Ontario Housing Market Update: Waterloo Region, Halton Region & Peel Region
Ontario Housing Market Update: Waterloo Region, Halton Region & Peel Region
GTA-wide sales jumped 9.4% year-over-year in June, but prices are still falling almost everywhere. Here's what actually happened, area by area.
- Sales are recovering faster than prices. GTA-wide home sales rose 9.4% year-over-year in June, even as the MLS® HPI composite benchmark fell 5.39% to $940,800.
- Every area covered here posted a year-over-year price decline, ranging from Burlington's comparatively mild -1.99% to Caledon's -8.27%, the steepest drop in this update.
- Oakville remains the priciest market studied at a $1,163,100 benchmark; Kitchener-Waterloo is the most affordable at roughly $642,000.
- New listings fell in every region, tightening supply even while prices stayed soft, a combination that rarely lasts long.
- Homes are sitting longer. Average days on market ranged from the high-20s in Burlington and Halton Hills to the high-40s in Caledon and Mississauga.
Across Waterloo Region, Halton Region, and Peel Region, June 2026 told a two-speed story. Buyers came back to the table (GTA-wide sales climbed 9.4% year-over-year), but sellers are still adjusting expectations, with benchmark prices down everywhere from roughly 2% to 8%. Peel and Caledon saw the sharpest price corrections; Burlington held up best. Waterloo Region's Kitchener-Waterloo and Cambridge markets remain the most affordable of the group, both still softening on a year-over-year basis.
The Bigger Picture: GTA Sales Up, Prices Still Down
The Toronto Regional Real Estate Board (TRREB) reported 6,770 home sales across the Greater Toronto Area in June 2026, up 9.4% from 6,191 a year earlier. New listings told the opposite story, falling 12.9% year-over-year to 17,282, and active listings dropped 13.5% to 27,329, a combination TRREB says points to conditions "tightening through the spring."
TRREB President Daniel Steinfeld called June "a marked improvement" following a slow first quarter, consistent with the board's 2026 outlook for "a year of two halves": softer early, stronger and more price-supportive in the back half as pent-up demand works through the market.
Waterloo Region: Kitchener-Waterloo & Cambridge
Waterloo Region isn't part of TRREB's coverage area, so its numbers come from the Cornerstone Association of REALTORS®, which reports Kitchener-Waterloo and Cambridge as part of its broader multi-region MLS® System. Across Cornerstone's full coverage area (which also spans Burlington, Hamilton, Haldimand County, Niagara North, Norfolk County, and Mississauga), June brought 1,699 home sales, up 0.8% from May and 0.7% year-over-year, the first sign of stability after one of the slowest Mays on record. New listings fell 8.5% year-over-year to 3,733, and the region carried a 4.8-month supply of inventory, down 2.0% from a year earlier.
Both sub-markets remain the most affordable in this update by a wide margin: Kitchener-Waterloo's benchmark sits roughly $200,000 below Halton Hills, the next-cheapest area covered here. Cornerstone's public release doesn't break out sales counts or new listings at the sub-area level, only benchmark pricing, so a direct sales comparison to Halton and Peel isn't possible from this data. Worth flagging if you're weighing relative market heat rather than just price.
Halton Region: Burlington, Oakville, Milton & Halton Hills
Halton Region posted 785 sales in June on 1,846 new listings, with 2,827 active listings translating to 4.3 months of inventory, tighter than Peel and looser than the GTA's tightest submarkets. The region's composite benchmark sat at $982,400, down 4.10% year-over-year, the mildest regional decline of the three areas in this update.
| Municipality | Sales | Avg. Price | HPI Benchmark | YoY % Chg. | Mos. Inventory | Avg. Days on Mkt |
|---|---|---|---|---|---|---|
| Burlington | 279 | $1,149,952 | $871,400 | -1.99% | 3.6 | 27 / 38 |
| Halton Hills | 62 | $975,048 | $998,100 | -5.08% | 4.0 | 26 / 37 |
| Milton | 147 | $998,770 | $877,300 | -4.84% | 3.9 | 30 / 44 |
| Oakville | 297 | $1,454,094 | $1,163,100 | -6.00% | 5.1 | 29 / 42 |
| Halton Region (total) | 785 | $1,222,898 | $982,400 | -4.10% | 4.3 | 28 / 41 |
Burlington was the standout: the only municipality across all three regions in this update where the average sale price actually rose year-over-year, even as its HPI benchmark ticked down just 1.99%, the smallest decline of any area covered here. Oakville remains the most expensive market in the region by a wide margin, and also carries the most inventory relative to sales at 5.1 months, giving buyers there noticeably more room to negotiate than in Burlington or Halton Hills.
