February 2026

February is traditionally Hamilton’s quietest month for real estate activity — buyers and sellers are waiting for spring, the cold keeps foot traffic low, and volume is always thin compared to what follows in March through May. With that context in mind, the February 2026 data still carries meaningful signals about where the market is heading. Sales fell sharply year over year, new listings collapsed even further, and prices continued their year-over-year correction. But there is one number in the February data that stands out as genuinely positive — and it has implications for anyone thinking about buying or selling in Hamilton this spring.

Here is a straight read of what happened in Hamilton in February 2026.

February 2026 at a Glance — The Key Numbers

Hamilton recorded 324 total residential sales in February 2026, a decline of 19.6% from February 2025. New listings were down even more sharply — 20% year over year to 754 total listings — which is the number worth paying attention to. When both sales and new listings fall together, the market is not getting worse for sellers — it is getting tighter. Total inventory came in at 1,616 active listings, up just 1.1% from February 2025. That near-flat inventory figure, despite the sharp new listings decline, reflects carry-over from the elevated inventory of 2025.

The average residential sale price in February was $720,197, down 5.9% from February 2025. The median sale price was $670,000, down 3.9%. Sellers received an average of 97.0% of their list price — down 1.5% year over year, indicating buyers are still negotiating but not dramatically so on well-priced homes.

Homes sat on the market for an average of 50 days in February — up 28.2% from February 2025’s 39-day average. Months of supply sits at 3.6 — up 12.5% from last year but still not in deeply buyer’s market territory. For context, the months-of-supply readings from mid-2025 were consistently above 5 months. The current 3.6 reading, heading into the seasonally stronger spring months, is a meaningful improvement.

The Number That Matters Most in February — New Listings Down 20%

The most important figure in February’s data is not the price decline or the sales volume drop. It is the 20% year-over-year collapse in new listings.

In a market correction, the pace of new listings coming to market is what determines how long and how deep the correction runs. Throughout most of 2025, Hamilton was dealing with elevated new supply meeting reduced demand — which is what pushed prices down and days on market up. February 2026 shows that supply is now contracting meaningfully.

For single family homes specifically, new listings fell 19.4% year over year to 486. For townhouses and condos, they fell 21.2% to 268. Both categories are seeing sellers hold back — either waiting for better conditions, unable to upsize given current rates, or simply choosing not to move.

The practical implication: heading into spring, the inventory available to buyers will be tighter than it was in spring 2025. That tighter supply is the mechanism that will stabilise and eventually reverse the price correction that has been underway since late 2022. It does not mean prices are about to surge — but it does mean the conditions for a market floor are beginning to form.

Single Family vs. Townhouse and Condo — February’s Split

The divergence between property types continued in February, with the single family segment remaining under meaningful pressure while the townhouse and condo segment showed relative resilience in one key metric.

Single family homes saw their sharpest monthly sales decline of 2026 so far — down 23.9% year over year, from 280 to 213 sales. The average sale price came in at $800,882, down 4.7% from February 2025. The median was $723,000, down 5.8%. Days on market averaged 47 days — up 30.6% year over year. Months of supply for single family homes is 3.1 — just barely into buyer-leaning territory and heading toward balanced as spring listings begin to appear.

The townhouse and condo segment showed a softer sales decline — down 9.8% year over year, from 123 to 111 sales. The average price was $566,096, down 4.9%. The median was $584,500, down 4.2%. Days on market averaged 56 days. Months of supply sits at 4.7 — more elevated than the single family segment, reflecting the continued inventory pressure in this category. However, the Housing Value Index for townhouses and condos fell only 3.8% year over year in February — significantly better than the 12.0% decline in the single family segment’s index — suggesting the quality-adjusted value of condos and townhouses is holding up better than the headline sales figures imply.

Benchmark Prices by Property Type — February 2026

The benchmark price data gives the clearest picture of where values sit for a typical home in each category.

Detached homes: $795,758, down 5.3% year over year. The largest and most established segment of Hamilton’s market continues its gradual correction from the 2022 peak.

Semi-detached homes: $645,619, down 5.2% year over year. Consistent with the broader freehold correction trend.

Row homes (townhouses): $623,347, down 5.3% year over year. Similar pace of correction to the detached segment.

Apartments and condos: $409,258, up 4.2% year over year. This is the standout figure in February’s benchmark data — the only property category showing a year-over-year benchmark price increase. This needs to be interpreted carefully: February condo volumes are thin, and a single month uptick does not confirm a trend reversal. But it is consistent with the Housing Value Index data showing the condo segment holding up better than the headline average sale price figures suggest.

The Year-to-Date Picture — What 2026 Looks Like Through February

The first two months of 2026 show a market that is contracting on both the supply and demand side simultaneously — which, counterintuitively, is not necessarily a negative signal for prices.

Total residential sales year to date sit at 644 — down 17.6% from the same period in 2025. But new listings are down 19.5% year to date, to 1,521 total. The fact that new listings are falling faster than sales is the key dynamic to watch. When supply contracts faster than demand, the months-of-supply figure stabilises — which is exactly what the February data shows at 3.6 months.

The average sale price year to date is $727,384, down 4.9% from the first two months of 2025. The median year to date is $668,000, down 4.8%. Days on market year to date average 53 days — up 15.2% from last year.

The affordability picture year to date is the most encouraging data point. The Housing Affordability Index sits at 66 year to date — up 11.9% from the same period in 2025. For single family homes specifically the index is 62, up 17.0% year over year. Hamilton homes are meaningfully more accessible to qualified buyers now than they were a year ago, and significantly more accessible than they were at the 2022 peak. That improving affordability is the foundation for eventual demand recovery.

What the Broader Context Says — National Signals in February

Nationally, Canadian home sales fell 5.8% month-over-month in February, with CREA attributing the drop to weather-related disruptions and softening activity specifically in Southwestern Ontario and the Greater Golden Horseshoe region — which includes Hamilton directly. Year-over-year, national sales were down 16.2%.

New listings nationally rose 7.3% month-over-month, leaving 140,680 properties listed across all Canadian MLS systems heading into February — a 4.9-month supply at the current sales pace. The additional national supply put downward pressure on prices, with the MLS Home Price Index slipping 0.9% month-over-month and 4.9% year-over-year.

The national context matters for Hamilton in one specific way: CREA explicitly called out Southwestern Ontario as a region of particular softness in February. The weather disruptions that affected buyer activity nationally were felt locally, which helps explain why February’s sales volume decline was sharper than January’s. This is context worth keeping in mind — the February number is likely softer than the underlying trend would suggest, which means March’s data should provide a cleaner read on where Hamilton’s spring market is actually heading.

What This Means for Hamilton Buyers in Spring 2026

For buyers, February’s data reinforces a window of opportunity that remains open but is beginning to narrow in the single family segment. Months of supply for single family homes at 3.1 is approaching balanced territory — and with new listings down 19% year over year, the inventory available to buyers this spring will be tighter than it was twelve months ago.

The message for buyers who are financially ready: do not assume the buyer-favourable conditions of 2025 will last indefinitely through 2026. The combination of contracting supply, improving affordability, and the approaching spring market creates conditions where the best-priced properties in desirable Hamilton neighbourhoods will begin moving faster as buyer activity picks up seasonally.

Getting pre-approved now — before the spring rush — is the single most useful thing a buyer can do. It tells you your real number, locks in a rate for 90 to 120 days, and means you can act decisively when the right property comes up rather than scrambling to get financing in order.

If you are ready to start your Hamilton property search, browse current MLS listings to see what your budget gets you across different areas right now.

What This Means for Hamilton Sellers in Spring 2026

For sellers, February’s collapse in new listings is actually good news — it means less competition from other sellers heading into what should be the busiest buying season of 2026. The sellers who will benefit most from spring 2026 are those who list early, price accurately, and present their homes well before the market fills up with competing inventory in April and May.

The 97.0% list-price-received figure in February — even in the slowest month of the year — tells you that accurately priced homes are still selling close to asking. The gap between a well-priced home and an overpriced one is not closing. Homes that enter the market at inflated prices are sitting for 50+ days and then selling for less than they would have at the right price from day one.

If you have been thinking about selling in 2026, the strategic window to list is now through April — before the spring inventory surge and while buyer attention is building seasonally. The first step is knowing your real number based on current comparable sales in your specific neighbourhood.

Frank’s free home evaluation gives you that number, with no obligation to list.

Looking Ahead — What to Watch as Hamilton Enters Spring

February is the calm before the spring market storm in Hamilton real estate, and 2026 is shaping up to be a spring market worth watching closely. Three things will determine how it unfolds.

New listings are the critical variable. The 20% collapse in new listings in February has set up a tighter inventory environment heading into spring. If sellers continue to hold back — or if the jump in spring listings is smaller than usual — supply constraints will begin to put a meaningful floor under prices, particularly in the single family segment.

Buyer confidence is the demand variable. The affordability improvement is real — Hamilton homes are more accessible to qualified buyers now than they have been in years. Whether buyers act on that improved affordability in spring 2026 depends largely on their confidence in the economic outlook and rate direction. Any positive movement on fixed mortgage rates through March and April would likely bring buyers off the sidelines relatively quickly.

The condo segment’s benchmark price uptick in February is an early signal worth monitoring. If apartment benchmark prices continue to recover in March and April, it would suggest the deepest part of the condo correction may be behind us — which would be significant for first-time buyers and investors who have been waiting out the segment’s weakness.

Frank Lombardo covers Hamilton, Ancaster, Stoney Creek, Burlington and the surrounding area. If you have questions about what February’s numbers mean for your specific neighbourhood or situation, reach out directly.

Call or text: 905-730-2747