Ontario Housing Market Report
- Greater Toronto Area's average home price decreasedby 7.0% year-over-year to$1,008,968.
- City of Toronto's average home price decreasedby 6.2% year-over-year to$1,019,144.
- Ottawa's average home price decreasedby 1.1% year-over-year to$662,773.
- Mississauga's average home price decreasedby 7.3% year-over-year to$963,747.
- Brampton's average home price decreasedby 8.7% year-over-year to$887,457.
- Hamilton's average home price decreasedby 6.1% year-over-year to$718,545.
Average Home Prices in Ontario for February 2026
Historical Average Home Prices in Ontario
Ontario Average House Prices by City
Ontario Housing Market as of February 2026
Ontario’s housing market strengthened somewhat in February 2026, with the average home price rising to $802,601, up 3.1% from January 2026, though still 5.2% lower than a year earlier. Nationally, Canada’s average home price edged up to $663,828 in February 2026, up 1.7% monthly but down 0.2% year-over-year.
There were 9,425 home sales in Ontario in February 2026, up 21.8% from January 2026 but still 8.1% below the level from a year earlier. The rebound in sales suggests a pickup in activity from the unusually weak January 2026, although Ontario’s housing market remained softer than last year overall.
The total value of homes sold in Ontario was about $7.6 billion in February 2026, up from January 2026 but still below year-ago levels, reflecting a market that recovered on a monthly basis while remaining weaker on an annual basis.
Regional Insights
Greater Toronto Area (GTA)
The average home price in the GTA in February 2026 was $1,008,968, down 7.0% year-over-year and up 3.7% monthly. The City of Toronto’s average home price is $1,019,144, down 6.2% year-over-year.
Some suburban areas, such as Mississauga and Brampton, are experiencing larger year-over-year price declines, with Brampton's average home price down 8.7% year-over-year to $887,457. Similarly, Markham home prices are are down 11.8% year-over-year. Mississauga average home prices are down 7.3% year-over-year. Hamilton’s housing market in February 2026 saw prices decline 6.1% year-over-year to $718,545.
Ottawa
Ottawa's housing market had an average home price of $662,773, down 1.1% year-over-year and up 3.3% month-over-month. On the other hand, Ottawa’s benchmark home price is down 1.3% year-over-year, up 1.4% month-over-month to $615,400. Ottawa’s robust job market, particularly in the public sector, and high quality of life make it an attractive destination for Ontario homebuyers.
Kitchener-Waterloo and London
Kitchener-Waterloo and London have seen significant growth in the past few years, with their tech sectors attracting young professionals, although home price growth has slowed. The average home price in the Kitchener-Waterloo-Cambridge Region is $725,310 in February 2026, down 5.5% year-over-year. In London’s housing market, the average home price is $622,414 for February 2026, down 3.9% year-over-year.
Key Points
Price Trends
Central Ontario remained the most expensive region in Ontario in February 2026, with an average home price of $1,019,988. Prices were down 7.1% year-over-year, reflecting continued adjustment in and around the GTA as buyers contend with higher supply and more cautious demand.
Southern Ontario, which includes Hamilton, recorded an average price of $733,144, down 2.5% from a year earlier. While the region has long attracted buyers priced out of Toronto, affordability pressures and elevated borrowing costs have continued to limit stronger price growth.
Northeastern Ontario posted an average price of $674,024, an 8.2% decline year-over-year. Eastern Ontario also softened, with an average price of $608,756, down 1.1% from last year, suggesting relatively subdued market conditions in and around Ottawa.
Western Ontario recorded an average price of $564,131, down 6.2% year-over-year, continuing to offer relatively more affordable options than markets closer to Toronto. Northern Ontario remained the most affordable region in the province at $406,353 and was the only region to post an annual increase, up 1.9% year-over-year.
Ontario Regional Average Home Prices for February 2026
| Region | Average Home Price | Annual Change | Largest City |
|---|---|---|---|
| Central Ontario | $1,019,988 | -7.1% | Toronto |
| Southern Ontario | $733,144 | -2.5% | Hamilton |
| Northeastern Ontario | $674,024 | -8.2% | Barrie |
| Eastern Ontario | $608,756 | -1.1% | Ottawa |
| Western Ontario | $564,131 | -6.2% | London |
| Northern Ontario | $406,353 | +1.9% | Sudbury |
Interest Rates
Despite multiple interest rate cuts from the Bank of Canada between June 2024 and October 2025, Ontario's market has failed to respond positively, unlike many other provinces. Unaffordability and economic uncertainty, particularly related to tariff concerns, appear to weigh heavily on buyer confidence in Ontario's markets.
Housing Markets of Major Cities in Ontario
| City | Average Home Prices (February 2026) | Population (2021) |
|---|---|---|
| Toronto | $1,019,144 -6.2% vs. 2025 | 2,794,356 2.3% vs. 2016 |
| Ottawa | $662,773 -1.1% vs. 2025 | 1,017,449 8.9% vs. 2016 |
| Hamilton | $718,545 -6.1% vs. 2025 | 569,353 6.0% vs. 2016 |
| Mississauga | $963,747 -7.3% vs. 2025 | 717,961 -0.5% vs. 2016 |
| Brampton | $887,457 -8.7% vs. 2025 | 656,480 10.6% vs. 2016 |
Ontario’s Housing Market Forecast: Things to Watch
| Negative Impact | Positive Impact |
|---|---|
| Higher Interest Rates | Higher Immigration Levels |
| Government Policies: | Housing Inventory Shortage |
| Mortgage Stress Test Changes | Stronger Economic Recovery |
| Vacancy Tax and Foreign Speculation Tax | |
| Foreign Buyer’s Ban | |
| Zoning and Increased Supply of Housing | |
| Rent Control |
Housing Markets Across Canada
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