Peel Region: Mississauga, Brampton & Caledon
Peel Region logged 1,167 sales against 3,267 new listings in June, with 5,189 active listings pushing months of inventory to 5.1, the loosest of the three regions covered here. The composite benchmark came in at $884,100, down 6.42% year-over-year, and Caledon's -8.27% was the single steepest decline in this entire update.
| Municipality | Sales | Avg. Price | HPI Benchmark | YoY % Chg. | Mos. Inventory | Avg. Days on Mkt |
|---|---|---|---|---|---|---|
| Brampton | 518 | $888,203 | $847,800 | -6.70% | 5.1 | 29 / 47 |
| Caledon | 82 | $1,125,065 | $1,088,100 | -8.27% | 6.7 | 33 / 47 |
| Mississauga | 567 | $1,014,120 | $887,200 | -6.05% | 4.9 | 29 / 47 |
| Peel Region (total) | 1,167 | $966,024 | $884,100 | -6.42% | 5.1 | 29 / 48 |
Mississauga did the heavy lifting, accounting for nearly half of Peel's total sales. Caledon is the outlier to watch: a small sales base (82 transactions) combined with the region's longest sell times and largest inventory cushion (6.7 months) means its benchmark price is more volatile month to month than Brampton's or Mississauga's larger, more liquid markets.
All Three Regions, Side by Side
| Area | Benchmark Price | YoY % Chg. | Sales | Mos. Inventory |
|---|---|---|---|---|
| All TRREB Areas (GTA) | $940,800 | -5.39% | 6,770 | 4.7 |
| Halton Region | $982,400 | -4.10% | 785 | 4.3 |
| Burlington | $871,400 | -1.99% | 279 | 3.6 |
| Halton Hills | $998,100 | -5.08% | 62 | 4.0 |
| Milton | $877,300 | -4.84% | 147 | 3.9 |
| Oakville | $1,163,100 | -6.00% | 297 | 5.1 |
| Peel Region | $884,100 | -6.42% | 1,167 | 5.1 |
| Brampton | $847,800 | -6.70% | 518 | 5.1 |
| Caledon | $1,088,100 | -8.27% | 82 | 6.7 |
| Mississauga | $887,200 | -6.05% | 567 | 4.9 |
| Waterloo Region, Kitchener-Waterloo* | $642,000 | -5.5% | — | — |
| Waterloo Region, Cambridge* | $671,000 | -6.6% | — | — |
*Sales and inventory figures aren't broken out by sub-area in Cornerstone's public release, only benchmark pricing is available for Kitchener-Waterloo and Cambridge individually.
What This Means If You're Buying or Selling
For buyers
This is still a negotiating environment almost everywhere in this update. Months of inventory above 4 in every region, and above 5 in Peel, Oakville, and especially Caledon, means list price is a starting point, not a floor, in most of these markets. Burlington is the exception worth watching: its price decline was the smallest of any area here, a sign that competitive pockets are already starting to firm up.
For sellers
Pricing to the current benchmark, not last year's, matters more than ever. The gap between average sale price and HPI benchmark in areas like Oakville and Caledon shows how much a handful of high-end transactions can skew a headline number; the benchmark is the more reliable read on what a typical, similar home is actually worth today. Homes are also taking longer to sell in slower submarkets (Caledon and Mississauga both averaged around 47-48 days), so pricing and presentation matter more at listing than they did a year or two ago.
If sales momentum carries into the second half of the year as TRREB's outlook suggests, current conditions may be the last window where buyers hold this much leverage.
Frequently Asked Questions
Are home prices falling in Peel Region in 2026?
Yes. TRREB's MLS® HPI composite benchmark for Peel Region was $884,100 in June 2026, down 6.42% year-over-year, the steepest of the three regions in this update, driven mainly by Caledon's 8.27% decline. Sales volume rose even as prices continued to soften.
Is Halton Region a buyer's market or a seller's market right now?
Halton is trending toward balanced-to-buyer conditions: 4.3 months of inventory region-wide, with Oakville alone at 5.1 months. Homes sold for an average of 97% of list price, giving buyers modest but real negotiating room, except in tighter pockets like Burlington, where prices have held up best.
What's happening in the Waterloo Region housing market?
Kitchener-Waterloo's benchmark price was $642,000 in Cornerstone's latest report, down 5.5% year-over-year; Cambridge sat at $671,000, down 6.6%. Across Cornerstone's broader coverage area, sales edged up 0.7% year-over-year in June while new listings fell 8.5%, pointing to a market that's tightening on supply even as prices keep adjusting down.
Will GTA home prices recover in the second half of 2026?
TRREB's own outlook calls for "a year of two halves": a slower first half followed by accelerating transactions and more buyer competition in the back half of 2026 that could eventually support price growth. June's 9.4% year-over-year sales increase is the clearest sign yet that demand is returning, though prices haven't followed suit yet.
Thinking about buying or selling in one of these markets?
Every one of these areas is moving differently right now: what's true for Caledon isn't true for Burlington, and a Kitchener-Waterloo strategy won't work in Oakville. I blend financial insight with local market expertise to help buyers, sellers, and investors move with clarity and confidence, wherever you're located across the region. Reach out and let's talk through your specific street, not just the headline numbers.
Sources: Toronto Regional Real Estate Board, Market Watch, June 2026 (published July 3, 2026), including the Halton Region, Peel Region, and Home Price Index tables. Cornerstone Association of REALTORS®, Real Estate Market Update, June 2026 (published July 6, 2026). All figures reflect firm transactions and benchmark prices as reported by each board; average and benchmark prices are not directly comparable across boards due to differing methodologies.
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