09/09/2026
August Home Sales Hit Decade Low as Benchmark Prices Show Modest Monthly Movement*
September 3, 2026 – In August 2026, the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone - this is my local real estate board), saw a 19.0% decline from July and a 13.0% decrease compared with the same period last year.
“August sales fell to their lowest level in more than a decade across Cornerstone’s market areas, based on records dating back to 2013, while new listings also approached record lows, aside from August 2021. Broader economic uncertainty and affordability pressures continue to shape household decisions, with some buyers and sellers waiting for greater confidence before making a move. At the same time, tighter inventory has helped keep benchmark prices relatively stable, near early 2021 levels,” said Bill Duce, CEO of Cornerstone. “Historically, September brings renewed activity, and CREA’s most recent national forecast supports a stronger second half of 2026. That said, real estate is inherently local, which is why connecting with a local REALTOR® who knows your specific market remains the most important step whether you’re buying or selling.”
On a year-over-year basis, each major Cornerstone market declined, though Burlington and Norfolk County saw only a minor decrease.
What does this mean for you? Well, it depends where you are and what your goals are. Buyers have some amazing opportunities right now. Some sellers still don't believe that prices have fallen and may sit on the market hoping to get prices from several years ago. If you're upsizing, this is an opportunity market. There's some speculation that interest rates have remained flat long enough and may be subject to increase in the coming months. A conversation with me can help you figure out where the opportunities are in this market and help you establish your priorities and goals.
*The statistics provided in this report are based on information from the ITSO MLS® System. Multiple MLS® Systems operate within Ontario, and while none can be guaranteed to include every property listed or sold within a given area, they effectively illustrate market trends.
