Ontario’s housing market showed signs of stabilization in March 2026, with the average home price at $811,868 — down 4.8% year-over-year but improved from January’s 6.4% annual decline. Sales of 12,424 were essentially flat year-over-year (-0.2%), while months of supply tightened to 4.6 from 6.0 in January. The SNLR of 36.3% remains below balanced thresholds, but rising mortgage rates and economic uncertainty have slowed new listings, bringing the market closer to equilibrium.
Key statistics (March 2026)
| Metric | Value | Year-over-Year |
|---|---|---|
| Average Home Price | $811,868 | -4.8% |
| Benchmark Price | $749,200 | -6.5% |
| Total Sales | 12,424 | -0.2% |
| New Listings | 34,199 | -8.9% |
| Active Listings | 56,657 | -2.4% |
| Months of Supply | 4.6 | N/A |
| Sales-to-New-Listings Ratio | 36.3% | N/A |
| Market Condition | Balanced to Buyer’s | N/A |
Benchmark prices by property type
| Property Type | Benchmark Price | YoY Change |
|---|---|---|
| Single-Family | $831,200 | -6.2% |
| Townhouse | $596,800 | -7.5% |
| Apartment | $496,900 | -8.9% |
Average home prices by city
| City / Area | See Report |
|---|---|
| GTA (TRREB) | Toronto Housing Market |
| Hamilton | Hamilton Housing Market |
| Ottawa | Ottawa Housing Market |
| KW Area | Waterloo Region Housing Market |
| London | London Housing Market |
| Barrie | Barrie Housing Market |
| Niagara | Niagara Housing Market |
Market conditions
Ontario is in a balanced to buyer’s market as of March 2026. Months of supply tightened to 4.6 — within the balanced range of 4–6 months — an improvement from January’s 6.0 months. However, the sales-to-new-listings ratio of 36.3% remains below the 40% threshold that typically signals balanced conditions, and rising mortgage rates continue to weigh on buyer confidence.
The benchmark price of $749,200 is down 6.5% year-over-year, with the steepest declines in apartments (-8.9%) and townhouses (-7.5%). Single-family homes have held up slightly better at -6.2%. Sales were essentially flat year-over-year at 12,424 — a significant improvement from January’s 15.6% decline — while new listings fell 8.9%, suggesting that sellers are pulling back amid the uncertain economic environment. Active listings of 56,657 are 24.1% below the five-year average and 36.7% below the ten-year average.
Regional analysis
The Greater Toronto Area remains Ontario’s most expensive market, though many GTA municipalities continue to see year-over-year declines. Brampton and Mississauga — GTA suburbs that saw the most aggressive pandemic-era gains — remain among the hardest hit. See the individual city reports linked above for the latest data.
Central Ontario continues to face the steepest corrections, driven by reversals in pandemic-era migration patterns. Eastern Ontario, anchored by Ottawa, has been more resilient with smaller year-over-year declines. Northern Ontario remains the most affordable region in the province and has bucked the trend with modest positive growth in recent months.
Within the benchmark data, apartments are seeing the steepest correction at -8.9% year-over-year, reflecting elevated condo inventory levels in the GTA. Townhouses are also under pressure at -7.5%. Single-family detached homes, while still down 6.2%, are holding up better due to limited supply in desirable urban and suburban locations.
Key trends
- Stabilizing sales activity — March sales of 12,424 were essentially flat year-over-year (-0.2%), a significant improvement from the 15.6% decline in January, though still 24.1% below the five-year average.
- Supply tightening — Months of supply improved to 4.6 from 6.0 in January, as new listings fell 8.9% and active listings dropped 2.4% year-over-year.
- Apartments hardest hit — The apartment benchmark is down 8.9% year-over-year, the steepest decline among property types, reflecting elevated condo inventory in the GTA.
- Price decline moderating — The average price decline of -4.8% is less steep than January’s -6.4%, suggesting the pace of correction may be easing.
- Rising mortgage rates a headwind — Mid-March increases in fixed mortgage rates, driven by rising global bond yields, added to buyer uncertainty and may slow the spring market recovery.
Housing affordability
At an average price of $811,868, Ontario homes require a household income of roughly $176,000 with a 20% down payment — above the provincial median income. In the GTA, the income threshold is even higher at well over $200,000 for the average home.
More affordable options exist in Northern Ontario, where the income required drops to approximately $90,000, and in Western and Eastern Ontario, where roughly $130,000–$140,000 is needed. See individual city reports below for specific affordability calculations.
Use our mortgage affordability calculator to see how much you can afford, or try the income to afford home calculator to find the salary needed at Ontario price levels.
Useful calculators
- Mortgage Calculator
- Mortgage Affordability Calculator
- Income to Afford Home Calculator
- Land Transfer Tax Calculator
- Closing Costs Calculator
- Mortgage Rates
- First-Time Home Buyer Guide
Ontario city housing reports
- Toronto Housing Market — GTA prices, sales, and market conditions
- Mississauga Housing Market — Peel Region’s largest city, March 2026 data
- Brampton Housing Market — Peel Region detached and semi-detached trends
- Markham Housing Market — York Region tech hub market data
- Oshawa Housing Market — Durham Region market data and GTA East trends
- Hamilton Housing Market — Golden Horseshoe market data
- Waterloo Region Housing Market — KW tech hub market data
- Guelph Housing Market — Royal City prices and affordability
- Barrie Housing Market — Simcoe County and GO Train commuter market
- Niagara Region Housing Market — St. Catharines, Niagara Falls, and Welland
- Ottawa Housing Market — Capital city housing trends
- London Housing Market — Southwestern Ontario housing trends
- Canada Housing Market Overview — National trends and provincial comparisons
Data Sources
The housing market data in this report is sourced from:
- Ontario Real Estate Association (OREA)
- Toronto Regional Real Estate Board (TRREB) — Market Watch Reports
- Ottawa Real Estate Board (OREB)
- Cornerstone Association of REALTORS (CAAR) — Waterloo Region, Guelph, Cambridge
- Barrie & District Association of REALTORS (BDAR)
- Niagara Association of REALTORS (NAR)
- Canadian Real Estate Association (CREA) — National MLS® Statistics