Ontario MLS® home sales continue to fall as listings surge in May
Residential sales activity reported through the MLS® Systems of real estate boards in Ontario numbered 17,242 units in May 2025. This was a moderate decrease of 6.7% from May 2024.
Home sales were 20.4% below the five-year average and 23.5% below the 10-year average for the month of May.
On a year-to-date basis, home sales totalled 63,191 units over the first five months of the year. This was a substantial decline of 16.6% from the same period in 2024.
Nationally, home sales activity decreased by 4.3% from year-ago levels in May 2025.
The average price of resale residential homes sold across the province in May 2025 was $861,719, a modest decline of 3.6% from May 2024.
The more comprehensive year-to-date average price was $851,977, down modestly by 3.5% from the first five months of 2024.
The national average price, by comparison, was down modestly by 1.8% on a year-over-year basis to $691,299 in May 2025.
The number of new listings on MLS® Systems of real estate boards in Ontario saw a sizable gain of 10.4% from May 2024. There were 50,098 new residential listings in May 2025. This was the largest number of new listings added in the month of May in more than five years.
New listings were 12.5% above the five-year average and 17.1% above the 10-year average for the month of May.
Active residential listings numbered 76,068 units on the market at the end of May, increasing by 21.7% from the end of May 2024. Active listings haven’t been this high in the month of May in more than a decade.
Active listings were 53.9% above the five-year average and 49.9% above the 10-year average for the month of May.
Months of inventory numbered 4.4 at the end of May 2025, up from the 3.4 months recorded at the end of May 2024 and above the long-run average of 2.4 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 May 2025 was $14.9 billion, a substantial decrease of 10.1% from the same month in 2024.
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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Jean-Adrien Delicano
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JeanAdrienD@orea.com
Cathy Polan
