Home sells for $850,000 loss in southern Ontario city

Another home has sold for a huge loss in southern Ontario.

Home prices are down across Canada compared to highs in 2021 and 2022.

The latest Canadian home price index from real estate platform Wahi found prices fell two per cent year-over-year in February.

Five cities—Ottawa, Hamilton, Toronto, Vancouver and Victoria—are experiencing annual price declines. Hamilton and Toronto both saw year-over-year declines of six per cent, while Ottawa was down one per cent.

Hamilton’s price declines have been blamed on the impacts of tariffs on the city’s steel industry.

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. Last week, a home sold for a $429,000 loss.

This latest example is a home at 18 Legacy Lane in Ancaster (Hamilton).

This four-bedroom home sold for $2,650,000 in February 2023, according to online real estate records.

The property was listed a few months later in August 2023 for $2,599,000, but it didn’t sell. The price dropped as it was re-listed in 2024 and 2025. It finally sold for $1.8 million this month.

“In 2022, this Hamilton home sold for $2.65M. After multiple listings and price cuts… it finally sold for $1.80M,” real estate commentator ShazieGoalie said on X. “That’s $850,000 gone.”

Described as a “gem in Ancaster,” the home was built in 2017.

Photo: 1st Sunshine Realty Inc.

Features include hardwood flooring throughout, including the second floor, three full bathrooms and four bedrooms upstairs, a built-in barbecue and seating area with a fireplace.

In 2022, this Hamilton home sold for $2.65M.

After multiple listings and price cuts…
it finally sold for $1.80M.

That’s $850,000 gone. pic.twitter.com/uPhY2aiQpj

— Shazi (@ShaziGoalie) March 24, 2026

Lead photo: 1st Sunshine Realty Inc.