Tuesday, June 9, 2026 / by Shiela Balanay
Ontario MLS® Home Sales Continue Monthly Growth Trend in May Despite Slight Year-Over-Year Decline
Provincial Overview: Ontario Real Estate
Residential sales activity reported through the MLS® Systems of real estate boards in Ontario totalled 61,660 units over the first five months of the year, down slightly by 3.8% compared to the same period in 2025. Despite the year-over-year decline, home sales increased for the fourth consecutive month, signaling continued market momentum. The year-to-date average home price was $822,066, a 3.4% decrease from the first five months of last year, offering buyers improved affordability and more opportunities in a balanced market.
Spotlight On: London, ON
This Year (Year-to-Date)
This Year (Year-to-Date)
- Slower Annual Demand: Overall YTD sales activity sits at 2,746 transactions, representing a 3.4% decline compared to the same period in 2025.
- Accumulating Supply: Slower sales throughout the winter and early spring have allowed active inventory to build, with average YTD active listings climbing 8.9% to 2,770 units.
- Shifted Balance: The market provides a clear advantage to buyers, featuring a comfortable 5.0 months of inventory (up from 4.5 months last year) and a longer YTD median of 26 days on market.
- Downward Price Pressure: The broader annual slowdown has pulled values downward, with the YTD average price slipping 1.9% to $633,844 and buyers successfully negotiating a 97.4% sale-to-list price ratio.
Last Month (May, 2026)
- Sudden Sales Resurgence: Defying the slower annual trend, May sales transactions spiked 8.8% year-over-year to reach 776 units, showing a late-spring burst of buyer interest.
- Tightening New Options: While sales jumped, sellers held back, causing new listings to drop 9.1% to 1,815 units compared to last May.
- Firming Market Conditions: With more sales and fewer listings, the Sales-to-New-Listings Ratio tightened to 42.8% (up from 35.7% last year), pulling inventory down slightly to 4.3 months.
- Mixed Pricing Signals: The sudden demand bump kept the average price virtually flat with a minor 1.0% increase to $662,292, though the median price still softened by 4.1% to $585,000, pointing to a longer median of 24 days to close deals.
London, ON Statistics: https://tinyurl.com/ywfye68e
