August Home Sales Hit Decade Low as Benchmark Prices Show Modest Monthly Movement
In August 2026, 1,258 home sales were recorded through the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone), a 19.0 per cent decline from July and a 13.0 per cent 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.”
The HPI composite benchmark was largely unchanged month-over-month, except in Norfolk County, which posted a 2.7% increase from July. On a year-over-year basis, each major Cornerstone market declined, though Burlington and Norfolk County saw only a minor decrease.
The Composite MLS® Home Price Index (HPI) Benchmark Price by market area:
| Area | HPI Benchmark August 2026 | Monthly % Change | Yr./Yr. % Change |
| Burlington | $875,700 | +0.2% | -1.7% |
| Cambridge | $666,400 | +0.7% | -4.2% |
| Haldimand County | $642,000 | -0.4% | -4.9% |
| Hamilton | $670,600 | -0.5% | -5.0% |
| Kitchener-Waterloo | $628,300 | -0.8% | -6.0% |
| Mississauga | $913,300 | -1.2% | -5.5% |
| Niagara North | $678,400 | +0.3% | -7.1% |
| Norfolk County | $565,400 | +2.7% | -1.9% |
There were 2,492 new listings added to Cornerstone’s MLS® System in August, a 20.8 per cent decline from the previous month and a 15.5 per cent decline from August 2025.
The total inventory across Cornerstone’s market areas decreased 7.2 per cent from the previous month and dropped 8.3 per cent year-over-year. There was a 4.3-month supply at the end of August, which was unchanged from the same period last year. The number of months of inventory represents the time it would take to sell the current inventory at the current sales rate.
In August, the average days on market across all Cornerstone market areas was 42, compared with 38 days in the previous month and 37 days in August 2025.
View our HPI tool to explore HPI or Benchmark Prices across property types and additional areas.
Links to monthly Market Indicator Reports will be posted on the 5th of each month
Cornerstone cautions that average sale price information can help identify long-term trends but should not indicate that specific properties have increased or decreased in value. The average sale price is calculated based on the total dollar volume of all properties sold. Months’ Supply is the inventory of homes for sale at the end of a given month, divided by the average monthly closed sales from the last 12 months. Those requiring specific information on property values should contact a local REALTOR®. Local REALTORS® have their fingers on the pulse of the market. They know the questions to ask, the areas to probe and what to look for to get a complete picture of the property and community you’re considering.
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 Burlington, Haldimand County, Hamilton, Mississauga, Niagara North, Norfolk County, Waterloo Region and surrounding areas.
With approximately 7,500 members, Cornerstone is the second-largest REALTOR® association in Ontario, dedicated to promoting the greater good of the real estate community.
SOURCE, CORNERSTONE
To learn more, visit CORNERSTONE ASSOCIATION OF REALTORS®
