Cornwall and District Real Estate Board

The number of homes sold through the MLS® System of the Cornwall and District Real Estate Board totaled 388 units in May 2025. This was an increase of 20.1% from May 2024.

Home sales were 9.6% above the five-year average and 12.4% above the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 1,273 units over the first five months of the year. This was a moderate gain of 4.3% from the same period in 2024.

“Unlike many other markets in Ontario and across the country, resale housing in our region began rebounding almost immediately in the aftermath of the downturn when interest rates went up back in 2022,” said Derek McEwen, President of the Cornwall and District Real Estate Board. “This recovery has continued almost unabated since then, with the most recent data showing a near-record May but also one of the strongest levels of any month on record. New listings have been steady at very supportive levels and inventories have also held steady over the course of the recovery, but with the rising strength in demand we’re almost looking at a seller’s market.”

The average price of homes sold in May 2025 was $531,878, increasing by 8.1% from May 2024.

The more comprehensive year-to-date average price was $523,088, a gain of 6.8% from the first five months of 2024.

The dollar value of all home sales in May 2025 was $206.4 million, up by 29.8% from the same month in 2024. This was a new record for the month of May and was also the largest dollar value of homes sold for any month in history.

The number of new listings saw a minor increase of 1.1% (seven listings) from May 2024. There were 618 new residential listings in May 2025. This was the largest number of new listings added for the month of May and was also the highest number added for any month in history.

New listings were 13% above the five-year average and 16.3% above the 10-year average for the month of May.

Active residential listings numbered 986 units on the market at the end of May, a moderate decrease of 5.5% from the end of May 2024.

Active listings were 39.6% above the five-year average and 3.2% below the 10-year average for the month of May.

Months of inventory numbered 2.5 at the end of May 2025, down from the 3.2 months recorded at the end of May 2024 and below the long-run average of 3 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.