The Greater Toronto Area, like other real estate markets across the country, has experienced a steep decline in sales activity since 2021. During 2024, units sold were down 44% from 2021 while the first quarter of 2025 saw a 21% decline year-over-year.
After inventory nearly doubled during the the second half of 2023, London inventory remains elevated at just under 5 months of resale supply. In the first quarter of 2025, the median selling price was down 2% year-over-year while units sold is down 30%.
During the first quarter of 2025, Windsor & Essex County reported an average resale price of $560K. While sales activity remains sluggish, the affordability of Windsor-Essex is resulting in less inventory and faster selling times when compared to London, the GTA, and the province as a whole.
An opinion piece based on historical transaction data from each of Ontario’s real estate boards. Ontario is the largest and fastest-growing province in Canada, representing almost half of our national population and expected to surpass...
