Ontario Housing Market Report

Average Home Prices in Ontario for April 2025

Historical Average Home Prices in Ontario

View Home Listings in Ontario

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The average home price in the GTA in April 2025 was $1,107,463, down 4.2% year-over-year and up 1.3% monthly. The City of Toronto’s average home price is $1,144,977, down 0.6% year-over-year.

Suburban areas such as Mississauga and Brampton are experiencing larger year-over-year price declines, with Mississauga average home prices down 11.7% year-over-year to $993,959. On a monthly basis, Mississauga home prices are down 5.0% compared to March 2025. Similarly, the average Brampton home price is down 8.0% year-over-year to $944,297, down 1.0% monthly. However, over in Oshawa’s housing market, average home prices are down just 1.5% year-over-year to $796,574.

Vaughan home prices are up 3.7% year-over-year to $1,327,790, Markham home prices are down 8.7% year-over-year to $1,239,967, and Richmond Hill home prices are down a whopping 12.2% year-over-year to $1,302,226, although it has increased 7.2% monthly.

Ottawa's housing market had an average home price of $707,180, up 0.3% year-over-year. Ottawa’s benchmark home price has also increased year-over-year, up 1.1% to $631,200. Ottawa’s robust job market, particularly in the public sector, and high quality of life make it an attractive destination for Ontario homebuyers.

The average home price in Hamilton is $791,384, down 3.3% year-over-year. Niagara North had an average home price of $844,563, up 1.9% year over year, while Burlington saw prices increase 2.4% year-over-year to $1,178,724. These regions are popular among young families and retirees looking for a balance between urban amenities and a quieter lifestyle.

Kitchener-Waterloo and London have seen significant growth in the past few years, with their tech sectors attracting young professionals, although home price growth is slowing. The average home price in the Kitchener-Waterloo Region is now $789,639, down 1.3% year-over-year. In London’s housing market, the average home price is $654,147, down 0.3% year-over-year. These regions are attractive for both first-time buyers and investors.

Central Ontario remains the most expensive region in Ontario, with an average home price of $1,121,010, though it is now experiencing a 4.5% annual decline. This region, anchored by Toronto, continues to face severe affordability challenges, even as prices have softened further since 2022.

Southern Ontario, which includes Hamilton, shows a more moderate decline of 1.7%, with average prices settling at $784,457. This area has long been a popular alternative for those priced out of Toronto.

Northeastern Ontario is experiencing one of the sharpest price drops at 6.2% year-over-year, bringing the average home price down to $719,717. In contrast, Eastern Ontario, which includes Ottawa, is showing some resilience as prices have dipped 0.7% to $646,652. Ottawa’s large public sector presence continues to offer some price stability despite broader provincial softness.

Western Ontario, which includes London, has experienced a modest decline of 1.5%, with average prices at $606,784. This region has historically provided relatively strong value compared to the Greater Toronto Area. Meanwhile, Northern Ontario remains the most affordable region, with prices averaging $416,420 after a 0.7% decrease, reflecting relative price stability in markets like Sudbury compared to the GTA.

The defining feature of Ontario's current housing market is the extraordinary level of available inventory. At the end of April 2025, active listings reached approximately 66,952 units - the highest April level in over a decade and 53% above the 10-year average for April.

The 4.7 months of inventory in April 2025 is up significantly from the level seen in April 2024 (2.9 months) and well above the long-run average of 2.4 months for this time of year. This inventory surge is occurring despite new listings being quite close to historical averages, indicating that properties are sitting on the market much longer as sales have plummeted. April 2025 sales were 30.7% below the 10-year average and showed the largest year-over-year decline (-20.2%) of any province this month.

Despite multiple interest rate cuts from the Bank of Canada between June 2024 and March 2025, Ontario's market has failed to respond positively, unlike many other provinces. Many of Ontario’s major cities, particularly around the GTHA, are in buyer's market territory, while many other provinces are in seller's markets with ratios above 60%. Unaffordability and economic uncertainty, particularly related to tariff concerns, appear to weigh heavily on buyer confidence in Ontario's markets.