Oshawa Housing Market Report

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Market Report Summary for February 2023
Updated March 10th, 2023
  • The average home price in Oshawa was $767,034 for February 2023, which is a 30% decrease year-over-year, and a 1.1% decrease month-over-month.
  • Detached home average price decreased by 30% year-over-year to $849k.
  • Semi-detached home average price decreased by 28% year-over-year to $689k.

Oshawa Housing Market Overview

Data for February 2023
Avg. Sold Price:$767,034
All Property Types:$767,034
Condo Townhouse:$613,576
Transactions (Buy/Sell):168
All Property Types:168
Condo Townhouse:15
Best 5-Year Fixed Mortgage Rates in Oshawa
Mortgage Term:

Oshawa’s housing market is seeing little support in prices even as some housing markets like the Mississauga housing market celebrates a pause in rising interest rates by the Bank of Canada after a turbulent 2022. The average price of a home in Oshawa in February 2023 was $767,034, down 1.1% compared to last month.

There has been a significant price swing due to the decline in prices last year. This means that Oshawa home prices are down 30% year-over-year, compared to an all-time high in February 2022 when the average home price was $1,099,738. Prices have come down since then. The price decline is seen not just in Oshawa but across the GTA. That’s mainly due to higher borrowing costs (interest rates) as mortgage rates soar.

Another sign that Oshawa’s housing market is slowing is the slump in sales activity this month compared to last year. There were 168 home sales in February 2023, a 49% decrease from 329 in February 2022. As Oshawa’s housing market slows, sales activity and home prices are falling.

Looking at property types, the average price of a detached home in Oshawa was $848,774 in February 2023. That's 30% lower than last February and 1.3% higher month-over-month (MoM). 108 detached home sales in Oshawa are also down by 53% year-over-year (YoY). For semi-detached homes, the average price in Oshawa was $688,500, a 28% YoY and 3.5% MoM decrease. 24 semi-detached home sales are the same as last February.

$809,714 was the average price of a freehold townhouse for February 2023, down 21% compared to last year. Meanwhile, condo townhouse prices are down 21% YoY and up 2.3% MoM to $613,576. Condo apartments’ average price of $414,179 is 15% lower than February 2022's average price. With only 14 condo apartments sold in February 2023, this average price change does not represent the broader market.

Oshawa home prices remain in line with Ontario home prices and are still more affordable than other cities in the GTA. As lower productivity and a robust job market might keep Canada's inflation rate high, interest rates might rise further. It remains to be seen how Oshawa's housing market will compare with the rest of the region in the coming months.

Home Prices in Oshawa

Oshawa Housing Market Statistics for All Property Types

Data for February 2023

Average Sold Price

Total Transactions

Property Type Distribution

Condo Apartments

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Oshawa Housing Market Overview for Detached Homes

Data for February 2023

Average Sold Price


Oshawa Housing Market Overview for Semi-Detached Homes

Data for February 2023

Average Sold Price


Oshawa Housing Market Overview for Townhouses

Data for February 2023

Average Sold Price


Oshawa Housing Market Overview for Condo Apartments

Data for February 2023

Average Sold Price


Greater Toronto Area (GTA) Breakdown by Region

Data for February 2023

Glossary and Definitions

MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.

MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.

Strata Insurance: Strata insurance is insurance used by a strata like a condominium to covers damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:

  • Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
  • Liability for any property damage or bodily injury suffered on strata property
  • Any fixtures that are part of the "standard unit" or original construction of each unit

Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.

Property types

Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.

Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.

Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.

Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.

Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.

Property Classes

Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.

Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.

Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owner of the buildings has leased the land and pay rent to their landlord while owning the building on the land.

Housing Markets Across Canada

Data sourced from the Toronto Regional Real Estate Board (TRREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.