Home purchased for $875K sells for a 44% loss in Ontario

A home purchased in 2022 has sold for a huge loss in Hamilton.

It is a tough real estate market for homeowners looking to sell.

Housing prices are down in Hamilton. The unadjusted benchmark price was $747,200 in October 2025, which is similar to the price from last month and nine per cent lower than the same period in 2024, the Realtors Association of Hamilton-Burlington said in its monthly report.

The association covers Hamilton, Burlington, Haldimand County and Niagara North.

Many homes have sold for well under what buyers paid recently.

A home in a trendy Toronto neighbourhood purchased for over $2 million recently sold at an $800,000 loss. Another place, purchased for $1.6 million in 2021 in Brampton, sold for a $320,000 loss.

This latest example in Hamilton is a brick century house at 63 New St. in the Strathcona neighbourhood of Hamilton.

This place sold for $875,000 in February 2022. It was listed several times in 2025, starting in April for $675,000. The list price dropped to $500,000 in the summer.

The entryway at 63 New St., Hamilton. Photo: Re/Max Escarpment Realty Inc.

It finally sold for $490,000 in November.

“The owners have been trying to unload for more than 6 months now, they finally capitulate to a 44% loss,” real estate commentator ShaziGoalie said on X.

The three-bedroom, two-bathroom home features a kitchen with a walk-out to a fully fenced yard with an interlock patio. Reclaimed brick was used in the gas fireplace.

The home is steps to Locke street, shops and restaurants and all other amenities.

📢 Hamilton Horror

📍Hamilton, ON 🇨🇦

The BRRR game is over. 💀

Someone thought it was a good investment to buy this century home in Hamilton for almost $900,000 in 2022. 💸

If you take a walk down this street you would understand why that was an insane idea. 🚶‍♂️😬

The… pic.twitter.com/GtTZuDDABq

— Shazi (@ShaziGoalie) November 9, 2025

Lead photo: Re/Max Escarpment Realty Inc.