Hamilton Housing Market Outlook 2026
Hamilton Listings Dry Up Faster Than Sales
Supply left the Hamilton market faster than buyers did last month. According to the Cornerstone Association of Realtors, for July 2026, 500 homes were sold in the city, a decrease of 8.6% from July 2025, while new listings fell more than twice as fast.
- The average sale price in Hamilton was $741,172, down 3.9% from the previous year. Across the broader Hamilton region, the MLS Home Price Index registered $729,800, a decline of 4.9% annually and 1% from June.
- New listings dropped 19.8% to 1,019 properties. Months of supply tightened to 4.7 from a year ago, a fall of 9.6%, though inventory remains elevated by historical standards for this market.
- Homes took longer to sell despite the tighter supply, averaging 42 days on the market compared with 38 in July 2025, an increase of 10.5%.
Longer selling times alongside shrinking inventory is an unusual combination, and it points to a pricing standoff rather than a demand collapse. Sellers who came to market in the spring at spring expectations are waiting, and buyers are not chasing. That tension typically resolves through price adjustments rather than a sudden return of competition. Hamilton also carries one of the widest gaps in the country between current affordability and its own long-run norm. National Bank of Canada put the local mortgage-payment-to-income ratio at 57.5% in the second quarter, more than 14 points above its post-2000 average, even after recent improvement.
Patience is an asset in a market like this, provided your financing is settled. Start by comparing current mortgage rates in Hamilton, then connect with our nesto mortgage experts to understand your position before you make an offer.
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Hamilton Housing Market Highlights
- The average selling price of a home in Hamilton decreased by 5.4% year-over-year to $737,400 in June.
- The average selling price of a single-family home in Hamilton decreased by 4.7% year-over-year to $832,500 in June.
- The average selling price of a townhouse/multiplex in Hamilton decreased by 8.6% year-over-year to $621,100 in June.
- The average selling price of a condo in Hamilton decreased by 8.9% year-over-year to $452,800 in June.
- The average rent in Hamilton decreased by 5.3% year-over-year to $1,929 for June.
- August 21, 2026: Today’s lowest mortgage rate in Hamilton is 4.24% for a 5-year fixed.
Data from the Cornerstone Association of Realtors indicates that the average price of resale residential homes sold across Hamilton in June was $737,400, and it decreased by 5.4% compared to a year ago.
Cornerstone also reported a sales-to-new-listings ratio (SNLR) of 50%, indicating Balanced market conditions in Hamilton for June.
Average Home Prices in Hamilton by Property Type
Composite Home Prices
The average selling price of a home in Hamilton was $737,400 for the month of June, that’s decreased by 0.9% month-over-month. On a year-over-year basis, Hamilton home prices have decreased 5.4% year-over-year.
Single-family Home Prices
The average selling price of a single-family home in Hamilton was $832,500 for the month of June, that’s decreased by 0.6% month-over-month. On a year-over-year basis, single-family home prices in Hamilton have decreased by 4.7% year-over-year.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Hamilton was $621,100 for the month of June, that’s decreased by 2.5% month-over-month. On a year-over-year basis, the price of a townhouse in Hamilton has decreased by 8.6% year-over-year.
Condo Prices
The average selling price of a condo in Hamilton was $452,800 for the month of June, that’s decreased by 0.2% month-over-month. On a year-over-year basis, the price of a condo in Hamilton has decreased 8.9% year-over-year.
Hamilton Home Sales, New Listings and Market Conditions
Transactions and Number of Sales
The number of sales in Hamilton was 798 during June, that’s increased by 44.8% month-over-month. On a year-over-year basis, sales in Hamilton have decreased by 9.9% year-over-year.
New Listings
The number of new listings in Hamilton was 1,597 during June, that’s increased by 31.9% month-over-month. On a year-over-year basis, new listings in Hamilton have decreased by 17.9% year-over-year.
Sales-to-New-Listings Ratio (SNLR)
The sales-to-new-listings ratio (SNLR) in Hamilton was 50% during June, indicating a Balanced. On a monthly basis, that’s increased by 9.8% month-over-month. Hamilton’s yearly sales-to-new-listings ratio has increased by 9.7% year-over-year.
The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% indicates a buyer’s market, where buyers hold the upper hand and greater negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Composite Home Prices in Hamilton
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Hamilton Market Rents Snapshot
The average rent in Hamilton was $1,929 for the month of June, which decreased by 5.3% year-over-year.
