Housing prices in Hamilton continue to rise as home-buyers look for cheaper alternatives to the GTA. A Royal LePage survey shows the price of a home in Hamilton jumped to more than $419 000 in the third quarter. A 10% jump compared to the same time last year.
The median price of a two-storey home increased by 10% to over $438 000 and a bungalow jumped 12.4%. However, the price of condominiums dropped 6.6% to $232 000. One broker speculates this may be due to increasing condo fees.
Nationally, the price of a home rose 12% to over $545 000, with the price of a two-storey home rising almost 14% to nearly $650 000, a bungalow to $459 000 and the price of a condo sitting at over $360 000 with a 5.8% increase.