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As we move through the heart of summer, the market is behaving much as we’d expect.
Local Real Estate Market Update: August 2026
Historically, the busiest periods for residential real estate are spring and fall. Many families aim to purchase in the spring to settle into their new home before the school year begins. If that timeline doesn’t work out, activity often slows through the summer before picking up again in the fall as buyers look to move before the holiday season.
Of course, life doesn’t stop for the calendar. Job relocations, growing families, downsizing, divorce, investment opportunities, and new development continue to create buying and selling opportunities year-round.
July reflected that typical seasonal slowdown. Compared to the previous few months, we saw:
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A modest decline in both new listings and sales
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Slightly longer average days on market
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A small increase in months of inventory
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A slight decline in the average sale price
Looking ahead, August will likely remain relatively steady before activity begins to increase through the second half of September and into October and November.
While market fundamentals remain relatively stable, several broader economic factors continue to influence buyer and seller confidence.
Positive developments include:
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The opening of the Gordie Howe International Bridge, bringing long-term economic benefits to our region.
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Ontario’s new HST relief on qualifying new homes is now in effect and beginning to influence the local new construction market.
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Variable mortgage rates from many A lenders remain below 4% for owner-occupied properties.
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Markets have remained relatively strong, supporting consumer confidence.
Headwinds remain:
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Ongoing tariff and trade uncertainty, along with continued geopolitical tensions in the Middle East.
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Canadian bond yields have been trending higher, which may place upward pressure on fixed mortgage rates if that trend continues.
Overall, our local real estate market continues to demonstrate a balanced market.
Well-priced homes are still selling, buyers have more choice than they did a few years ago, and opportunities continue to exist on both sides of the transaction.
Cody Kraus
Broker | Owner
c: 519.322.7105
e: cody.kraus@century21.ca
