Ontario Housing Market Outlook 2026

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Ontario’s Inventory Boom: Decade-High Supply Shifts the Power Dynamic for Buyers

According to the Ontario Real Estate Association (OREA) for March 2026, the province remains in buyer-friendly territory, with active listings 35.5% above the five-year average and 49.2% above the 10-year average. Sales activity remains well below historical norms, but the rate of decline improved in March, and a notable pullback in new listings hints that sellers are growing more cautious about entering an already crowded market.

• The average price of resale residential homes across Ontario fell 4.8% year-over-year to $811,868 in March. The year-to-date average sits at $799,750, down 5.3% from the same period last year. For context, the national average posted a much smaller decline of 0.8% over the same stretch, underscoring how Ontario-specific the correction remains.
• New listings declined 8.9% from March 2025, coming in at 34,199, slightly below both the five-year and 10-year averages for the month. Active listings stood at 56,657 at month’s end, down a modest 2.4% year-over-year but still dramatically elevated relative to recent history. Months of inventory sat at 4.6, down marginally from 4.7 a year ago but still double the long-run average of 2.3.
• Total dollar volume across the province fell 5% year-over-year to $10.1 billion. The decline was concentrated in the Greater Golden Horseshoe and Southwestern Ontario, where affordability pressures and economic uncertainty continue to weigh most heavily. Northern and eastern Ontario markets have been comparatively resilient.

More supply means more negotiating power, and Ontario buyers haven’t had this much choice in over a decade. But with new listings now pulling back, this window could narrow faster than expected. Don’t let changes in interest rates keep you from acting on these favourable conditions. Contact a nesto mortgage broker to lock in your ideal fixed-rate mortgage or explore a variable-rate option today.

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Ontario Housing Market Highlights

• The average selling price of a home in Ontario decreased by 6.5% year-over-year to $749,200 in March.
• The average selling price of a single-family home in Ontario decreased by 6.2% year-over-year to $831,200 in March.
• The average selling price of a townhouse/multiplex in Ontario decreased by 7.5% year-over-year to $596,800 in March.
• The average selling price of a condo in Ontario decreased by 8.9% year-over-year to $496,900 in March.
• The average rent in Ontario decreased by 5% year-over-year to $2,238 for March.
• April 17, 2026: Today’s lowest mortgage rate in Ontario is 4.04% for a 5-year fixed.

Data from the Ontario Real Estate Association (OREA) indicates that the average price of resale residential homes sold across Ontario in March was $749,200, and it decreased of 6.5% compared to a year ago.

OREA reported a sales-to-new-listings ratio (SNLR) of 36%, indicating Buyers market conditions in Ontario for March.

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Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

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Ontario Market Rents Snapshot

The average rent in Ontario was $2,238 for March, which decreased by 5% year over year.

The average rent for a 1-bedroom apartment in Ontario was $1,980 for the month of March, which decreased by 5% year over year.

The average rent for a 2-bedroom apartment in Ontario was $2,424 for the month of March, which decreased by 4% year over year.

