Ontario Housing Market as of December 2025
- Greater Toronto Area’s average home price decreased by 6.5% year-over-year to $973,289
- City of Toronto’s average home price decreased by 3.7% year-over-year to $948,698
- Ottawa’s average home price decreased by 0.7% year-over-year to $658,943
- Mississauga’s average home price decreased by 9.9% year-over-year to $943,607
- Brampton’s average home price decreased by 10% year-over-year to $882,710
- Hamilton’s average home price decreased by 14% year-over-year to $663,558
- Waterloo Region’s average home price decreased by 6.1% year-over-year to $716,911
- Oshawa’s average home price decreased by 9.0% year-over-year to $709,60Ontario’s housing market saw its average home price in December 2025 dip to an almost three-year low as it cooled to $800,420, the lowest since January 2023. That’s down by 4% year-over-year. Ontario’s average annual home price in 2025 was $835,467, down 3.8% year-over-year. Nationally, Canada’s housing market saw prices ease 0.1% year-over-year to $673,335.There were 8,806 home sales in Ontario for the month, a 1.2% increase from a year earlier. Sales activity sat 13.7% below the ten-year average for the month of December, reflecting a market that is still adjusting to higher inventory and slower demand, although it was also the highest number of December sales since 2021.
Active listings are the dominant story for December 2025. There were 45,255 active listings at the end of December 2025, the highest in more than 10 years for the month of December. That’s 57% higher than the ten-year average for December.
11,869 homes were brought to market in December 2025, representing a 5.4% year-over-year increase. With supply building, months of inventory reached 5.1, well above the long-run December average of 3.1 months and another sign that bargaining power continues to shift toward buyers.
The total value of homes sold in Ontario reached $7 billion in December 2025, decreasing by 2.7% from last year. For now, the Ontario housing market continues to absorb an influx of supply as buyers take more time and sellers adjust expectations into the winter season.
Greater Toronto Area (GTA)
The average home price in the GTA in December 2025 was $1,006,735, down 5.7% year-over-year and down 3.1% monthly. That’s the lowest since January 2021. The City of Toronto’s average home price is $986,542, down 4.6% year-over-year.
Some suburban areas, such as Mississauga and Brampton, are experiencing larger year-over-year price declines, with Brampton home price down 6.9% year-over-year to $882,661. Similarly, Richmond Hill home prices are down 14% year-over-year. Mississauga average home prices are down only 1.5% year-over-year, whileMarkham home prices are up 0.1% year-over-year.
Ottawa
Ottawa’s housing market had an average home price of $658,943, down 0.7% year-over-year and down 3.6% month-over-month. On the other hand, Ottawa’s benchmark home price is still up year-over-year, up 0.4% to $615,500. 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
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 now $734,928 in October 2025, down 5.7% year-over-year. InLondon’s housing market, the average home price is $614,104 for December 2025, down 3.6% year-over-year.
Price Trends
Central Ontario was the most expensive region in Ontario with an average price of $1,017,983. Prices fell 5.7% year-over-year in Central Ontario as the GTA continued to adjust to higher listings and slower demand.
Southern Ontario, which includes Hamilton and Niagara, recorded an average price of $701,981, down 7.2% from last year. The region has long served buyers priced out of Toronto, although affordability remains stretched compared with earlier in the decade.
Northeastern Ontario posted an average price of $688,257, a 6.3% decline compared with last December.
Eastern Ontario and Northern Ontario posted the only annual increases in the province. In Eastern Ontario, the regional average of $611,190 represented a 1.6% gain year-over-year, supported by steady demand in Ottawa and surrounding communities.
Western Ontario recorded an average price of $565,212, down 4.8% year-over-year. The region remains more affordable than markets around Toronto, and price movements have been comparatively stable. Northern Ontario remained the most affordable part of the province, with an average price of $395,676, a 6.8% increase year-over-year.
