Ontario Housing Market Report
- Greater Toronto Area's average home price decreasedby 6.0% year-over-year to$1,039,458.
- City of Toronto's average home price decreasedby 4.1% year-over-year to$1,036,362.
- Ottawa's average home price increasedby 2.5% year-over-year to$683,783.
- Mississauga's average home price decreasedby 2.8% year-over-year to$966,621.
- Brampton's average home price decreasedby 10% year-over-year to$914,161.
- Hamilton's average home price decreasedby 5.2% year-over-year to$746,377.
- January 4, 2026 Update: Today’s Lowest mortgage rate in Ontario is 3.54% for 5-Year Variable.
Average Home Prices in Ontario for November 2025
Historical Average Home Prices in Ontario
Ontario Average House Prices by City
Ontario Housing Market as of November 2025
Ontario’s housing market kept cooling further year-over-year in November 2025 as rising supply continued to reshape conditions across the province. There were 12,087 home sales in Ontario for the month, a 13% decline from a year earlier. Sales activity sat 21% below the ten-year average for the month of November, reflecting a market that is still adjusting to higher inventory and slower demand.
Active listings are the dominant story for November 2025. There were 62,868 active listings at the end of November 2025, the highest in more than 15 years for the month of November. That’s 55% higher than the ten-year average for November.
24,606 homes were brought to market in November 2025, representing a 2.1% year-over-year decrease. With supply building, months of inventory reached 5.2, well above the long-run November average of 2.9 months and another sign that bargaining power continues to shift toward buyers.
The average Ontario home sold for $819,356 in November 2025, down 5.6% from last year. The year-to-date average came in at $837,920, a modest 3.8% decrease from the same period in 2024. Nationally, Canada’s housing market saw prices ease 1.8% year-over-year to $682,219. Ontario’s 5.6% year-over-year decline is the largest amongst all provinces for the month of November 2025.
Dollar-volume data underscored the slowdown. The total value of homes sold in Ontario reached $9.9 billion in November 2025, falling 18% from last year. For now, the Ontario housing market continues to absorb an influx of supply as buyers take more time and sellers adjust expectations heading into the winter season.
Regional Insights
Greater Toronto Area (GTA)
The average home price in the GTA in November 2025 was $1,039,458, down 6.0% year-over-year and down 1.4% monthly. The City of Toronto’s average home price is $1,036,362, down 4.1% year-over-year.
Some suburban areas, such as Mississauga and Brampton, are experiencing larger year-over-year price declines, with Brampton home price down 10% year-over-year to $914,161. Similarly, the average Oakville home price is down 10.8% year-over-year, and Richmond Hill home prices are down close to 16% year-over-year. Mississauga average home prices are down only 2.8% year-over-year.
Ottawa
Ottawa's housing market had an average home price of $683,783, up 2.5% year-over-year and down 3.6% month-over-month. Ottawa’s benchmark home price has also increased year-over-year, up 0.9% to $620,400. 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 now $734,928 in October 2025, down 5.7% year-over-year. In London’s housing market, the average home price is $604,994 for November 2025, down 5.5% year-over-year. That’s the lowest since January 2023.
Key Points
Price Trends
Central Ontario remained the most expensive region in Ontario with an average price of $1,051,711. Prices fell 6.2% year-over-year in Central Ontario as the GTA continued to adjust to higher listings and slower demand.
Southern Ontario, which includes Hamilton and Niagara, recorded an average price of $717,344, down 6.4% from last year. The region has long served buyers priced out of Toronto, although affordability remains stretched compared with earlier in the decade.
Northeastern Ontario posted an average price of $725,856, a small 2.0% decline compared with last November. The market has softened, but the adjustment has been more moderate than in Central Ontario.
Eastern Ontario posted the only annual increase in the province. The regional average of $620,540 represented a 0.9% gain year-over-year, supported by steady demand in Ottawa and surrounding communities.
Western Ontario recorded an average price of $564,151, down 7.3% year-over-year. The region remains more affordable than markets around Toronto, and price movements have been comparatively stable. Northern Ontario remained the most affordable part of the province, with an average price of $394,088, a 1.1% decrease year-over-year.
Ontario Regional Average Home Prices for November 2025
| Region | Average Home Price | Annual Change | Largest City |
|---|---|---|---|
| Central Ontario | $1,051,711 | -6.2% | Toronto |
| Southern Ontario | $717,344 | -6.4% | Hamilton |
| Northeastern Ontario | $725,856 | -2.0% | Barrie |
| Eastern Ontario | $620,540 | +0.9% | Ottawa |
| Western Ontario | $564,151 | -7.3% | London |
| Northern Ontario | $394,088 | -1.1% | 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 (November 2025) | Population (2021) |
|---|---|---|
| Toronto | $1,036,362 -4.1% vs. 2024 | 2,794,356 2.3% vs. 2016 |
| Ottawa | $683,783 2.5% vs. 2024 | 1,017,449 8.9% vs. 2016 |
| Hamilton | $746,377 -5.2% vs. 2024 | 569,353 6.0% vs. 2016 |
| Mississauga | $966,621 -2.8% vs. 2024 | 717,961 -0.5% vs. 2016 |
| Brampton | $914,161 -10.0% vs. 2024 | 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
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.