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MPAC’s latest housing market analysis provides a snapshot of how Ontario’s residential property landscape has changed since the 2022 market peak.
According to data released by MPAC in June, nearly 24% of Ontario homes are now estimated at below $500,000, up from approximately 17% in 2022. While this represents a shift toward lower estimated ranges, it remains significantly below the 67% recorded in 2016.
Condominiums are leading the shift. The share of condos estimated at below $500,000 has nearly doubled since 2022, rising from 24% to 46%. Other property types have seen more modest changes, with 18% of detached homes, 15% of semi-detached homes, and 5% of townhouses now valued below $500,000. It is worth noting that greater availability at lower estimate ranges does not reflect suitability for all buyers, as factors such as unit size, bedroom count, and location vary.
The data also points to changes at the community level. The number of Ontario municipalities with a median home value above $750,000 has declined from 105 in 2022 to 65 in 2026. Several communities outside the GTHA, including Kitchener, Waterloo, Cambridge, Hamilton, Collingwood, Kawartha Lakes, Gravenhurst, and Brock, have seen a shift toward a majority of homes valued below $750,000.
At the same time, regional differences remain significant. While some communities have seen property values ease from their 2022 peaks, other areas, particularly in northern and eastern Ontario, continue to experience increases in median property values and a decline in lower-value housing stock.
For MPPs and their constituency offices, these trends provide useful context when responding to questions from constituents about property values and Ontario’s changing housing market.
MPAC’s Housing Inventory Map allows users to explore how residential property estimates have changed across Ontario communities over the past decade, providing a more localized view of these provincial trends.
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