Ontario Real Estate Association

Ontario MLS® home sales, new listings running below average in August

Residential sales activity reported through the MLS® Systems of real estate boards in Ontario numbered 14,381 units in August 2022. This was a sharp decrease of 30.3% from August 2021.

Home sales were 26.6% below the five-year average and 24.8% below the 10-year average for the month of August.

On a year-to-date basis, home sales totalled 139,352 units over the first eight months of the year. This was down sharply by 28.8% from the same period in 2021.

Nationally, home sales activity posted a large decline of 24.7% from year-ago levels in August 2022.

The average price of resale residential homes sold across the province in August 2022 was $829,739, essentially unchanged, down just 0.6% from August 2021.

The more comprehensive year-to-date average price was $963,357, a sizable gain of 12.4% from the first eight months of 2021.

The national average price, by comparison, marked a modest decline of 3.9% on a year-over-year basis to $637,673 in August 2022.

The number of new listings on MLS® Systems of real estate boards in Ontario saw a gain of 7.2% from August 2021. There were 26,500 new residential listings in August 2022.

New listings were 7% below the five-year average and 6.2% below the 10-year average for the month of August.

Active residential listings numbered 38,481 units on the market at the end of August, up sharply by 83.6% from the end of August 2021.

Active listings were 1.1% above the five-year average and 22.8% below the 10-year average for the month of August.

Months of inventory numbered 2.7 at the end of August 2022, up from the 1 month recorded at the end of August 2021 and on par with the long-run average of 2.7 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 August 2022 was $11.9 billion, a substantial reduction of 30.7% from the same month in 2021.

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, Cambridge, Guelph & District, Hamilton-Burlington, Kitchener-Waterloo, Niagara Region, Simcoe

6 Chatham-Kent, Grey Bruce Owen Sound, Huron Perth, London & St. Thomas, Sarnia-Lambton, Tillsonburg District, Windsor-Essex, Woodstock-Ingersoll


The Ontario Real Estate Association represents 78,000 brokers and salespeople who are members of the 38 real estate boards throughout the province. OREA serves its REALTOR® members through a wide variety of professional publications, educational programs, advocacy, and other services. The association provides all real estate licensing courses in Ontario. REALTOR® is a trademark, which identifies real estate professionals who are members of the Canadian Real Estate Association and, as such, subscribe to a high standards of professional service and to a strict Code of Ethics.

For additional information, please email info@orea.com

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Katarina Praljak
Head of Communications
T: 416-445-9910

Karen Cox

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