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Aug 07
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Bright Toronto living room with a framed gallery wall and brass floor lamp

Toronto Real Estate Market Update: July 2026

By Monthly Market Updates

The World Cup crowds have cleared out of Exhibition Place, BMO Field is back to being BMO Field, and Toronto’s real estate market spent July doing what it does best: quietly tightening, month after month, without much fanfare 🙁

This latest monthly market update covers the sixth straight month of that trend, and while sales cooled slightly from June’s post-tournament rush, there was some welcomed excitement in condo world!

The Headline Numbers

Here’s how the year has unfolded so far:

MonthSalesNew ListingsActive ListingsAvg. Price
January3,08210,77417,975$973,289
February3,86810,70519,314$1,008,968
March5,03914,44221,596$1,017,796
April5,94617,09725,110$1,051,969
May6,58317,69826,927$1,069,700
June6,77017,28227,329$1,058,658
July5,99514,48426,098$1,003,956

Toronto and GTA realtors reported 5,995 sales in July, which was essentially flat compared to July 2025 (down just 0.9%), while new listings fell sharply, down 17.8% year-over-year. Month-over-month, sales eased 11.5% and new listings dropped 16.2%, which is a normal summer slowdown — but new listings pulled back even faster than sales did, and that’s the part worth paying attention to.

Prices: Getting Closer to Level

The average selling price came in at $1,003,956 in July, down 4.5% from a year ago. That’s a familiar gap by now, but the trend underneath it keeps improving: the MLS HPI Composite benchmark was down 4.6% year-over-year, a smaller decline than June’s 5.4%, and the smallest we’ve seen in months.

TRREB President Daniel Steinfeld put it plainly: with sales now making up a bigger share of listings, buyers have less room to negotiate than they did earlier this year, and prices could start to level off if that pattern holds. TRREB’s Chief Information Officer Jason Mercer added a more optimistic note: recent readings on economic growth and jobs have surprised to the upside, which could help nudge more buyers off the sidelines this fall, especially if prices finish stabilizing.

How Each Home Type Performed (City of Toronto)

In the City of Toronto, 2,242 homes sold in July — up 2.4% from 2,190 a year ago — at an average price of $1,010,836, down 3.3% from July 2025. New listings fell hard, down 17.2% year-over-year to 4,980.

By home type within the 416:

Home TypeJuly Sales (416)Avg. Price (416)Sales vs. July 2025
Detached691$1,547,928+2.4%
Semi-Detached233$1,122,326-7.5%
Townhouse249$867,635+7.8%
Condo Apartment1,054$672,807+2.5%

Condos deserve their own callout this month. At $672,807, July was the segment’s second-strongest average price of the year — trailing only May’s $673,841. And with 1,054 units sold, this marks the fourth consecutive month that Toronto condo sales have topped 1,000 (April: 1,054; May: 1,009; June: 1,124; July: 1,054). For a segment that spent most of the last two years as the market’s slowest mover, four straight months of sustained demand is trend we hope to see continue into the fall market.

Toronto Real Estate Market Update: July 2026

Rates Hold Again — Six in a Row

The Bank of Canada held its policy rate at 2.25% on July 15 — the sixth consecutive hold. The Bank’s language struck a slightly more upbeat tone than earlier in the year: growth is picking up, and inflation is expected to ease gradually, though risks tied to the Middle East conflict and U.S. trade policy remain on the radar. The next scheduled announcement is September 2.

Year-to-Date Snapshot

Through the first seven months of 2026, GTA sales sit at 37,105 — up slightly from 36,891 over the same stretch in 2025. New listings remain the bigger story: down to 102,566 from 120,911, a drop of more than 15%. Average price for the year so far is $1,032,207, down 5.1% from 2025’s YTD figure.

My Take

Six straight rate holds, a shrinking price decline, and a condo segment that’s finally showing signs of life are all trends we’re glad to be seeing. New listings falling faster than sales is exactly the kind of setup that tends to firm up prices, and if the improving economic data Mercer pointed to keeps holding, don’t be surprised if the “leveling off” TRREB has been forecasting shows up before the year is out… provided no new curve balls are delivered from our neighbours in the south.

For buyers, the message hasn’t changed much: conditions are still workable, but they won’t stay this way indefinitely. For sellers — especially in the condo space — the data suggests confidence is warranted, however pricing remains the most important element to get right!

Curious what this means for your specific neighbourhood or situation? I’m always happy to chat, reach out anytime, or sign up for monthly market updates straight to your inbox.

Jun 01
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May Market Update

Toronto Real Estate Market Update: May 2026

By Monthly Market Updates

Spring has brought some welcome momentum back to the Toronto Real Estate market, and after a slow start to the year, I’m seeing that show up clearly in the May numbers. Sales are accelerating, inventory is tightening relative to demand, and prices look like they’re starting to find a floor. Here’s my read on what happened this month and what it could mean if you’re thinking about buying or selling this summer.

The Headline Numbers

6,583 homes sold across the GTA in May — up 6.3% from the 6,195 we saw in May 2025. New listings, meanwhile, fell to 17,698, down 18.9% year-over-year. More buyers, fewer new options: that combination is really the whole story of this spring.

It’s also month three of a trend. Sales rose year-over-year in March, April, and May, after dipping in January and February.

