Home sells for $480k loss in southern Ontario

Another home has sold for a massive loss in Ontario.

Housing prices are down in Hamilton. The unadjusted benchmark price was $747,200 in October 2025, 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.

Along with Toronto and Vancouver, Hamilton has seen a price drop, according to real estate platform Wahi and Real Property Solutions’ home price index report. Wahi suggested U.S. steel tariffs could be a factor in the decline in Hamilton.

There have been several huge losses in the steel city.

A brick century home in Hamilton sold for a 44 per cent loss earlier this month. Another place in Hamilton sold for a 60 per cent loss in September. And another sold for a 52 per cent loss.

A three-bedroom bungalow at 201 Bow Valley Dr. in Hamilton’s Riverdale East neighbourhood is the latest example. 

The home sold for $1,201,500 in January 2022, according to online real estate records. 

Just a few years before, in 2019, the home sold for $495,000.

It was listed for lease in 2023— $2,800 for the ground floor and $3,200 for the upper level.

In September, the place was listed for sale for $720,000 and it sold for that price in November, an over $480,000 loss.

“This tiny 3+2 bedroom bungalow was bought in Hamilton in 2022 for a staggering $1.2 million,” real estate commentator ShaziGoalie said on X. “They then put it up for rent. If you rented both upstairs and downstairs, you would have had to shell out $6,000 a month. Fast forward 3 years and the owners have capitulated for a 40% loss at almost $500,000.”

The home is described as a four-level backsplit, which is across the street from a ravine with walking trails.

The main floor features a bright kitchen, living room and dining area.

Upstairs, there are three bedrooms and a five-piece bathroom.

The finished lower level and basement include two additional bedrooms, a second full bathroom and a second kitchen, the listing states. There is also a separate side entrance.

📢 Rental Wreckage

📍Hamilton, ON 🇨🇦

Landlords are hurting really badly. 😬

This tiny 3+2 bedroom bungalow was bought in Hamilton in 2022 for a staggering $1.2Million. 💸

They then put it up for rent. If you rented both upstairs and downstairs, you would have had to shell… pic.twitter.com/GWjRBNRC6v

— Shazi (@ShaziGoalie) November 19, 2025

Lead photo: Re/Max Aboutowne Realty Corp., Brokerage