Home purchased for nearly $1M sells at 45% loss in southern Ontario

Another home in Hamilton has sold for a huge loss.

Hamilton has seen price declines in the last year or more.

Last month, it was one of five major cities that saw a decline in prices year-over-year, according to a House Price Index report from Wahi, a Canadian real estate platform, and Real Property Solutions, a Canadian provider of property valuation services. Hamilton’s price index was down six per cent last month.

The Realtor Association of Hamilton-Burlington also noted an annual decline of five per cent in its December 2025 report. In 2025, the annual average benchmark price in Hamilton was $718,708, which is five per cent lower than the previous year, the report stated.

Homes in Hamilton have been selling at huge losses. A brick century home in Hamilton sold for a 44 per cent loss in November. Another place in Hamilton sold for a $480,000 loss. And another sold for a 52 per cent loss.

This latest example is a small bungalow that was purchased for $950,000 in January of 2022, according to online real estate records.

A real estate photo shows the home before renovations in 2021.  Photo: Re/Max Escarpment Realty Inc.

Purchased in September 2021 for $601,000, the home underwent renovations before it was re-listed a few months later in January 2022.

The home after renovations in 2022.  Photo: Re/Max Escarpment Realty Inc.

The home just sold this week for $521,000, below the 2021 price, and at a $429,000 loss.

“4 years ago, someone bought this tiny Hamilton house for almost $1 Million…” real estate commentator ShaziGoalie said on X.

The three-bedroom home has two bathrooms and a finished basement. It also has a detached garage.

4 years ago, someone bought this tiny Hamilton house for almost $1 Million….. pic.twitter.com/vDIsLsbFMQ

— Shazi (@ShaziGoalie) March 19, 2026

Lead photo: Google Maps