The average rent for a 1-bedroom apartment in Hamilton was $1,654 for the month of June, which decreased by 7% year-over-year.
The average rent for a 2-bedroom apartment in Hamilton was $2,235 for the month of June, which increased by 5.5% year-over-year.
Average Rent by City in Canada
| Rank | City | Total Average | 1 Bedroom | 2 Bedrooms |
|---|---|---|---|---|
| 1 | North Vancouver | $3,039 | $2,588 | $3,458 |
| 2 | Vancouver | $2,686 | $2,377 | $3,255 |
| 3 | Toronto | $2,580 | $2,234 | $2,947 |
| 4 | North York | $2,565 | $2,188 | $2,743 |
| 5 | Burnaby | $2,543 | $2,159 | $2,802 |
| 6 | Coquitlam | $2,526 | $2,134 | $2,753 |
| 7 | Oakville | $2,517 | $2,198 | $2,819 |
| 8 | Kanata | $2,514 | $2,230 | $2,751 |
| 9 | Etobicoke | $2,439 | $2,094 | $2,624 |
| 10 | Halifax | $2,372 | $2,071 | $2,616 |
| 11 | Burlington | $2,370 | $2,075 | $2,448 |
| 12 | Mississauga | $2,357 | $2,052 | $2,445 |
| 13 | Vaughan | $2,319 | $2,048 | $2,580 |
| 14 | Victoria | $2,307 | $2,016 | $2,682 |
| 15 | Brampton | $2,285 | $2,001 | $2,379 |
| 16 | Langley | $2,239 | $1,899 | $2,457 |
| 17 | Ajax | $2,234 | $1,878 | $2,218 |
| 18 | Guelph | $2,217 | $1,905 | $2,280 |
| 19 | Scarborough | $2,213 | $1,872 | $2,288 |
| 20 | New Westminster | $2,190 | $1,880 | $2,656 |
| 21 | Surrey | $2,167 | $1,794 | $2,239 |
| 22 | Ottawa | $2,164 | $1,960 | $2,449 |
| 23 | Barrie | $2,155 | $1,863 | $2,108 |
| 24 | Waterloo | $2,118 | $1,915 | $2,234 |
| 25 | Kingston | $2,100 | $1,827 | $2,271 |
| 26 | Laval | $2,096 | $1,732 | $2,356 |
| 27 | Nanaimo | $2,092 | $1,835 | $2,290 |
| 28 | Kelowna | $2,091 | $1,808 | $2,248 |
| 29 | East York | $2,050 | $1,791 | $2,312 |
| 30 | Cambridge | $2,042 | $1,847 | $2,139 |
| 31 | Greater Sudbury | $2,021 | $1,708 | $2,072 |
| 32 | Oshawa | $2,002 | $1,740 | $2,017 |
| 33 | Airdrie | $1,987 | $1,441 | $1,804 |
| 34 | Peterborough | $1,977 | $1,742 | $1,957 |
| 35 | Brossard | $1,970 | $1,722 | $2,199 |
| 36 | Kamloops | $1,956 | $1,731 | $2,042 |
| 37 | Montreal | $1,941 | $1,769 | $2,255 |
| 38 | Niagara Falls | $1,940 | $1,600 | $1,980 |
| 39 | Brantford | $1,936 | $1,807 | $2,043 |
| 40 | Hamilton | $1,929 | $1,654 | $2,235 |
| 41 | London | $1,924 | $1,670 | $2,058 |
| 42 | Kitchener | $1,908 | $1,684 | $2,078 |
| 43 | Calgary | $1,883 | $1,513 | $1,847 |
| 44 | St. Catharines | $1,817 | $1,558 | $1,931 |
| 45 | Welland | $1,779 | $1,522 | $1,985 |
| 46 | Gatineau | $1,775 | $1,592 | $1,852 |
| 47 | Côte Saint-Luc | $1,704 | $1,441 | $1,997 |
| 48 | Windsor | $1,685 | $1,492 | $1,921 |
| 49 | Sarnia | $1,680 | $1,495 | $1,728 |
| 50 | Winnipeg | $1,663 | $1,463 | $1,759 |
| 51 | Edmonton | $1,617 | $1,282 | $1,638 |
| 52 | Red Deer | $1,536 | $1,293 | $1,509 |
| 53 | Lethbridge | $1,519 | $1,342 | $1,571 |
| 54 | Quebec City | $1,516 | $1,279 | $1,611 |
| 55 | Saskatoon | $1,514 | $1,310 | $1,537 |
| 56 | Regina | $1,444 | $1,300 | $1,540 |
| 57 | Fort McMurray | $1,412 | $1,221 | $1,426 |
| 58 | Medicine Hat | $1,359 | $1,237 | $1,380 |
| 59 | Lloydminster | $1,348 | $1,072 | $1,386 |
| 60 | St. John's | $1,215 | $1,105 | $1,314 |
Source: Rentals.ca Network Data & Urbanation Inc.
