Average sale price, Sudbury Real Estate Board
$501,913, down 0.7%As of October 2026.Source
MLS HPI benchmark, Sudbury Real Estate Board, change from October 2025
$456,500, down 9.9%As of October 2026.Source
Months of inventory, Sudbury board area
2.9, up from 2.6As of October 2026.Source
Population of the City of Greater Sudbury
166,004As of 2021 Census.Source
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Greater Sudbury counted 166,004 residents in 2021 across 3,186 square kilometres, a very large city by area. That spread matters for lenders, because many homes sit far from the core.

Sudbury’s $456,500 benchmark and a 9.9% drop

The Sudbury Real Estate Board reported 244 sales, down 2.4% from a year earlier, and an average price of $501,913, down 0.7%. New listings were 344 and active listings were 709, up 7.1%. Months of inventory was 2.9, up from 2.6.

Then the odd part. The MLS HPI benchmark was $456,500, down 9.9% from October 2025. A small move in the average and a large fall in the benchmark is a mixed signal, and a lender’s appraiser will usually trust the benchmark’s direction.

Tight supply does not mean rising values

A low supply of homes means listings sell. For a private lender that is reassuring: if the loan goes wrong, the home should find a buyer. It does not tell you whether the price will hold. The benchmark’s 9.9% drop is the number to take seriously.

Sudbury’s October figures describe a market where sales continue while the benchmark steps down.

How a falling benchmark eats room

The 80% limit the Financial Consumer Agency of Canada describes is unforgiving when values fall. At the average price, a Sudbury owner with a $300,000 mortgage has $101,530 of room. The second example above shows the other side. An owner with a $370,000 mortgage on a home valued at $480,000 a year ago had $14,000 of room. After a 9.9% fall, the same home sits $24,016 over the ceiling.

If you bought or refinanced within the last two years, find out your current value before asking for a loan. The calculator lets you test a lower value.

Shift pay, overtime and self-employment

We did not open a sourced list of Sudbury employers, so this page names none. Whatever the industry, a lender asks how your pay is made up and how long you have earned it.

Shift premiums, overtime, contract work and small-business income are each counted differently by lenders. If your pay is not a simple salary, read the self-employed page. A private lender may consider the property more heavily than a bank would, and charges for it.

Space, services and tax bills

Sudbury is geographically huge, and many homes are on large lots. The rural property page covers wells, septic and acreage, and why some lenders decline them. If you have a tax bill you cannot pay, the property tax arrears page explains what the municipality can do and when to act. If your credit has taken a hit, the bad credit page sets out what that tends to cost.

If the home sits on a private well or septic system, ask each lender whether it lends on that type of property before you pay for an appraisal, and keep your latest tax bill and mortgage statement ready.

Fees and the arrears picture for Sudbury

Ontario’s land transfer tax applies on a purchase. We found no such tax for registering a second mortgage, as the Ontario page sets out. Budget for an appraisal, legal fees, the registration fee and any lender or broker fee.

CMHC’s October 2026 release put Ontario arrears at 0.32% in the second quarter of 2026 and said the pressure is concentrated in the Greater Toronto and Hamilton Area and Southwestern Ontario. It did not name Sudbury or Northern Ontario.

Slow growth of 2.8% and what it means for resale

Greater Sudbury added 2.8% between the 2016 and 2021 Censuses, from 161,531 to 166,004 residents, and the census metropolitan area grew 2.8% to 170,605. The city had 75,967 private dwellings in 2021, 71,476 occupied.

Slow growth plus a falling benchmark means fewer buyers bidding up prices. A lender knows that, and so should you. If you are thinking of borrowing against a Sudbury home to renovate and sell, check what comparable renovated homes sold for, not what you hope to get. Add the cost of the work, the interest on the loan while you finish and the fees to sell, then see whether the sale price still covers them with something left over.

Verifying a Sudbury agent’s licence

Ontario’s private lenders are reached through Level 2 agents and brokers, so ask for the licence number and verify it. With your Sudbury numbers prepared, the options form is one way to get a licensed review.

A Sudbury home at the October 2026 average price

The $501,913 value is the October 2026 average sale price for the Sudbury Real Estate Board, used as a stand-in for an appraisal. The $300,000 first mortgage and $50,000 new loan are made up. The 80% ceiling is the FCAC limit for second mortgages.

Home value used
$501,913
Equity before the loan
$201,913

$501,913 minus $300,000

80% of the home value
$401,530

$501,913 x 0.8

Combined loan-to-value with a $50,000 loan
69.7%

$350,000 divided by $501,913

Room under an 80% ceiling before the loan
$101,530

A $50,000 loan fits with $51,530 of room left. That is a sound margin if values keep drifting down.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

A Sudbury home when the benchmark falls 9.9%

All figures are made up except the 9.9% year-over-year fall in the Sudbury Real Estate Board benchmark price for October 2026. Applying a market-wide fall to one home is only a rough guide. The home was appraised at $480,000 a year ago and the first mortgage is $370,000.

Value a year ago
$480,000
Room under 80% a year ago
$14,000

$384,000 minus $370,000

Value after a 9.9% fall
$432,480

$480,000 x 0.901

80% of the lower value
$345,984
Room under 80% now
None, $24,016 over

A fall of $47,520 in value turned a thin $14,000 of room into a $24,016 shortfall. A homeowner whose first mortgage is large should check the number before planning around last year's valuation.

Illustration only. The figures are made up to show the arithmetic. They are not a quote, a rate or an offer.

Questions people ask

Why would the Sudbury benchmark fall almost 10% while the average barely moved?

The benchmark follows a typical home over time, and the average follows whichever homes sold. In October 2026 the Sudbury average slipped 0.7% while the benchmark dropped 9.9%. An appraiser may side with the benchmark.

Does shift work make a Sudbury lender more cautious?

Lenders look at your own income and property. Shift work, overtime and contract income are each treated differently, so bring two years of pay records and ask what each lender will count.

How large is the area a Sudbury lender has to cover?

Very large. The 2021 Census puts Greater Sudbury at 3,186 square kilometres, with about 52 people per square kilometre. Many homes sit outside the core, on wells and septic, and lenders ask about that. Ask early whether a lender covers your area.

Could a second mortgage clear overdue property tax in Sudbury?

It can be done, but read the property tax arrears page first. The municipality can add penalties and can eventually start a tax sale, so moving quickly matters. Ask a lawyer how much time you have before you commit to a loan.

Why does Sudbury have so few months of supply?

The Sudbury board showed 2.9 months of inventory in October 2026, up from 2.6. That is a low number, meaning listings are sold quickly relative to supply. It does not mean prices are rising, since the benchmark fell.

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Sources