Market Watch - Average Selling Prices Down Due to More Choice.
August home sales were up as home buyers benefitted from an even larger increase in the inventory of listings. However, average selling prices continued to be negotiated downward across all market segments.
Ontario - Average selling prices down due to the elevated choice across market segments
Toronto, September 5, 2025 -- August home sales reported by the Toronto Regional Real Estate Board (TRREB) were up on a year-over-year basis. Over the same period, home buyers benefitted from an even larger increase in the inventory of listings. Average selling prices continued to be negotiated downward due to the elevated choice across market segments.
“Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits,” said TRREB President Elechia Barry-Sproule.
Greater Toronto Area (GTA) REALTORS® reported 5,211 home sales through TRREB’s MLS® System in August 2025 – up by 2.3% compared to August 2024. New listings entered into the MLS® System amounted to 14,038 – up by 9.4% year-over-year.
On a seasonally adjusted basis, August home sales edged lower month-over-month compared to July 2025. In contrast, new listings increased compared to July, reaffirming that buyers continue to benefit from a well-supplied market.
The MLS® Home Price Index Composite benchmark was down by 5.2% year-over-year in August 2025. The average selling price, at $1,022,143, was also down by 5.2% compared to August 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price remained flat compared to July.
“A household earning the average income in the GTA is still finding it challenging to afford the monthly mortgage payment associated with the purchase of an average-priced home. This is even with lower borrowing costs and selling prices over the past year. Further relief in borrowing costs would see an increased number of buyers move off the sidelines to take advantage of today’s well-supplied market,” said TRREB Chief Information Officer Jason Mercer.
“New, large scale infrastructure projects, including affordable housing, public transit, ports, and shipbuilding will be important for sustaining Canada’s economic sustainability in the medium-to-long term. However, in the short term, spurring consumer spending on large ticket items like housing could lead recovery, as it has in previous economic cycles,” said TRREB Chief Executive Officer John DiMichele.
Ottawa Seasonal Inventory Growth Meets Steady Demand
Ottawa, September 7, 2025 -- Ottawa’s housing market in August 2025 offered buyers greater choice amid subtle signs of shifting dynamics. Last month, demand remained healthy, while supply continued to increase. Active listings climbed to 3,971, approximately 37% above the five-year August average.
This increase in inventory, while worth monitoring, is not currently a cause for concern. Ottawa’s real estate market follows well-established seasonal cycles, with late summer typically bringing a build-up of available listings ahead of the busy fall market. Both the sales-to-new-listings ratio of 58.3% and 3.2 months of inventory indicate that demand is keeping pace with supply, maintaining balanced market conditions.
It’s also important to recognize that 2020 and 2021 were historic outliers, with unusually low active listing levels that distort the five-year average. Excluding those years and instead referencing the pre-pandemic 2018 and 2019 figures, August 2025 inventory sit roughly 33–34% above the revised five-year trend — a more accurate measure of current market standing relative to historical norms.
Property-type trends continue to diverge. Single-family home HPI benchmarks remain broadly steady, and townhouse values are showing gains, while the condominium segment, particularly in the downtown core, remains comparatively soft. These variations present differing market opportunities depending on location, property type, and price point.
For buyers, the current combination of elevated inventory and steady demand presents a strategic window: more choice and greater negotiating power are available for those in a position to act on it. Meanwhile, broader provincial trends — such as slowing sales and rising supply elsewhere in Ontario — remain factors to watch. There are emerging signs of a potential turnaround in these markets, that could support improved conditions in the months ahead.
OREB will continue to monitor these developments closely to ensure Members and consumers remain informed as Ottawa’s market evolves.
“August was an active month for Ottawa’s housing market, with overall prices trending upward and sales activity stronger than in recent years as the summer season winds down,” said Tami Eades, OREB President-Elect. “While we continue to see different price movements across segments, the broader picture points to renewed momentum in the Ottawa Region as buyers and sellers alike re-engage ahead of the fall market. Ottawa’s market reflects balanced conditions, though we are mindful of broader economic factors—such as federal employment trends and U.S. trade policies—that could affect our market in the months ahead.”
Residential Market Activity:
In August 2025, a total of 1,236 homes were sold across the Ottawa Real Estate Board (OREB) region. While down from 1,318 units in July 2025 and 1,602 in June 2025, this represents a 12.1% increase compared to August last year. Two consecutive months of slower sales is consistent with the spring to summer market seasonality, particularly as we are already approaching what is typically a more active fall market.
Looking at the bigger picture, there have been 9,936 home sales so far this year, which is 4.1% higher than at this time in 2024.
The average sale price for all sold listings in August was $686,536, up 3.6% from last year.
This year, the average year-to-date price is $700,828, a 3% increase over the first eight months of 2024.
