THE UPPER-END MARKET TREND Burlington-Hamilton

Local buyers, in conjunction with an influx of

purchasers from the Greater Toronto

Area (GTA), propelled sales of luxury homes

to new heights in Hamilton-Burlington’s

residential real estate market in 2013.

The number of properties sold over the

$750,000 price point rose a substantial 31

per cent year-over-year, with 436 high-end

homes changing hands in 2013, up from

334 units one year earlier. Many priced

under $1 million were sold in competitive

situations. 

Sales were most pronounced in

the $800,000 to $899,999 category, representing

approximately one-third of overall

activity in the top end in both Hamilton

and Burlington. Affordability continues to

be a major driver in the Hamilton area,

where 35 per cent of high-end sales occurred.

Large lot sizes and established neighbourhoods

were the draw, with properties in

Ancaster, Aldershot, and the Hamilton

Mountain area most popular with valueconscious

consumers. Average price in Hamilton’s

top end hovered at $931,000 last year.

The highest priced sale in 2013 was a Frenchinspired

bungalow on an expansive lot in

Ancaster, moving for $1.6 million. 

Communities in Burlington have also experienced

strong demand, particularly those

bordering neighbouring Oakville. The

average price of an upper-end home in

Burlington was just over $1.05 million in

2013. Burlington’s most expensive sale—a

$5.95 million waterfront estate—was situated

on a double lot overlooking the Toronto

skyline. 

The move to higher-density housing within both 

areas has solidified the value of single-detached

homes with the purchasing public. Many buyers 

are viewing older homes, aged 20 years plus, 

with good bones and a workable layout as an

opportunity. Investment in terms of renovation

and additions are par for the course, given
the value that lies within these communities.

Upscale condominiums are in demand,
yet product continues to be in short
supply in both Hamilton and Burlington.
At present, there are approximately 120
active high-end listings in Burlington and
100 in Hamilton, yet only a handful are
condominiums. Burlington’s most expensive
condo sale in 2013 moved in just over
a week. The waterfront unit fetched $1.36
million and boasted more than 2,000 sq.
ft. of living space. A 2,165 sq. ft. unit in
the Creekside development in Dundas
was Hamilton’s most expensive condominium
sale in 2013, netting $850,000.

Solid demand and tight inventory levels
should continue to fuel upper-end sales—
both single-family and condominium—
in Hamilton-Burlington throughout 2014.
Hamilton’s increasingly diversified economic
base, in particular, is expected to draw
purchasers to the area. Last year, buyers
from the GTA represented an estimated
25 per cent of market activity at the top
end. The trend is likely to continue in the
year ahead.