Ontario Housing Market as of February 2026

• Greater Toronto Area’s average home price decreased by 7.0% year-over-year to $1,008,968
• City of Toronto’s average home price decreased by 6.2% year-over-year to $1,019,144
• Ottawa’s average home price decreased by 1.1% year-over-year to $662,773
• Mississauga’s average home price decreased by 7.3% year-over-year to $963,747
• Brampton’s average home price decreased by 8.7% year-over-year to $887,457
• Hamilton’s average home price decreased by 6.1% year-over-year to $718,545
• Waterloo Region’s average home price decreased by 5.5% year-over-year to $725,310
• Oshawa’s average home price decreased by 7.4% year-over-year to $712,618

Ontario Housing Market as of February 2026

Ontario’s housing market strengthened somewhat in February 2026, with the average home price rising to $802,601, up 3.1% from January 2026, though still 5.2% lower than a year earlier. Nationally, Canada’s average home price edged up to $663,828 in February 2026, up 1.7% monthly but down 0.2% year-over-year.

There were 9,425 home sales in Ontario in February 2026, up 21.8% from January 2026 but still 8.1% below the level from a year earlier. The rebound in sales suggests a pickup in activity from the unusually weak January 2026, although Ontario’s housing market remained softer than last year overall.

The total value of homes sold in Ontario was about $7.6 billion in February 2026, up from January 2026 but still below year-ago levels, reflecting a market that recovered on a monthly basis while remaining weaker on an annual basis.

The average home price in the GTA in February 2026 was $1,008,968, down 7.0% year-over-year and up 3.7% monthly. The City of Toronto’s average home price is $1,019,144, down 6.2% year-over-year.

Some suburban areas, such as Mississauga and Brampton, are experiencing larger year-over-year price declines, with Brampton’s average home price down 8.7% year-over-year to $887,457. Similarly, Markham home prices are are down 11.8% year-over-year. Mississauga average home prices are down 7.3% year-over-year.Hamilton’s housing market in February 2026 saw prices decline 6.1% year-over-year to $718,545.

Ottawa’s housing market had an average home price of $662,773, down 1.1% year-over-year and up 3.3% month-over-month. On the other hand, Ottawa’s benchmark home price is down 1.3% year-over-year, up 1.4% month-over-month to $615,400. Ottawa’s robust job market, particularly in the public sector, and high quality of life make it an attractive destination for Ontario homebuyers.

Kitchener-Waterloo and London have seen significant growth in the past few years, with their tech sectors attracting young professionals, although home price growth has slowed. The average home price in the Kitchener-Waterloo-Cambridge Region is $725,310 in February 2026, down 5.5% year-over-year. In London’s housing market, the average home price is $622,414 for February 2026, down 3.9% year-over-year.

Central Ontario remained the most expensive region in Ontario in February 2026, with an average home price of $1,019,988. Prices were down 7.1% year-over-year, reflecting continued adjustment in and around the GTA as buyers contend with higher supply and more cautious demand.

Southern Ontario, which includes Hamilton, recorded an average price of $733,144, down 2.5% from a year earlier. While the region has long attracted buyers priced out of Toronto, affordability pressures and elevated borrowing costs have continued to limit stronger price growth.

Northeastern Ontario posted an average price of $674,024, an 8.2% decline year-over-year. Eastern Ontario also softened, with an average price of $608,756, down 1.1% from last year, suggesting relatively subdued market conditions in and around Ottawa.

Western Ontario recorded an average price of $564,131, down 6.2% year-over-year, continuing to offer relatively more affordable options than markets closer to Toronto. Northern Ontario remained the most affordable region in the province at $406,353 and was the only region to post an annual increase, up 1.9% year-over-year.