $724,461, which is the figure we use.

In 2021 the City of Hamilton had 569,353 residents, up 6.0% from 536,917, and the Hamilton census metropolitan area had 785,184 people.

What a 10% fall does to a Hamilton owner’s room

Apply the 80% limit the Financial Consumer Agency of Canada describes to the two examples above. The first sets a home at the $724,461 average against a $540,000 balance: $39,569 of room, and $9,569 left after a $30,000 loan. The second sets a home at the $655,000 median against $450,000: $74,000 of room, so a $75,000 loan is $1,000 over.

A 10% fall in a $724,461 home would take 80% of the value from $579,569 to $521,612, and the owner with $540,000 owing would be $18,388 over the ceiling before borrowing anything. Falling prices bite hardest where margins are thinnest. Try your own balance on the calculator.

Renewals, arrears and the Hamilton picture

CMHC’s October 27, 2026 release places the expected rise in Ontario arrears, through mid-2027, mainly in the Greater Toronto and Hamilton Area and southwestern Ontario, and links it to trade pressure on manufacturing, automotive included. It also says the largest renewal shock has probably passed. Ontario’s rate was 0.32% in the second quarter of 2026.

If a renewal is the issue, read renewal payment shock and price a renewal or bank refinance first. If credit or income documents are the barrier, B-lender second mortgages explains the middle tier. For debt payoff, the consolidation page shows how fees can erase savings.

Hamilton against its region

The Cornerstone figures cover Hamilton, Burlington, Haldimand County and Niagara North together. The region had 709 sales in October 2026 at an average of $799,762, down 5.0% from a year earlier, and Hamilton’s 424 sales were about 60% of them. Burlington’s average of $1,051,747 in the same data is $327,286 above Hamilton’s, and Haldimand County stood at 7.2 months of supply, firmly in buyers’ territory.

For a Hamilton owner the lesson is not to borrow on a regional number. The region’s prices are pulled up by Burlington. Hamilton’s own median of $655,000 is the more honest guide, and a current appraisal is better still.

What the condo drop implies

A median of $535,000 for townhouses, condos and semi-detached homes, down 13.4%, implies a median near $617,800 a year earlier. A condo owner who counted on last year’s value would be working from a number about $82,800 too high. That is the kind of gap that turns a planned loan into a refusal at the appraisal stage.

Fees, and verifying who you deal with in Hamilton

Land transfer tax applies to purchases, and we found no such line for registering a second mortgage. Expect the lender’s fee, a broker fee, legal costs, an appraisal and the registration fee, as listed on the Ontario page.

Private lenders in Ontario work through Level 2 agents and brokers, and the FSRA register confirms who holds a licence. With your Hamilton numbers drafted, send them for a licensed review. For nearby markets see Burlington and Oakville.

A Hamilton home at the October 2026 average with $540,000 owing

The $724,461 value is the October 2026 average sold price for Hamilton from the Cornerstone data as reported by ViewHomes and Urban Group, used as a stand-in for an appraisal. The $540,000 first mortgage and $30,000 loan are made up. The 80% ceiling is the one the Financial Consumer Agency of Canada describes.

Home value used
$724,461
80% of the home value
$579,569

$724,461 times 0.8, rounded

Room under the ceiling
$39,569

$579,569 minus $540,000

Combined loan-to-value with the loan
78.7%

$570,000 owed on $724,461

Room left after the $30,000 loan
$9,569

The loan fits, with $9,569 to spare. A fall of about 1.7% in the value used would close that gap.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

A Hamilton home at the October 2026 median with $450,000 owing

The $655,000 value is the October 2026 median sold price for Hamilton from the same data, used as a stand-in for an appraisal. The $450,000 first mortgage and $75,000 loan are made up.

Home value used
$655,000
80% of the home value
$524,000

$655,000 times 0.8

Room under the ceiling
$74,000

$524,000 minus $450,000

Combined loan-to-value if the full loan were made
80.2%

$525,000 owed on $655,000

Amount the loan exceeds the room by
$1,000

On the median the same style of request is $1,000 over the line. A few thousand dollars of value decides whether it fits.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

Why does Hamilton's average price differ so much from its benchmark?

The average of $724,461 in October 2026 reflects whichever homes sold that month, while the $667,500 benchmark adjusts for the mix and tracks a typical home. The benchmark fell 4.3% and the average 7.3%, so use the benchmark for trend.

Are Hamilton condos weaker than houses right now?

Prices say so. In October 2026 the median for townhouses, condos and semi-detached homes fell 13.4% to $535,000, while the detached median eased 5.0% to $702,500. Lenders may be more cautious on condos, so ask each one about your unit.

How many Hamilton homes were for sale in October 2026?

Inventory ended the month at 2,042 homes, down 14.6% from a year earlier, which held supply at 4.8 months. Fewer listings can support prices, but sales also fell 8.0%. A lender will value your own home, not the market.

Does the Hamilton area include Ancaster, Dundas and Stoney Creek?

Yes, the Hamilton figures in the ITSO data cover the City of Hamilton and its amalgamated communities, including Ancaster, Dundas, Flamborough, Glanbrook, Stoney Creek and Waterdown. Prices differ a lot between them, so your neighbourhood matters.

Does CMHC list Hamilton among the areas where arrears are rising fastest?

CMHC says the arrears increase through mid-2027 is concentrated in the Greater Toronto and Hamilton Area and southwestern Ontario. That covers Hamilton. CMHC gave no city figure, and rising regional arrears do not predict your own mortgage.

Nearby cities

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Sources