About Ontario real estate
Ontario is Canada's largest and most expensive housing market, anchored by the Greater Toronto Area and stretching from Ottawa to the southwestern cities.
Expert take: Inventory has built to decade-high levels and the provincial benchmark sits below year-ago figures, handing buyers the most leverage in years. But the GTA, Ottawa, and southwestern Ontario are moving in different directions, so the provincial average hides more than it reveals.
By the numbers
- Median listing price provincewide: $755,000 CAD
- Active ON REALTORS® on this network: 1
- Population: 16,100,000
- Capital: Toronto
- Brokerage: eXp Realty Ontario
Ontario market snapshot
Market data is updated periodically and deemed reliable but not guaranteed. Figures in CAD.
Ontario through experienced eyes
What makes Ontario different.
Ontario charges a provincial Land Transfer Tax on every purchase, and buyers inside the City of Toronto pay a second Municipal Land Transfer Tax on top of it, effectively doubling the closing tax. First-time buyers can claim rebates of up to $4,000 provincially and up to $4,475 on the Toronto MLTT.
Current conditions.
With a provincial benchmark near $755,000, roughly 40 days median on market, and about 67,000 active listings province-wide, Ontario is a balanced-to-buyer market carrying its highest inventory in over a decade. Read Ontario by metro, not by province.
The single biggest trend.
Rising inventory and soft year-over-year prices have shifted negotiating power toward buyers, especially in the condo and detached GTA segments.
Where to look in Ontario
Median sale prices are directional public-data estimates in CAD.
Toronto (City)
Canada's deepest market; second Municipal LTT applies inside city limits
Markham
York Region tech and transit hub; balanced conditions, strong long-term demand
Mississauga
GTA west; detached near $1.46M, condos near $500K give entry points
Ottawa
Stable government-anchored market; prices flat to slightly up while the GTA softens
School districts buyers ask about
Buyers frequently ask about the Toronto District School Board, York Region District School Board (which covers Markham), Ottawa-Carleton District School Board, and the parallel Catholic boards, plus French-immersion catchments. EQAO scores and catchment boundaries drive demand in family neighbourhoods.
Climate and seasons
Ontario has a four-season continental climate: warm, humid summers in the 20-30C range and cold, snowy winters. Toronto stays milder by Lake Ontario, while Ottawa and the north see deeper, longer-lasting snow.
Questions buyers and sellers ask us most
How much do I need for a down payment in Ontario?
Canadian rules require a minimum 5% down on the first $500,000 and 10% on the portion above, up to a $1.5M price cap for an insured mortgage. With the Ontario benchmark near $755,000, a minimum down payment runs about $50,500, while 20% (roughly $151,000) avoids default insurance. Any purchase under 20% down requires CMHC, Sagen, or Canada Guaranty default insurance. There is no FHA or VA financing in Canada.
What is the best time of year to buy a home in Ontario?
Spring is Ontario's busiest season, with the most listings and the most competition from late February through June. Late fall and winter bring fewer buyers and motivated sellers, often the better window to negotiate, especially with today's elevated inventory.
Can I buy a home in Ontario without seeing it in person?
Yes. Your agent can run a live video walkthrough and you can write an offer conditional on a home inspection and satisfactory review of condition. Many Ontario buyers, especially in the GTA, purchase this way.
How long does it take to close on a home in Ontario?
Ontario closings are handled by a real estate lawyer, not a title or escrow company, and typically complete 30 to 60 days after a firm agreement. Budget for Ontario Land Transfer Tax at closing, plus the additional Toronto Municipal Land Transfer Tax if the property is inside the City of Toronto; first-time buyers may claim rebates against both.
What is your home worth in Ontario?
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