The Oakville, Milton and District Real Estate Board

The number of homes sold through the MLS® System of the Oakville-Milton and District Real Estate Board totaled 542 units in May 2026. This was essentially unchanged, down just 0.9% (five sales) from May 2025.

Home sales were 4.4% below the five-year average and 15.1% below the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 1,830 units over the first five months of the year. This was a small reduction of 2.3% from the same period in 2025.

“There’s been quite a bit of volatility with the ups and downs in our monthly trends since the spring of 2022, and at the moment it looks like we’re on the way back up,” said Ryan Mayne, President of the Oakville-Milton and District Real Estate Board. “Sales activity is still trending below average levels for this time of year so we’re not expecting a return to levels from the early aughts anytime soon, but with new listings having pulled back significantly from last year overall supply levels are moving lower from their historically elevated position and our market is edging closer into balanced territory.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $1,060,100 in May 2026, a decrease of 8.4% compared to May 2025.

The benchmark price for single-family homes was $1,273,600, a moderate decrease of 9.2% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $702,800, a substantial decline of 11.1% compared to a year earlier, while the benchmark apartment price was $538,100, a sharp decrease of 11.2% from year-ago levels.

The average price of homes sold in May 2026 was $1,306,591, increasing by 1.5% from May 2025.

The more comprehensive year-to-date average price was $1,257,430, down only 0.3% from the first five months of 2025.

The dollar value of all home sales in May 2026 was $708.2 million, nearly unchanged, up only 0.5% from the same month in 2025.

The number of new listings saw a substantial decrease of 20.9% from May 2025. There were 1,374 new residential listings in May 2026.

New listings were 2.3% below the five-year average and 1.1% below the 10-year average for the month of May.

Active residential listings numbered 2,110 units on the market at the end of May, a large decline of 16.1% from the end of May 2025.

Active listings were 28% above the five-year average and 37.9% above the 10-year average for the month of May.

Months of inventory numbered 3.9 at the end of May 2026, down from the 4.6 months recorded at the end of May 2025 and above the long-run average of 2.5 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.