Ontario Housing Market Report

Average Home Prices in Ontario for June 2025

Historical Average Home Prices in Ontario

View Home Listings in Ontario

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The average home price in the GTA in June 2025 was $1,101,691, down 5.2% year-over-year and down 1.7% monthly. The City of Toronto’s average home price is $1,132,709, down 3.5% year-over-year.

Some suburban areas, such as Mississauga and Brampton, are experiencing larger year-over-year price declines, with Mississauga average home prices down 7.6% year-over-year to $1,019,578. Similarly, the average Brampton home price is down 5.5% year-over-year to $954,523. Vaughan home prices are down 12.9% year-over-year while Richmond Hill home prices are down 11.9% year-over-year.

Out west, Burlington home prices are down 3% annually, while Oakville home prices are down 2.3% annually.

Ottawa's housing market had an average home price of $723,152, up 5.3% year-over-year and down 0.8% month-over-month. It’s the second-highest it has been in over 3 years, ever since it dipped below $740,000 in April 2022. Ottawa’s benchmark home price has also increased year-over-year, up 1.6% to $634,300. 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 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-Cambridge Region is now $780,293, down 1.3% year-over-year. In London’s housing market, the average home price is $650,501, down 4.2% year-over-year. These regions are attractive for both first-time buyers and investors.

Central Ontario remains the most expensive region in the province, with an average home price of $1,112,837 in June 2025, down 5.1% year-over-year, marking the steepest annual price decline among Ontario’s housing regions for June 2025. Anchored by Toronto, the region continues to grapple with significant affordability challenges, despite further price softening since the market peak in 2022.

Southern Ontario, which includes Hamilton, shows a more moderate decline of 1.4%, with average prices settling at $793,293. This area has long been a popular alternative for those priced out of Toronto.

Northeastern Ontario home prices are down 3.1% year-over-year, bringing the average home price to $769,280. In contrast, Eastern Ontario, which includes Ottawa, is showing some resilience as prices have instead increased 3.5% to $667,391, up from $646,652 in April 2025 and $664,748 in May 2025. 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 0.9%, with average prices at $610,927. Western and Eastern Ontario are the only regions in the province to see a monthly increase in their average home price compared to May 2025. Western Ontario has historically provided relatively strong value compared to the Greater Toronto Area. Meanwhile, Northern Ontario remains the most affordable region, with prices averaging $424,190 after a 0.6% annual increase, 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 June 2025, active listings reached approximately 78,605 units - the highest June level in over a decade and 47% above the 10-year average for June.

The 4.6 months of inventory in June 2025 are up from the level seen in June 2024 (4.0 months) and well above the long-run average of 2.6 months for the month of June. In comparison, the months of inventory in June 2017 were less than half of the current 4.6 months of inventory in June 2025. This inventory surge is occurring as new listings for the month of June reached their highest level ever.

June 2025 Ontario home sales were 22.3% below the 10-year average, yet are now up 1.1% year-over-year to 16,961 homes sold in June 2025.

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 Canadian provinces are in seller's markets with sales-to-new-listings ratios above 60%. Unaffordability and economic uncertainty, particularly related to tariff concerns, appear to weigh heavily on buyer confidence in Ontario's markets.