Average Rent by Province in Canada
Rental Price Growth by Housing Type
How Does Renting Compare With Homeownership in Hamilton?
Each $100,000 in mortgage balance costs an average of $530.91 per month on nesto’s lowest fixed 5-year rate at 4.24% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.45%.
For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.42. The interest rates used for calculation are those offered on insured purchases with less than a 20% down payment on a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.
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Frequently Asked Questions (FAQ) About the Hamilton Housing Market in 2026
Are Hamilton Housing Market Conditions Favouring Buyers or Sellers in 2026?
Hamilton housing market conditions still favour buyers in 2026, though less than they did earlier in the year. Months of supply tightened to 4.7 in July, down 9.6% from a year earlier, but inventory remains elevated by historical standards for this market. New listings fell 19.8% to 1,019 properties, while sales declined 8.6%, so supply is leaving faster than demand. Buyers retain negotiating room, and the direction of travel is against them.
Are Hamilton Home Prices Going Up or Down in 2026?
Hamilton home prices are falling in 2026. The average sale price in the city was $741,172 in July, down 3.9% from a year earlier, and the MLS Home Price Index for the broader Hamilton region registered $729,800, down 4.9% annually and 1% from June. The declines are consistent across both measures, which indicates genuinely lower values rather than a shift in which homes are selling.
Why Are Hamilton Homes Taking Longer to Sell While Inventory Shrinks?
Hamilton homes are taking longer to sell while inventory shrinks because the market is in a pricing standoff. Homes averaged 42 days on market in July, up from 38 a year earlier, even as new listings fell 19.8%. Sellers who listed in the spring at spring expectations are holding out, and buyers are not chasing them. That kind of tension usually resolves through price adjustments rather than a sudden return of competition, which is why prices continue to ease.
Is Hamilton Housing Affordability Improving in 2026?
Hamilton’s housing affordability is improving in 2026 but remains among the worst in the country relative to its own history. National Bank of Canada put the local mortgage-payment-to-income ratio at 57.5% in the second quarter, more than 14 points above its post-2000 average even after recent improvement. Prices are falling, which helps, but the gap between what Hamilton households earn and what Hamilton homes cost is still unusually wide by this market’s own standards.
Is Hamilton Cheaper Than Toronto for Buyers?
Hamilton is cheaper than Toronto for buyers in 2026, with an average sale price of $741,172 against a Greater Toronto average of $1,003,956. The saving is smaller in practice than the headline gap suggests, because Hamilton incomes are lower than Toronto’s, which is why the local payment-to-income ratio sits at 57.5% despite the lower price. Buyers comparing the two should weigh commuting costs and the affordability ratio rather than the price difference alone.
What Is Limiting Hamilton Housing Demand in 2026?
Population is the main factor limiting Hamilton’s housing demand in 2026. Ontario’s population growth turned negative in the second quarter, running 0.9% below year-earlier levels after reaching 3.6% two years ago, and Hamilton has historically absorbed buyers priced out of Toronto, so a slowdown in provincial population growth hits this market twice. Qualification is the second constraint, with the payment-to-income ratio at 57.5% and the mortgage stress test requiring borrowers to qualify at a rate higher than their actual rate.
Is It Cheaper to Rent or Buy in Hamilton in 2026?
Renting is still cheaper month-to-month than buying in Hamilton in 2026. Hamilton’s average rent sits near the middle of the Ontario range, while the average purchase price of $741,172 carries a payment-to-income ratio of 57.5%, one of the widest gaps between renting and owning in the province. Which option costs less over time depends on how long it takes to save the down payment, how long you plan to stay, and the mortgage rate you qualify for.
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