Ontario MLS® home sales down, new listings up in January as economic uncertainty weighs on buyers
Residential sales activity reported through the MLS® Systems of real estate boards in Ontario numbered 8,912 units in January 2025. This was a large decline of 10.1% from January 2024.
Home sales were 19.1% below the five-year average and 17.8% below the 10-year average for the month of January.
Nationally, home sales activity was up modestly by 2.9% from year-ago levels in January 2025.
The average price of resale residential homes sold across the province in January 2025 was $834,050, a modest gain of 1.3% from January 2024.
The national average price, by comparison, marked a small gain of 1.1% on a year-over-year basis to $670,064 in January 2025.
The number of new listings on MLS® Systems of real estate boards in Ontario saw a sizable gain of 25.7% from January 2024. There were 25,844 new residential listings in January 2025. This was the largest number of new listings added in the month of January in more than 15 years.
New listings were 26.7% above the five-year average and 28.7% above the 10-year average for the month of January.
Active residential listings numbered 44,913 units on the market at the end of January, a substantial gain of 35.7% from the end of January 2024. Active listings haven’t been this high in the month of January in a decade.
Active listings were 69.2% above the five-year average and 53.1% above the 10-year average for the month of January.
Months of inventory numbered 5 at the end of January 2025, up from the 3.3 months recorded at the end of January 2024 and above the long-run average of 2.9 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.
The dollar value of all home sales in the province in January 2025 was $7.4 billion, a decrease of 9% from the same month in 2024.
| Ontario Monthly Summary | ||||
|---|---|---|---|---|
| January 2025 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Central1 | 4,116 | -10.5 | $1,051,369 | 0.8 |
| Eastern2 | 997 | -4.3 | $616,374 | 6.1 |
| Northeastern3 | 794 | -9.9 | $694,681 | 2.0 |
| Northern4 | 420 | 7.4 | $361,809 | 7.4 |
| Southern5 | 1,470 | -17.9 | $765,232 | 2.6 |
| Western6 | 1,115 | -7.6 | $594,318 | 3.3 |
| Ontario | 8,912 | -10.1 | $834,050 | 1.3 |
| Ontario Year-To-Date Summary | ||||
|---|---|---|---|---|
| YTD 2025 | Residential Sales | Year-over-year % change | Residential Average Price | Year-over-year % change |
| Central1 | 4,116 | -10.5 | $1,051,369 | 0.8 |
| Eastern2 | 997 | -4.3 | $616,374 | 6.1 |
| Northeastern3 | 794 | -9.9 | $694,681 | 2.0 |
| Northern4 | 420 | 7.4 | $361,809 | 7.4 |
| Southern5 | 1,470 | -17.9 | $765,232 | 2.6 |
| Western6 | 1,115 | -7.6 | $594,318 | 3.3 |
| Ontario | 8,912 | -10.1 | $834,050 | 1.3 |
1 Oakville-Milton, Greater Toronto
2 Cornwall, Kingston and Area, Ottawa, Renfrew County, Rideau-St. Lawrence
3 Bancroft & District, Barrie & District, Kawartha Lakes, Lakelands, Northumberland Hills, Peterborough and the Kawarthas, Quinte & District
4 North Bay, Saul Ste. Marie, Sudbury, Thunder Bay, Timmins, Cochrane & Timiskaming Districts
5 Brantford Region, Guelph & District, Hamilton-Burlington, Kitchener-Waterloo, Niagara Region, Simcoe, and Cambridge
6 Chatham-Kent, Grey Bruce Owen Sound, Huron Perth, London & St. Thomas, Sarnia-Lambton, Windsor-Essex, Woodstock-Ingersoll-Tillsonburg
BOARD & ASSOCIATION INFORMATION
The Ontario Real Estate Association represents nearly 100,000 brokers and salespeople who are members of the 29 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of support services, educational programs, advocacy, standard forms, and other offerings.
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Rick Kedzior
