June 3, 2026 – There were 1,657 home sales recorded via the Multiple Listing Service® (MLS®) System of the Cornerstone Association of REALTORS® (Cornerstone) in May 2026, representing a 7.2 per cent increase month-over-month, and a 9.4 per cent decline year-over-year.
“Real estate sales activity has consistently increased since the start of the year; however, May 2026 marks one of the slowest months on record across our market areas. While overall activity has not yet reached the levels we have seen in previous years, the monthly gains since January represent steady growth and signal a gradual return of buyer confidence,” says Bill Duce, CEO of Cornerstone. “Across many of our market areas, the Home Price Index (HPI) remains stable month-over-month, inveHntory sits at a balanced 4.7-month supply, and homes are selling quicker each month since January. The market is not where it was in previous spring seasons, but it is moving in the right direction, and a local REALTOR® is your best resource to navigate the local market.”
The HPI composite benchmark declined year-over-year across Cornerstone’s major market areas, while many areas saw minimal month-over-month changes in many areas.
The Composite MLS® Home Price Index (HPI) Benchmark Price by market area:
| Area | HPI Benchmark May 2026 | Monthly % Change | Yr./Yr. % Change |
|---|---|---|---|
| Burlington | $895,800 | +2.3% | -3.3% |
| Cambridge | $676,100 | -1.4% | -7.2% |
| Haldimand County | $645,100 | +0.1% | -5.4% |
| Hamilton | $687,300 | +0.2% | -6.8% |
| Kitchener-Waterloo | $649,200 | -0.2% | -6.5% |
| Mississauga | $955,500 | -0.3% | -7.9% |
| Niagara North | $685,000 | +0.2% | -6.1% |
| Norfolk County | $552,500 | -1.7% | -4.7% |
There were 3,781 new listings added to Cornerstone’s MLS® System last month, a decline of 18.6 per cent year-over-year, and a decrease of 0.8 per cent over April 2026.
The total inventory across Cornerstone’s market areas increased 8.2 per cent over the previous month and represents an 8.7 per cent decrease year-over-year. There was a 4.7-month supply at the end of May, representing a 2.1 per cent decrease year-over-year. The number of months of inventory represents the time it would take to sell the current inventory at the current sales rate.
In May, the average days on the market across all Cornerstone market areas was 32, compared to 34 days in April 2026.
For in-depth market coverage, please follow these links:
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.
Crystal Henderson, Chief Stakeholder Officer
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.
More information at www.cornerstone.inc
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
