The first real estate numbers of 2026 are in, and January paints a clear picture of a market that continues to favour buyers, even as select segments show resilience. Compared to January of last year, we’re seeing softer demand overall, longer selling timelines, and pricing trends that tell two very different stories depending on where you look.

Prices Show a Split Market

One of the most noticeable year-over-year changes in January is the widening gap between median and average sale prices.

The median sale price fell nearly 14% from last January to $753,500, pointing to softer conditions in the core of the market.

At the same time, the average sale price increased more than 12%, rising to $947,640.

This contrast suggests that while fewer typical, mid-range homes are selling, a handful of higher-end transactions are having an outsized impact on overall pricing averages.

Sales Activity Remains Muted

January sales activity was modest and slightly lower than this time last year:

22 homes sold, down marginally from 23 sales in January 2025.

Despite fewer transactions, total sales volume rose 7.3% year-over-year, reaching $20.85 million.

In other words, fewer homes sold — but at higher price points.

Inventory Pulls Back, But Buyer Leverage Remains

Inventory levels eased compared to last January:

New listings declined nearly 16%, with just 58 homes coming to market.

Expired listings edged higher, a sign that some sellers are still struggling to align pricing with buyer expectations.

Even with fewer new listings, the sales-to-listings ratio dropped to 31.9%, confirming that Centre Wellington remains firmly in buyer’s-market territory. Supply may be tighter than last year, but demand has softened even more.

Homes Are Taking Longer to Sell

Another key year-over-year change is the pace of the market:

Average days on market climbed to 78 days, up 26 days from January 2025.

Buyers are clearly taking their time, and sellers should expect longer marketing periods — especially if pricing isn’t dialed in.

What’s Selling So Far in 2026

Early sales data shows activity concentrated at the edges of the market:

Fewer sales in the $750K–$1M range

More movement under $750K and above $1M

Luxury properties ($2M+) made up a larger share of January’s activity than last year

This helps explain why average prices rose even as median prices declined.

What This Means for Buyers & Sellers

For buyers: January continues to offer strong negotiating power, less competition, and plenty of time to make informed decisions.

For sellers: Buyers are selective. Homes that are well-priced and well-presented are selling — others are sitting.

Bottom line: Compared to January 2025, Centre Wellington has entered 2026 with softer demand, longer selling timelines, and buyer-friendly conditions firmly in place. While high-end sales are keeping average prices elevated, the broader market remains cautious as the year gets underway.

Full Report: Royal LePage® Royal City, Brokerage. Centre Wellington Market Report. January 2025: