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.
Demand for MLS® listed homes softens in August
The number of homes sold in Norfolk County via the MLS® System of the Cornerstone Association of REALTORS® (Cornerstone) totaled 90 units in August 2025. This was up by 4.7% (four sales) from August 2024.
Home sales were 3.4% below the five-year average and 15.8% below the 10-year average for the month of August.
On a year-to-date basis, home sales totaled 688 units over the first eight months of the year. This was a minor decrease of 3% from the same period in 2024.
“Sales were up from last year, though a touch softer than usual for August. What really stands out are listings, the number of newly listed properties hit the highest August total on record, while active listings are sitting well above the historical norm for this time of year,” said Drew Hemsley, Cornerstone spokesperson for the Norfolk County market area. “The MLS® HPI Composite Benchmark Price held steady compared to a year ago and has ticked up marginally from the end of 2024. Although new listings outpaced sales by more than two to one and overall supply was higher than average for a typical August, our local market remains in balanced territory.”
The MLS® Home Price Index (HPI) tracks price trends far more accurately than is possible using average or median price measures. The overall MLS® HPI composite benchmark price was $553,600 in August 2025, nearly unchanged, down only 0.4% compared to August 2024.
The benchmark price for single-family homes was $554,000, essentially unchanged, down just 0.3% on a year-over-year basis in August. By comparison, the benchmark price for townhouse/row units was $513,900, a moderate decrease of 6.4% compared to a year earlier.
The average price of homes sold in August 2025 was $641,434, a moderate gain of 5.1% from August 2024.
The more comprehensive year-to-date average price was $628,106, decreasing by 1.4% from the first eight months of 2024.
The dollar value of all home sales in August 2025 was $57.7 million, a gain of 10% from the same month in 2024.
The number of new listings was up by 10% from August 2024. There were 231 new residential listings in August 2025. This was also the largest number of new listings added in the month of August in history.
New listings were 23.5% above the five-year average and 36.6% above the 10- year average for the month of August.
Active residential listings numbered 592 units on the market at the end of August, an increase of 9% from the end of August 2024. Active listings haven’t been this high in the month of August in more than a decade.
Active listings were 49.3% above the five-year average and 77.1% above the 10- year average for the month of August.
Months of inventory numbered 6.6 at the end of August 2025, up from the 6.3 months recorded at the end of August 2024 and above the long-run average of 3.4 months for this time of year. The number of months of inventory is the number of months it would take to sell current inventories at the current rate of sales activity.
Cornerstone Association of REALTORS® (Cornerstone) is a not-for-profit organization with over 325 years of collective service from its founding associations. Established on July 1, 2024, Cornerstone leads with purpose, advocates boldly, and creates positive change for the success of our members throughout Mississauga, Burlington, Hamilton, Waterloo Region, Niagara North, Haldimand County, Norfolk County, and surrounding areas. With nearly 8,000 members, Cornerstone is the second-largest REALTOR® association in Ontario, dedicated to promoting the greater good of the real estate community.
To learn more, visit CORNERSTONE INC.