Altogether, the total value of homes sold in August reached approximately $850 million, up 16% year-over-year, with the housing sector continuing to be one of the major drivers of the overall Ottawa economy.
On the listing side, there were 2,121 new residential listings added in August, a significant 8.6% increase compared to last year, and 3,971 active listings on the market, up 13.3% from August 2024, and 37.1% above the five-year average for this time of year.
Finally, the months of inventory—a measure of supply— sits at 3.2 months, which is unchanged from last month and identical to last August’s metric as well. 3.2 months of inventory is typically understood to be an indicator of what is considered a balanced market. Another indication that despite Ottawa’s high active listing count that demand is currently keeping pace with supply.
As for prices, the MLS® Home Price Index (HPI) composite benchmark price in Ottawa was $633,000 in August, a modest 1.5% increase year-over-year.
If we break that benchmark price down by property type:
Single-family homes came in at $700,100, up 1.5%.
Townhouses saw the biggest jump, up 8.3% to $466,200.
Apartments, on the other hand, dipped slightly, down 1.1% to $412,300.
British Columbia - Provincial Sales Up in August, But Some Regions Still Sluggish
Vancouver, September 11, 2025. The British Columbia Real Estate Association (BCREA) reports that 5,961 residential unit sales were recorded in Multiple Listing Service® (MLS®) Systems in August 2025, up 0.5% from August 2024. The average MLS® residential price in BC in August 2025 was down 1.4% at $926,335 compared to $939,376 in August 2024.
The total sales dollar volume was $5.5 billion, down 0.9% from the same time the previous year. BC MLS® unit sales were 24.2% lower than the ten-year August average.
“We continue to see significant regional disparity in the market, with the Lower Mainland lagging behind the rest of the province,” said BCREA Chief Economist Brendon Ogmundson. “While sales finished the summer on a lower note than expected, we continue to see encouraging signs of a better second half of the year.”
Year-to-date, BC residential sales dollar volume is down 8.5% to $46.3 billion, compared with the same period in 2024. Residential unit sales are down 5% year-over-year at 48,842 units, while the average MLS® residential price is also down 3.7% to $949,157.
Alberta - Summer Market Definitely Over as Sales and Listings Fall
Edmonton, September 2, 2025 —Activity in the Greater Edmonton Area (GEA) real estate market slowed in August, selling 2,382 units to mark a decrease of 16.7% from July 2025 and 7.8% from August 2024. Although new listings dropped by 10.5% month-over-month, they are still up 11.6% from last year, driving inventory levels 24.6% higher than in August 2024. Average days on market has also begun to increase, taking four days longer on average to sell a property in August 2025.
For the second time in a row, the average selling price across all residential property types has decreased 0.4% month-over-month. Though at $461,281, the average is still 6.0% higher than the previous year. The MLS® Home Price Index (HPI) composite benchmark price in the GEA was $427,900, reflecting no change from July 2025 and a 5.1% increase from August 2024.
“Despite the hotter temperatures in August, the market definitely cooled. The number of properties listed and sold in August was lower in all categories, which is typical for this time of year. As school starts up again and life gets busier, the buyers and sellers that are left in the market will have to change up their tactics a bit. Sellers will have to make sure they’re priced right and showing their best, while buyers will be able to negotiate with motivated sellers.” -Darlene Reid, 2025 Board Chair, REALTORS® Association of Edmonton
Data by Property Type:
Detached home average prices decreased 1.5% month-over-month to $569,926, while the year-over-year change reflected a 4.5% increase. The number of detached sales fell 15.8 from July 2025 and 2.9% from August 2024. New detached listings decreased 11.5% month-over-month, but are 14.5% higher year-over-year.
Semi-detached property prices also cooled last month, falling 2.3% from July 2025 to $420,802, but were 1.4% higher than in August 2024. Sales continued to slow, with a 16.2% decrease from the previous month and 12.4% fewer sales than the previous year. In August 2025, new semidetached listings were 12.8% lower than in July, but showed an increase of 20.5% compared to August 2024.
Row/townhome prices rebounded a small amount, averaging $301,342, a 1.5% monthly increase and a 3.5% increase over the previous year. Although new listings were 6.8% higher than last year, they continued to slow, with 20.2% fewer properties added compared to July 2025. Sales continued to trend down, falling 17.7% month-over-month and 19.9% compared to August 2024.
Apartment condominium sales slowed in August 2025, dropping 19.2% from the previous month and 9.5% from the previous year. New listings for apartment condos also
decreased 16.3% from July but remained 3.3% higher than August 2024. Condominium prices showed the highest increase of all the categories, at $218,063 last month, moving the needle 3.9% higher month-over-month, and representing an increase of 6.7% over August 2024.