Rental Price Changes by City

Rank	City	Total Average	1 Bedroom	2 Bedrooms	Year-over-Year Change
1	North Vancouver	$2,971	$2,462	$3,358	−3.3%
2	Vancouver	$2,715	$2,400	$3,355	−2.2%
3	Burnaby	$2,494	$2,115	$2,750	−9.1%
4	North York	$2,488	$2,112	$2,674	−1.3%
5	Coquitlam	$2,478	$2,116	$2,752	−6.1%
6	Etobicoke	$2,476	$2,128	$2,662	−3.4%
7	Toronto	$2,474	$2,188	$2,838	−3.1%
8	Oakville	$2,454	$2,167	$2,557	−16.9%
9	Kanata	$2,396	$2,238	$2,540	−12.7%
10	Mississauga	$2,360	$2,071	$2,453	−5.8%
11	Burlington	$2,346	$2,061	$2,434	−4.5%
12	Langley	$2,303	$1,974	$2,443	−2.2%
13	Vaughan	$2,290	$2,067	$2,592	−0.2%
14	Kingston	$2,286	$1,925	$2,430	19.6%
15	Scarborough	$2,281	$1,884	$2,378	−5.7%
16	Victoria	$2,255	$1,975	$2,584	−4.3%
17	East York	$2,245	$1,866	$2,536	−4.7%
18	Brampton	$2,239	$1,942	$2,304	1.3%
19	Halifax	$2,235	$2,026	$2,563	0.2%
20	Waterloo	$2,229	$2,066	$2,300	−6.1%
21	Guelph	$2,189	$1,924	$2,248	−8.4%
22	Hamilton	$2,170	$1,853	$2,396	14.3%
23	Ajax	$2,149	$1,909	$2,184	1.2%
24	Ottawa	$2,145	$1,955	$2,457	−4.7%
25	Barrie	$2,140	$1,936	$2,214	−1.4%
26	New Westminster	$2,137	$1,888	$2,718	−1.6%
27	Laval	$2,106	$1,715	$2,367	11.7%
28	Nanaimo	$2,105	$1,843	$2,299	5.1%
29	Surrey	$2,094	$1,818	$2,206	−8.2%
30	Kamloops	$2,078	$1,790	$2,148	1.6%
31	Greater Sudbury	$2,059	$1,886	$2,119	−10.5%
32	Kelowna	$2,056	$1,743	$2,217	−4.6%
33	Cambridge	$2,049	$1,834	$2,089	−4.4%
34	Kitchener	$1,989	$1,775	$2,134	−3.8%
35	Oshawa	$1,985	$1,719	$2,048	−3.8%
36	Brantford	$1,985	$1,794	$2,153	5.6%
37	Peterborough	$1,972	$1,725	$1,994	−1.1%
38	Airdrie	$1,958	$1,475	$1,748	−2.8%
39	Brossard	$1,948	$1,787	$2,010	−13.4%
40	Montreal	$1,938	$1,737	$2,285	2.2%
41	London	$1,911	$1,663	$2,055	−5.7%
42	Niagara Falls	$1,907	$1,690	$2,024	−2.7%
43	Calgary	$1,869	$1,532	$1,848	−4.2%
44	St. Catharines	$1,841	$1,636	$1,929	−1.0%
45	Welland	$1,792	$1,540	$1,973	8.9%
46	Gatineau	$1,732	$1,541	$1,843	−12.2%
47	Sarnia	$1,710	$1,508	$1,793	−4.1%
48	Winnipeg	$1,669	$1,445	$1,786	3.5%
49	Windsor	$1,622	$1,494	$1,784	−7.2%
50	Côte Saint-Luc	$1,605	$1,413	$1,840	−19.6%
51	Red Deer	$1,600	$1,362	$1,565	0.4%
52	Edmonton	$1,589	$1,288	$1,634	−1.3%
53	Saskatoon	$1,532	$1,347	$1,580	4.3%
54	Lethbridge	$1,483	$1,356	$1,558	−0.7%
55	Regina	$1,439	$1,285	$1,530	3.0%
56	Quebec City	$1,420	$1,290	$1,555	−11.6%
57	Medicine Hat	$1,387	$1,225	$1,406	0.8%
58	Fort McMurray	$1,362	$1,181	$1,404	0.5%
59	Lloydminster	$1,194	$1,069	$1,279	2.3%
60	St. John's	$1,143	$1,079	$1,253	5.5%

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Rental Price Changes by Province

Rental Price Growth by Housing Type

How Does Renting Compare with Homeownership Across Ontario?

Each $100,000 in mortgage balance costs an average of $528.19 per month on nesto’s lowest fixed 5-year rate at 4.04% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.40%.

For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.23. Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.

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Frequently Asked Questions (FAQ) About the Ontario Housing Market Outlook for 2026

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Why Choose nesto

At nesto, our commission-free mortgage experts, certified in multiple provinces, provide exceptional advice and service that exceeds industry standards. Our mortgage experts are salaried employees who provide impartial guidance on mortgage options tailored to your needs and are evaluated based on client satisfaction and the quality of their advice. nesto aims to transform the mortgage industry by providing honest advice and competitive rates through a 100% digital, transparent, and seamless process.

nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.

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