The housing market in Norfolk County, Ontario, showed renewed energy in September 2025, as both sales and new listings moved upward, while prices held steady.
Sales Strengthen
Home sales in Norfolk County climbed sharply, rising 23.3% compared to September 2024 and marking the strongest month since May and the best September since 2021. Activity also sat more than 22% above the five-year average for September, underscoring stronger-than-usual demand heading into fall. Year-to-date sales remained virtually unchanged from 2024, showing that the September rebound helped stabilize overall annual performance.
Rise in Listings
Sellers returned to the market in large numbers, with new listings up 28.4% year-over-year and exceeding the five-year average by more than one-third. The September total represented the highest number of new listings ever recorded for the month. Active inventory rose 11% from last year and now sits roughly 49% above the five-year average, reflecting a deep pool of available homes for buyers to choose from.
Even with this influx, months of inventory declined slightly from 6.0 to 5.4, suggesting that stronger demand helped absorb some of the additional supply. The market remains looser than historical norms, and still above the long-term average of 3.5 months, but it has begun to edge toward balance.
Prices Hold Steady Despite More Supply
Home prices in Norfolk showed modest downward adjustment compared to a year earlier. The MLS® Home Price Index composite benchmark stood at $560,200, down 4.3% year-over-year. Single-family homes followed closely with a 4.2% dip, while townhouse and row units saw a larger 9.7% decline. The average sale price for all homes was $628,948, a 2.2% reduction from September 2024. However, that figure remains 24% higher than five years ago and more than 130% higher than a decade ago, highlighting how far the market has advanced over the long term.
Market Conditions
The sales-to-new-listings ratio in September settled at roughly 44%, reflecting continued buyer advantage but showing gradual tightening from earlier in the year. Compared with 2024, the ratio and months-of-inventory figures suggest a market in transition that is still buyer-friendly but showing signs of stabilization. Drew Hemsley, Cornerstone’s spokesperson for the area, summarized the trend as “a market that continues to favour buyers but is slowly inching toward more balanced conditions”.
Norfolk County’s September 2025 data portrays a market regaining momentum. Sales volumes are up sharply, inventory remains high but manageable, and prices have softened only slightly at a time when many parts of Canada have seen declines. The overall tone is one of gradual normalization, as buyers retain leverage, but the renewed pace of transactions and consistent pricing hint at an approaching equilibrium as fall progresses.