Home sells at $1.47M loss in this Ontario city

A home that sold for over $3.2 million a little more than three years ago in Hamilton just traded hands again at a loss of more than $1.4 million.

Some properties once thought to be multi-million dollar purchases have sold for big losses, including four homes that sold at massive losses in southern Ontario.

The latest eye-catching home added to the list is a 4+2 bedroom property at 166 Concession Hamilton that sold for $3,320,000 in February of 2022, but sold again this year for $1,850,000.

Real estate watcher ShaziGoaliea called it a “tectonic $1.4M loss.”

“The Power of Sales are simply out of control and lenders are taking anything they can as they rush to the exits,” ShaziGoalie said in a post on X.

The 4+2 bedroom home features six baths and a two-car detached garage, and was valued at $1,970,700 by real estate website House Sigma. Multiple previous listings online list it as a “luxury” property.

The home has gone on the market multiple times since it peaked in 2022, and was listed in 2018 for $1,998,900. It was listed again in  November of 2024, for $2,499,995 but was terminated.

📢 Horror in Hamilton

📍Hamilton, ON 🇨🇦

This is utterly horrific. 😱

The Power of Sales are simply out of control and lenders are taking anything they can as they rush to the exits. 🏃‍♂️

This one was bought in 2022 for $3.25M. 💰

The lender just accepted an offer for $1.85M, a… pic.twitter.com/yG5SB1JSQU

— Shazi (@ShaziGoalie) May 23, 2025