Ontario is leading Canada’s real estate market — and not because of the Blue Jays. According to recent housing data, seven of the top eight best places to buy a home in Canada are in Ontario. While this might not surprise longtime residents, the numbers behind it reveal a fascinating story about shifting markets, buyer sentiment, and local demand.
Let’s unpack what’s happening across Ontario’s housing landscape, what the numbers really mean, and why certain areas remain surprisingly strong — even as the Greater Toronto Area (GTA) softens.
Understanding the Key Metric: Sales-to-New-Listings Ratio
The main indicator driving these rankings is the sales-to-new-listings ratio (SNLR). This simple but powerful metric helps define whether a market favours buyers, sellers, or sits in balance:
For example, if 60 homes sell out of 100 new listings, the SNLR would be 60% — a seller’s market where demand exceeds supply.
Where Ontario Leads — and Why
When analyzing 2025 data, several Ontario cities stand out for their high ratios, indicating strong buyer activity despite higher interest rates and affordability challenges.
A Closer Look at the GTA Numbers
The Toronto Regional Real Estate Board (TRREB) Market Watch provides the most comprehensive breakdown of GTA performance. As of September 2025:
These numbers confirm what many in the industry have noticed — the GTA is no longer a uniform market. Each subregion behaves differently, and property type matters more than ever.
Detached, Semi-Detached, and Condos: A Tale of Three Markets
Detached Homes
Detached houses — long the dream for many buyers — are now selling slower. In the City of Toronto, there were 2,377 new listings and 675 sales, roughly one in four homes selling in a given month. Add in active listings from previous months, and the real absorption rate dips closer to one in five.
Semi-Detached Homes
This segment tells a very different story. Semis often serve as the “next step” for condo owners, offering more space without the cost of a fully detached house.
Citywide, there were 572 new listings and 214 sales — roughly one in two and a half homes selling.
In key neighbourhoods like W2 (High Park/Bloor West Village) and E01 (Riverdale/Leslieville), over half of listed semis sold, firmly putting these areas in seller’s market territory.
Average prices for semis in these neighbourhoods remain strong, hovering around $1.3 million to $1.55 million.
Condominiums
Condos, meanwhile, face slower turnover. In Toronto’s core (C01 and C08), roughly one in seven listings sold in September. With 1,379 active listings and only 213 sales, the condo market clearly leans toward buyers. However, affordability and urban convenience still attract steady interest, especially among first-time buyers and investors.
Why Months of Inventory Still Matter
Beyond ratios, another key measure is months of inventory (MOI) — the number of months it would take to sell all active listings at the current sales pace.
Lower MOI means higher competition among buyers. In areas like W2 and E01, MOI is incredibly low, aligning with the data showing homes selling above asking prices — as much as 107% to 110% of list price.
That’s a clear sign of strong demand, especially for family-friendly homes in desirable urban pockets.
What It All Means for Buyers and Sellers
Ontario’s housing market is split into micro-markets, each telling its own story. While the GTA as a whole may appear to be a buyer’s market, specific neighbourhoods and property types are thriving — particularly semi-detached homes in the city’s west and east ends.
For buyers, this could be an opportunity to negotiate more favourable terms in broader areas like the GTA or for condos downtown.
For sellers, especially those in high-demand neighbourhoods, pricing strategically and understanding your local data remain key to success.
Ontario’s dominance in Canada’s real estate rankings highlights more than just regional strength — it reflects a market in transition.
From Sudbury’s surge to Toronto’s segmentation, understanding where each area stands can help both buyers and sellers make informed moves in 2025’s evolving landscape.
Let’s unpack what’s happening across Ontario’s housing landscape, what the numbers really mean, and why certain areas remain surprisingly strong — even as the Greater Toronto Area (GTA) softens.
Understanding the Key Metric: Sales-to-New-Listings Ratio
The main indicator driving these rankings is the sales-to-new-listings ratio (SNLR). This simple but powerful metric helps define whether a market favours buyers, sellers, or sits in balance:
- Above 60%: Seller’s market
- Between 40% and 60%: Balanced market
- Below 40%: Buyer’s market
For example, if 60 homes sell out of 100 new listings, the SNLR would be 60% — a seller’s market where demand exceeds supply.
Where Ontario Leads — and Why
When analyzing 2025 data, several Ontario cities stand out for their high ratios, indicating strong buyer activity despite higher interest rates and affordability challenges.
- Sudbury tops the list with 259 sales out of 335 listings — an impressive absorption rate that highlights limited supply and consistent local demand.
- Hamilton–Burlington sits around 47%, holding steady in a balanced zone.
- The Greater Toronto Area (GTA), however, has shifted firmly into buyer’s territory at around 37%, reflecting the large volume of active listings and slower sales pace.
A Closer Look at the GTA Numbers
The Toronto Regional Real Estate Board (TRREB) Market Watch provides the most comprehensive breakdown of GTA performance. As of September 2025:
- Toronto overall: 34.8%
- Brampton: 29.5%
- Burlington: 43.1%
These numbers confirm what many in the industry have noticed — the GTA is no longer a uniform market. Each subregion behaves differently, and property type matters more than ever.
Detached, Semi-Detached, and Condos: A Tale of Three Markets
Detached Homes
Detached houses — long the dream for many buyers — are now selling slower. In the City of Toronto, there were 2,377 new listings and 675 sales, roughly one in four homes selling in a given month. Add in active listings from previous months, and the real absorption rate dips closer to one in five.
Semi-Detached Homes
This segment tells a very different story. Semis often serve as the “next step” for condo owners, offering more space without the cost of a fully detached house.
Citywide, there were 572 new listings and 214 sales — roughly one in two and a half homes selling.
In key neighbourhoods like W2 (High Park/Bloor West Village) and E01 (Riverdale/Leslieville), over half of listed semis sold, firmly putting these areas in seller’s market territory.
Average prices for semis in these neighbourhoods remain strong, hovering around $1.3 million to $1.55 million.
Condominiums
Condos, meanwhile, face slower turnover. In Toronto’s core (C01 and C08), roughly one in seven listings sold in September. With 1,379 active listings and only 213 sales, the condo market clearly leans toward buyers. However, affordability and urban convenience still attract steady interest, especially among first-time buyers and investors.
Why Months of Inventory Still Matter
Beyond ratios, another key measure is months of inventory (MOI) — the number of months it would take to sell all active listings at the current sales pace.
Lower MOI means higher competition among buyers. In areas like W2 and E01, MOI is incredibly low, aligning with the data showing homes selling above asking prices — as much as 107% to 110% of list price.
That’s a clear sign of strong demand, especially for family-friendly homes in desirable urban pockets.
What It All Means for Buyers and Sellers
Ontario’s housing market is split into micro-markets, each telling its own story. While the GTA as a whole may appear to be a buyer’s market, specific neighbourhoods and property types are thriving — particularly semi-detached homes in the city’s west and east ends.
For buyers, this could be an opportunity to negotiate more favourable terms in broader areas like the GTA or for condos downtown.
For sellers, especially those in high-demand neighbourhoods, pricing strategically and understanding your local data remain key to success.
Ontario’s dominance in Canada’s real estate rankings highlights more than just regional strength — it reflects a market in transition.
From Sudbury’s surge to Toronto’s segmentation, understanding where each area stands can help both buyers and sellers make informed moves in 2025’s evolving landscape.
