Real Estate: 1)Homes under $500,000 account for growing proportion of Ontario real estate: report; 2)Collingwood and Gravenhurst cross key affordability threshold as Ontario home values shift, MPAC says

1)Homes under $500,000 account for growing proportion of Ontario real estate: report

Cource Barrie360.com and Canadian Press

By Canadian Press Staff, June 24, 2026

A new report says homes valued under $500,000 are taking up a bigger share of Ontario’s real estate landscape, led by a shift in the condominium market.

New data released by the Municipal Property Assessment Corp. showed those lower-valued homes now account for nearly 24 per cent of Ontario’s real estate market, up from 17 per cent in 2022.

Despite that improvement, which MPAC said signals “a rebalancing in the housing market,” the report said the share of homes priced below $500,000 is still well below that of a decade ago when they made up 67 per cent.

“The past decade has reshaped Ontario’s housing market, and while prices remain elevated, there have been corrections from peak conditions,” said the organization’s chief assessor and data officer Greg Martino in a news release.

The share of homes valued over $1 million has dropped from the 2022 peak of 35 per cent to about one-quarter today.

Condos account for much of the recent uptick in affordability, with 46 per cent of that housing segment valued under $500,000 in 2026, up from 24 per cent just four years ago.

The report noted other housing types remain less accessible. Just five per cent of townhouses are valued under $500,000 today, up from the 2022 low of three per cent but down sharply from 69 per cent in 2016. 

For semi-detached homes, 15 per cent are valued under $500,000, down from 52 per cent in 2016. Across the detached market, 18 per cent are below that price point, down from 60 per cent a decade ago.

More communities throughout Ontario are moving into lower price ranges, according to the data. Between 2022 and 2026, the number of municipalities with a median home value above $750,000 dropped to 65 from 105.

The report said several communities just outside the Greater Toronto and Hamilton Area, where more than half of homes were valued above $750,000 in 2022, now contain a majority of homes under that threshold. Those include Kitchener, Waterloo, Cambridge, Hamilton, Collingwood, Kawartha Lakes, Gravenhurst and Brock.

“For buyers previously priced out of the Toronto area, these shifts may widen the range of communities within reach,” it said.

2)Collingwood and Gravenhurst cross key affordability threshold as Ontario home values shift, MPAC says

Courtesy Barrie360.com

By Logan Miller, June 25, 2026

Collingwood and Gravenhurst are among a growing list of Ontario communities where the majority of homes are now valued under $750,000, a shift that could expand options for buyers who have been priced out of the Toronto area.

That’s according to new data published Tuesday by the Municipal Property Assessment Corporation, which tracks assessed values across the province. Between 2022 and 2026, the number of municipalities where the median home value sits above $750,000 fell to 65 from 105. Both Collingwood and Gravenhurst were above that mark four years ago. Now they’re below it.

Affordability picture improving, but still far from a decade ago

Across Ontario, homes valued under $500,000 now make up nearly 24 per cent of the real estate market, up from 17 per cent in 2022. MPAC described that movement as “a rebalancing in the housing market.”

Still, context matters. In 2016, homes under $500,000 accounted for 67 per cent of Ontario’s market. The current figure is a recovery from the 2022 peak, not a return to normal.

“The past decade has reshaped Ontario’s housing market, and while prices remain elevated, there have been corrections from peak conditions,” said Greg Martino, the organization’s chief assessor and data officer.

The share of homes valued above $1 million has also come down, dropping from 35 per cent at the 2022 peak to about one-quarter today.

Condos leading the shift

Much of the recent movement on affordability is being driven by the condominium segment. In 2026, 46 per cent of condos in Ontario are valued under $500,000, up from 24 per cent in 2022.

Other housing types haven’t moved as much. Just five per cent of townhouses fall below $500,000 today, up slightly from the 2022 low of three per cent but well below the 69 per cent recorded in 2016. Among semi-detached homes, that figure sits at 15 per cent, down from 52 per cent a decade ago. For detached homes, 18 per cent are under $500,000, compared to 60 per cent in 2016.

Communities beyond the GTA becoming more accessible

In addition to Collingwood and Gravenhurst, the MPAC data identified several other communities just outside the Greater Toronto and Hamilton Area where the majority of homes have moved below the $750,000 threshold since 2022. Those include Kitchener, Waterloo, Cambridge, Hamilton, Kawartha Lakes and Brock.

“For buyers previously priced out of the Toronto area, these shifts may widen the range of communities within reach,” the report said.

*With files from CP