Demand for MLS® listed homes remains subdued in February; Overall inventory stays above long term historical norms
Residential sales activity reported through the MLS® Systems of real estate boards in Ontario numbered 9,425 units in February 2026. This decreased by 8.1% from February 2025.
Home sales were 26.9% below the five-year average and 35.5% below the 10-year average for the month of February.
On a year-to-date basis, home sales totalled 17,141 units over the first two months of the year. This was a decrease of 11.8% from the same period in 2025.
Nationally, home sales activity posted a decrease of 8.1% from year-ago levels in February 2026.
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 $746,900 in February 2026, falling by 6.7% compared to February 2025.
The benchmark price for single-family homes was $829,100, a decline of 6.3% on a year-over-year basis in February. By comparison, the benchmark price for townhouse/row units was $594,300, down by 8.1% compared to a year earlier, while the benchmark apartment price was $496,200, a decrease of 8.8% from year-ago levels.
The average price of resale residential homes sold across the province in February 2026 was $802,601, down by 5.2% from February 2025.
The more comprehensive year-to-date average price was $791,598, a decrease of 5.7% from the first two months of 2025.
The national average price, by comparison, was edging down 0.2% on a year-over-year basis to $663,828 in February 2026.
The number of new listings on MLS® Systems of real estate boards in Ontario fell by 11.6% from February 2025. There were 24,145 new residential listings in February 2026.
New listings were 4.4% below the five-year average and 2.8% below the 10-year average for the month of February.
Active residential listings numbered 49,884 units on the market at the end of February, a modest gain of 2.2% from the end of February 2025. Active listings haven’t been this high in the month of February in more than a decade.
Active listings were 40.6% above the five-year average and 54.8% above the 10-year average for the month of February.
Months of inventory numbered 5.3 at the end of February 2026, up from the 4.8 months recorded at the end of February 2025 and above the long-run average of 2.6 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.
The dollar value of all home sales in the province in February 2026 was $7.6 billion, a big reduction of 12.9% from the same month in 2025.
| Ontario Monthly Summary | ||||
|---|---|---|---|---|
| February 2026 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Central1 | 4,141 | -6.2 | $1,019,988 | -7.1 |
| Eastern2 | 1,232 | -7.4 | $608,756 | -1.1 |
| Northeastern3 | 923 | -7.3 | $674,024 | -8.2 |
| Northern4 | 404 | -8.8 | $406,353 | 1.9 |
| Southern5 | 1,581 | -7.5 | $733,144 | -2.5 |
| Western6 | 1,144 | -15.9 | $564,131 | -6.2 |
| Ontario | 9,425 | -8.1 | $802,601 | -5.2 |
| Ontario Year-To-Date Summary | ||||
|---|---|---|---|---|
| YTD 2026 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Central1 | 7,435 | -12.5 | $1,005,606 | -6.5 |
| Eastern2 | 2,197 | -8.2 | $605,312 | -1.4 |
| Northeastern3 | 1,707 | -12.0 | $682,418 | -7.2 |
| Northern4 | 766 | -11.5 | $386,514 | 1.6 |
| Southern5 | 2,872 | -10.8 | $725,231 | -4.2 |
| Western6 | 2,164 | -13.6 | $563,036 | -5.6 |
| Ontario | 17,141 | -11.8 | $791,598 | -5.7 |
1 Oakville-Milton, Greater Toronto
2 Cornwall, Kingston and Area, Ottawa, Renfrew County, Rideau-St. Lawrence
3 Bancroft & District, Barrie & District, Kawartha Lakes, Lakelands, Northumberland Hills, Peterborough and the Kawarthas, Quinte & District
4 North Bay, Saul Ste. Marie, Sudbury, Thunder Bay, Timmins, Cochrane & Timiskaming Districts
5 Brantford Region, Guelph & District, Hamilton-Burlington, Kitchener-Waterloo, Niagara Region, Simcoe, and Cambridge
6 Chatham-Kent, Grey Bruce Owen Sound, Huron Perth, London & St. Thomas, Sarnia-Lambton, Windsor-Essex, Woodstock-Ingersoll-Tillsonburg
BOARD & ASSOCIATION INFORMATION
The Ontario Real Estate Association represents nearly 100,000 brokers and salespeople who are members of the 29 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of support services, educational programs, advocacy, standard forms, and other offerings.
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JeanAdrienD@orea.com
Cathy Polan
