The February numbers are in for the Centre Wellington real estate market, and the latest report highlights a market that continues to move at a more measured pace compared to last year. While one statistic might suggest prices increased, a closer look at the data tells a more nuanced story.

Overall, the market is seeing slower sales activity, longer timelines, and slightly softer typical home prices, all signs that buyers continue to have more breathing room than they did a year ago.

Typical Home Prices Ease Year Over Year

Looking at the median sale price — often the best indicator of what a “typical” home is selling for — prices actually declined compared to last February.

The median sale price in February 2026 came in at $768,500, down from $813,750 in February 2025. This suggests that, on average, homes in the middle of the market are selling for less than they were a year ago.

At the same time, the average sale price increased year-over-year, rising to $887,759. However, that increase is largely the result of three properties selling for more than $2 million, which pulled the overall average upward.

Without those high-end transactions, the average sale price would likely tell a very different story — reinforcing the softer trend shown by the median price.

Sales Activity Slows

Home sales were also lower compared to the same time last year.

A total of 27 homes sold in February 2026, down from 30 sales in February 2025. That represents roughly a 10% decline in sales activity.

Even with fewer homes selling, the total dollar volume of sales increased slightly year-over-year, reaching just under $24 million, largely due to those higher-value transactions.

More Listings Hitting the Market

Inventory saw a small increase compared to last year.

74 new listings came onto the market in February, a 4% increase from February 2025. More listings give buyers additional options and contribute to the continued shift toward more balanced market conditions.

At the same time, expired listings rose year-over-year, which suggests some sellers are still adjusting expectations as the market evolves.

Homes Taking Longer to Sell

Another clear shift from last year is how long homes are taking to sell.

The average days on market increased to 63 days, which is 26 days longer than February 2025. This reflects a market where buyers are taking more time to evaluate options and negotiate before making a purchase.

What This Means for Buyers and Sellers

For buyers, today’s market offers more choice and more time to make decisions than we’ve seen in recent years. With inventory gradually increasing and homes staying on the market longer, buyers often have greater negotiating power.

For sellers, the key remains pricing and presentation. Well-priced homes are still selling, but buyers are being more selective than they were during the more competitive markets of previous years.

The Big Picture

While a few luxury home sales pushed the average price higher, the decline in the median price and slower sales activity suggest the broader market has cooled slightly.

As we move closer to the spring real estate season — typically the busiest time of year — the coming months will reveal whether increased listings bring more activity or further reinforce the buyer-friendly conditions currently shaping the Centre Wellington market.

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