Sold! How a hot real estate market is changing Hamilton

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First of CBC Hamilton’s four-part series on the city’s housing market

By Samantha Craggs, CBC News

For seven years, 446 Dundurn St. S. didn’t get much love.

It’s a large brick house built in the early 1960s, a former duplex in the Kirkendall neighbourhood. It went on the market a couple of times in the past decade, sometimes for as low as $105,000. And still, no one bit.

Last year, developer Greg Hart bought it for around $200,000. Today, the house that sat vacant for seven years is expected to go for about $600,000.

Such is the strength of Hamilton’s booming real estate market. Ten years ago, houses in this quiet neighbourhood near trendy Locke Street sold for an average of $186,267. Today, the average sale price has nearly tripled to $317,089.

Hart probably wouldn’t even have bought the Dundurn place 10 years ago, he said, let alone put five months of renovation work into flipping it. But times have changed.

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Article and image source: CBC Hamilton

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