Buyer's, seller's and balanced markets
Also called buyer's market, seller's market, balanced market
A seller's market is one where buyers outnumber the homes for sale, so listings sell fast, often above asking, and prices rise. A buyer's market is the reverse: listings outnumber buyers, homes take longer to sell and prices soften. In between, the market is balanced. Which it is gets measured, not guessed, from the ratio of sales to listings.
By the HousingPortal.ca team · Data: each board's latest report · Updated
How it is measured
The usual measure is the sales-to-new-listings ratio, read the way CREA reads it: below 40% a buyer's market, 40% to 60% balanced, above 60% a seller's market. Months of inventory tell the same story from the stock of unsold homes: under four months favours sellers, over six favours buyers. Greater Vancouver uses its sales-to-active-listings ratio, with downward pressure on prices below 12% and upward above 20%.
Our report pages state which it is for each market and area from the board's own measure, and only where there are enough sales to mean something (30 in the month, unless the board smooths the ratio over 12 months). The GTA ranking lists every area by its ratio.
What it means in practice
In a seller's market, buyers face bidding wars, firm offers without conditions and little time to decide; sellers can list high and hold out. In a buyer's market, conditional offers return, inspections and financing conditions are accepted, and a listing that is priced wrong sits. Prices lag the balance by a few months, so the ratio turning is the earliest warning either way.
Different segments of one city can be in different states: condos and detached homes often sit on opposite sides of the line, which is why the reports show the figures by home type where the board publishes them.
Buyer's, seller's and balanced markets in each market now
Of the 11 markets with enough sales to read, 6 favour buyers and 5 are balanced this month.
| Market | Figure | Reading | Note | Month |
|---|---|---|---|---|
| Greater Toronto Area | 37.8% | a buyer's market | sales to new listings, 12-month trend | September 2026 |
| Waterloo Region | 34% | a buyer's market | sales to new listings | September 2026 |
| Hamilton | 36% | a buyer's market | sales to new listings | September 2026 |
| Burlington | 38% | a buyer's market | sales to new listings | September 2026 |
| Ottawa | 34.5% | a buyer's market | sales to new listings | September 2026 |
| Montreal | 41% | a balanced market | sales to new listings | September 2026 |
| Quebec City | 55% | a balanced market | sales to new listings | September 2026 |
| Gatineau | 45% | a balanced market | sales to new listings | Q2 2026 |
| Greater Vancouver | 10% | a buyer's market | sales to active listings | September 2026 |
| Edmonton | 51% | a balanced market | sales to new listings | September 2026 |
| Calgary | 49% | a balanced market | sales to new listings | September 2026 |
Each market's latest report, as each board publishes them; the market pages have the area-by-area figures. Markets whose board does not publish this measure are not listed.
Buyer's, seller's and balanced markets: Quick Answers
Is it a buyer's or seller's market in Canada right now?
It differs by city and by home type, which is why there is no single answer. Each market report on this site states the current balance from its board's figures, and the table on this page lists them all.
How long does a buyer's market last?
Until inventory is worked off: either sales recover or sellers stop listing. Canadian downturns have typically run one to three years from the first buyer's-market reading to a balanced one. Prices usually bottom a few months before the ratio returns to balanced.
Related terms and pages
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