March brought another month of buyer-friendly conditions to the Centre Wellington real estate market, with softer prices, fewer sales, and homes taking longer to sell compared to this time last year.

While inventory levels remained steady, demand was clearly lower than it was in March 2025, giving buyers more time and flexibility in their search.

Home Prices Continue to Soften

March saw declines in both average and median home prices year-over-year.

The median sale price dropped to $767,500, down just over 12% from March 2025. Since the median price often gives the clearest picture of what a typical home is selling for, this suggests the middle of the market has softened noticeably over the past year.

The average sale price also declined, falling 7.3% to $861,347. Unlike February, where a few luxury sales pushed the average higher, March saw softer pricing across the board.

Fewer Homes Selling

Sales activity slowed compared to last year.

A total of 36 homes sold in March, down from 42 sales in March 2025. That’s a decline of just over 14%.

Because fewer homes sold and prices were lower overall, total sales volume also dropped significantly, falling more than 20% year-over-year to just over $31 million.

Inventory Holds Steady

One of the more interesting parts of March’s report is that new listings were unchanged from last year.

A total of 103 new listings came onto the market in March — exactly the same number as March 2025.

However, despite stable inventory, the sales-to-new-listings ratio dropped to just under 35%, down significantly from last year. That ratio remains well below the threshold typically associated with a balanced market, confirming that Centre Wellington continues to favour buyers.

Expired listings also remained unchanged year-over-year, suggesting sellers are adjusting to current market conditions and pricing expectations.

Homes Are Taking Longer to Sell

Properties are continuing to sit on the market longer than they were a year ago.

The average days on market increased to 56 days, up roughly 10 days from March 2025.

This tells us that buyers are taking more time to make decisions, compare options, and negotiate before moving forward.

What This Means for Buyers and Sellers

For buyers, March continues to offer more opportunity than we saw during the more competitive years of the market. Inventory is stable, homes are taking longer to sell, and there is often more room to negotiate.

For sellers, pricing remains extremely important. Buyers are still active, but they are being selective. Homes that are priced well and show well are still moving, while overpriced homes may sit longer.

The Big Picture

March 2026 reinforced the same trend we’ve been seeing for the past several months: a slower market that continues to favour buyers.

With prices softening, fewer homes changing hands, and more time required to sell, Centre Wellington’s market remains less competitive than it was a year ago.

As we move deeper into the spring market, it will be interesting to see whether more buyers return or whether these buyer-friendly conditions continue through the busy season.

Full Report: Royal LePage® Royal City, Brokerage. Centre Wellington Market Report. March 2026: