Ontario’s housing market just recorded its slowest August for home sales in a quarter century.
Only 13,620 homes changed hands across Ontario in August 2026, according to the latest statistics from the Canadian Real Estate Association and Ontario Real Estate Association.
That was a 6% decline compared with August 2025 and the lowest number of home sales recorded in the province during the month of August in 25 years. (CREA Stats)
And compared with what would normally be expected at this time of year, activity looks even weaker.
Home sales were 22.6% below the 10-year average for August.
At the same time, Ontario still has significantly more homes sitting on the market than it typically would.
Ontario Home Sales Are More Than 20% Below Normal
Ontario’s 13,620 residential sales in August were also 4% below the five-year average and 22.6% below the longer-term 10-year average for the month. (CREA Stats)
So far this year, 109,456 homes have sold across Ontario, down 2.4% compared with the first eight months of 2025. (Creastats)
The slowdown wasn’t limited to Ontario.
Across Canada, actual home sales were 6.9% lower than August 2025, while national sales also edged down 0.7% from July on a seasonally adjusted basis. (CREA Stats)
However, Ontario’s August sales total stands out because it was the province’s lowest for that month in 25 years.
More Than 70,000 Homes Are Currently For Sale In Ontario
While sales remain unusually low, buyers still have far more properties to choose from than they typically would.
There were 70,483 active residential listings across Ontario at the end of August. (CREA Stats)
That’s actually 3.9% fewer listings than there were at the same time last year, but inventory remains extremely elevated compared with historical norms.
Active listings were:
- 20.4% above the five-year average
- 41.5% above the 10-year average
Ontario also had 5.2 months of inventory at the end of August, compared with the long-run average of just 3.1 months for this time of year. (Creastats)
Months of inventory estimates how long it would take to sell the homes currently listed if properties continued selling at the present pace and no new listings were added.
The combination of lower sales and elevated inventory means buyers in many parts of the province currently have considerably more choice than they did during the much tighter markets seen earlier in the decade.
Ontario Home Prices Are Also Lower Than Last Year
The slowdown in sales has been accompanied by lower prices.
Ontario’s MLS® Home Price Index composite benchmark price was $745,400 in August, down 3.6% compared with August 2025. (CREA Stats)
The average resale home sold for $788,835, down 1.7% from one year earlier.
Different property types saw different declines.
The benchmark price of a single-family home was $826,900, down 3.4% year over year.
Townhouse and row homes had a benchmark price of $585,000, down 5.6%.
Apartments saw the largest percentage decline, with the benchmark price dropping 6.4% to $489,200. (Creastats)
Fewer New Homes Are Hitting The Market Too
One thing that could eventually reduce Ontario’s elevated supply is a slowdown in new listings.
There were 31,024 new residential listings added to Ontario MLS® systems in August, down 8.1% from August 2025. (CREA Stats)
Despite that decline, new listings remained close to historical norms, sitting 0.3% above the five-year average and 1.9% above the 10-year average for August.
The total dollar value of residential real estate sold across Ontario during the month was $10.7 billion, down 7.7% compared with August 2025. (Creastats)
Canada’s Fall Housing Market Is Starting With More Uncertainty
The latest Ontario numbers arrive as the national housing market also appears to have lost some momentum heading into the fall.
CREA reported that Canadian home sales dipped 0.7% between July and August, while newly listed properties increased 3.3% nationally. (CREA Stats)
CREA senior economist Shaun Cathcart also pointed to a changing economic environment, including inflation concerns, higher bond yields affecting fixed mortgage rates and renewed uncertainty surrounding future interest rates. (CREA Stats)
That creates an interesting setup for Ontario heading into the final months of 2026.
There are still more than 70,000 properties available across the province, inventory remains well above historical averages and prices are lower than they were a year ago.
But with fewer new listings entering the market, the amount of choice available to buyers could begin to change if sales activity picks back up.
For now, though, August’s numbers show just how quiet Ontario’s housing market has become.
13,620 sales was enough to make August 2026 the slowest August for Ontario home sales in 25 years.
Canada Housing Market 
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