MLS® home sales rise in September as wave of new listings increases choice
The number of homes sold in Norfolk County via the MLS® System of the Cornerstone Association of REALTORS® (Cornerstone) totaled 111 units in September 2025. This was up by 23.3% from September 2024.
Home sales were 22.2% above the five-year average and 4.6% above the 10-year average for the month of September.
On a year-to-date basis, home sales totaled 800 units over the first nine months of the year. This was essentially unchanged, up just 0.1% (one sale) from the same period in 2024.
“Sales climbed from August, posting the strongest month since May and the best September since 2021. Sellers showed up in force, with the number of newly listed homes jumping well above the seasonal norm, rising sharply from August,” said Drew Hemsley, Cornerstone spokesperson for the Norfolk County market area. “Even with new listings more than double the number of sales, the number of homes on the market at the end of September was up only slightly from the end of the previous month. However, active listings remain well above the typical levels for this time of year. Although down slightly from a year ago, the MLS® HPI composite benchmark price remained steady and was up nearly 5% from the end of 2024. In short, September brought stronger sales, an influx of new listings, steady prices, and a market that continues to favour buyers but is slowly inching toward more balanced conditions.”
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 $560,200 in September 2025, a decline of 4.3% compared to September 2024.
The benchmark price for single-family homes was $560,900, down by 4.2% on a year-over-year basis in September. By comparison, the benchmark price for townhouse/row units was $503,100, a decrease of 9.7% compared to a year earlier.
The average price of homes sold in September 2025 was $628,948, a small reduction of 2.2% from September 2024.
The more comprehensive year-to-date average price was $627,662, decreasing by 1.5% from the first nine months of 2024.
The dollar value of all home sales in September 2025 was $69.8 million, a gain of 20.7% from the same month in 2024.
The number of new listings was up by 28.4% from September 2024. There were 285 new residential listings in September 2025. This was also the largest number of new listings added in the month of September in history.
New listings were 34.4% above the five-year average and 50.6% above the 10-year average for the month of September.
Active residential listings numbered 604 units on the market at the end of September, an increase of 11% from the end of September 2024. Active listings haven’t been this high in the month of September in more than a decade.
Active listings were 48.8% above the five-year average and 79.2% above the 10-year average for the month of September.
Months of inventory numbered 5.4 at the end of September 2025, down from the 6 months recorded at the end of September 2024 and above the long-run average of 3.5 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.
BOARD & ASSOCIATION INFORMATION
ABOUT CORNERSTONE Cornerstone Association of REALTORS® (Cornerstone) is a not-for-profit organization with over 325 years of collective service from its founding associations. Established on July 1, 2024, Cornerstone leads with purpose, advocates boldly, and creates positive change for the success of our members throughout Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With nearly 8,000 members, Cornerstone is the second-largest REALTOR® association in Ontario, dedicated to promoting the greater good of the real estate community.
For more information,
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Phone: (519) 426-4454
communications@cornerstone.inc
Julie Sergi
