HomeOntario housing market
These are the key facts for the housing market in Ontario — all stats are for June 2024 unless otherwise mentioned.
- The average home price in Ontario was $884,761 which is a 2.3% year-over-year decrease.
- The Ontario housing market is considered to be a balanced market with a sales-to-new-listing (SNLR) ratio of 41%.
- Ontario housing starts are the highest of any province with 65,094 (SAAR).
- Home sales in Ontario were 16,060 which is down 15.1% year-over-year despite new listings of 39,164 which represent a 5.1% year-over-year increase.
Average home price in Ontario
The average home price in Ontario for June 2024 was $884,761 — which is a 2.3% decrease from the June 2023 home price. This home price is the average across the province and all property types. The year-to-date average home price in Ontario is $880,807 which is 1.2% lower compared to the average home price from January-June of 2023. The MLS benchmark home price in Ontario was $885,100 which is a 4.3% year-over-year decrease.
Ontario home prices by property type
All of the property types below in Ontario experienced year-over-year decreases in home price. The largest year-over-year decrease was seen by condos with a 4.38% decrease — this was followed by single family homes which decreased 4.06% year-over-year.
- Single Family: Benchmark - $973,400
- Townhouse / Multiplex: Benchmark - $709,100
- Condo / Apartment: Benchmark - $617,800
Home prices in major Ontario cities
Hamilton: The average home price in Hamilton was $831,190 in June 2024 which is a 0.40% year-over-year increase.
Markham: The average home price in Markham was $1,348,035 in June 2024.
Toronto: The average home price in Toronto was $1,173,781 in June 2024.
Canada Housing Markets
See the housing markets in Canada broken down at a national, provincial and city level with the following reports