The Oakville, Milton and District Real Estate Board

The number of homes sold through the MLS® System of the Oakville-Milton and District Real Estate Board totaled 549 units in May 2025. This was a decline of 14.5% from May 2024.

Home sales were 27.4% below the five-year average and 34.3% below the 10-year average for the month of May.

On a year-to-date basis, home sales totaled 1,891 units over the first five months of the year. This was a sharp decrease of 34% from the same period in 2024.

“While year over year sales remained down and still lag the long-term average for the month, May sales surged 25% ahead of April’s total. New listings climbed for the fifth straight month, pushing above the seasonal norm, while overall inventory levels reached heights not seen since 2010,” said Ken Mazurek, President of the Oakville-Milton and District Real Estate Board. “The MLS® HPI Composite Benchmark Price held steady, though it still remains slightly below where it began 2025. Conditions were little changed and even though the sales-to-new listing ratio inched higher, market balance is still decisively tilted in favour of buyers.”

The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $1,168,600 in May 2025, a moderate decrease of 6.2% compared to May 2024.

The benchmark price for single-family homes was $1,416,600, falling by 6.1% on a year-over-year basis in May. By comparison, the benchmark price for townhouse/row units was $803,900, down only 0.3% compared to a year earlier, while the benchmark apartment price was $612,500, down by 6.8% from year-ago levels.

The average price of homes sold in May 2025 was $1,288,164, down modestly by 3.6% from May 2024.

The more comprehensive year-to-date average price was $1,264,292, a decrease of 4.5% from the first five months of 2024.

The dollar value of all home sales in May 2025 was $707.2 million, a reduction of 17.6% from the same month in 2024.

The number of new listings increased by 5.2% from May 2024. There were 1,739 new residential listings in May 2025. This was the largest number of new listings added in the month of May in more than five years.

New listings were 9.9% above the five-year average and 6.6% above the 10-year average for the month of May.

Active residential listings numbered 2,798 units on the market at the end of May, a gain of 28.3% from the end of May 2024. Active listings haven’t been this high in the month of May in 15 years.

Active listings were 54.1% above the five-year average and 44.5% above the 10-year average for the month of May.

Months of inventory numbered 5.1 at the end of May 2025, up from the 3.4 months recorded at the end of May 2024 and above the long-run average of 2.5 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.