MonthSalesNew ListingsActive ListingsAvg. Price
January3,08210,77417,975$973,289
February3,86810,70519,314$1,008,968
March5,03914,44221,596$1,017,796
April5,94617,09725,110$1,051,969
May6,58317,69826,927$1,069,700

Seasonally adjusted, sales were up 10% over April, while new listings dipped 2.1%!

Prices: Down Year-Over-Year, But Leveling Off

The average selling price hit $1,069,700 in May which was 4.6% below last year. The broader MLS HPI Composite benchmark, which smooths out the mix of what’s actually selling, was down a steeper 6.7% year-over-year.

Here’s the more interesting part, though: on a seasonally adjusted basis, prices actually ticked up slightly month-over-month, and the pace of the year-over-year decline has been easing for a while now. If sales keep strengthening the way they have been, it could indicate we’re closer to a floor than a further slide.

Worth a caveat here: the Bank of Canada held its policy rate at 2.25% for a fifth straight meeting in June, citing elevated oil prices and ongoing trade uncertainty. And fixed mortgage rates have actually crept up recently as bond yields responded to the same geopolitical noise. So while May’s affordability story leaned partly on borrowing costs, that tailwind may be less reliable heading into summer than it looked a month ago.

How the City of Toronto Performed by Home Type

Zooming into the 416 specifically, detached homes led the charge:

Home TypeSales (416, May 2026)Avg. Price (416, May 2026)YoY SalesYoY Price
Detached846$1,610,988+8.9%-6.5%
Semi-Detached283$1,293,268+2.5%+0.6%
Townhouse222$953,982-17.5%-5.5%
Condo Apartment1,009$673,841+4.2%-5.0%

Detached and semi-detached sales grew nicely, while townhouses pulled back… but keep in mind, this is a smaller, more volatile segment where a handful of deals can swing the percentage. Condos, the city’s most crowded category, kept selling in decent volume even as prices softened. Not exactly a comeback tour for condo pricing, but the sales activity suggests demand may be coming back (but slooooowly)

Buyers Still Have Room to Negotiate — For Now

Average days on market landed at 42 in May, down from a January high of 67. That said, homes are still taking a few days longer to sell than they did in May 2025 — which tells me buyers heading into early summer still hold some leverage. Whether that window stays open through July and August is the real question to watch.

Year-to-Date Snapshot

Through the first five months of 2026, GTA sales sit at 24,405 — essentially flat against 24,653 over the same stretch last year. New listings are the bigger story: down to 70,768 from 83,441. Fewer new homes hitting the market, roughly steady demand, that’s the recipe behind the tightening we’ve been tracking all spring.

My Take

I think May reflects real, if fragile, improvement. Buyers came back, listings didn’t keep pace, and prices are behaving like a market finding its footing rather than one still falling. Ontario’s Bill 98 received Royal Assent in early June, aiming to speed up housing approvals and lower development costs province-wide — a trend to watch for anyone thinking about the next few years of supply, not just this summer’s showings.

Will the second half of the year keep this pace up? That depends a lot on interest rates, oil prices, and whether the “affordability improving” story can hold up if borrowing costs tick the wrong way. For now, though, the numbers are a promising sign after a rough start to the year.

Curious what this means for your specific neighbourhood or situation? I’m always happy to chat — reach out anytime, or sign up for monthly market updates straight to your inbox.

Dec 10
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November Market Update

November 2025 Toronto Real Estate Market Update

By Monthly Market Updates

According to the calendar, we’re officially in “hot chocolate and thicker jackets” season… and according to November’s numbers, the Toronto real estate market has also settled into full fall mode.

November wasn’t dramatic or chaotic. Instead, it felt like a market catching its breath—slower pace, fewer listings, and more thoughtful buyers. But tucked inside the overall cool-down was a standout story: freehold homes between $1M and $1.5M were buzzing with real activity. Let’s break down what actually happened.

What Happened in the Toronto Market This November?

Sales Slipped—But It’s Not the Plot Twist You Might Expect

Toronto recorded 5,010 sales, an 18.38% drop from October. On the surface, that might look like a steep fall… but November is historically a slower month as buyers shift into “holiday mode” and sellers decide to wait out the year.

The interesting part? Even with fewer deals happening, conversations with buyers stayed lively. This wasn’t a demand problem—it was a “let’s be picky” moment.

New Listings Dropped Harder Than Sales

Only 11,134 new listings hit the market in November—a sharp 30.7% drop. That’s the real story of the month. Sellers stepped back in a big way, which meant that buyers who were actively shopping suddenly had fewer homes to choose from.

When new listings fall faster than sales, the market tightens. And that’s exactly why prices held steady.

Even Active Listings Declined More Than Usual

Active inventory fell to 24,549—nearly 12% lower month-over-month.

Buyers who remained committed in late fall described the experience as “I’m ready… but there’s nothing to see.” Anyone who has been through a November search knows the feeling.

Prices Held Steady (All Things Considered)

Average Price: $1,039,458 (Down just 1.4%)

You might expect a bigger price swing with slower sales, but Toronto homes proved resilient. Prices barely budged and stayed right in line with where they’ve been for most of the year.

Think of it as the market saying: “Relax, nothing dramatic happening here.”

Days on Market Hit Their Longest Stretch This Year

The ‘Days on Market” rose to 56 days, the slowest pace we’ve seen in 2025.

This doesn’t mean homes aren’t selling—it means buyers are taking their time, comparing options, and running the numbers twice. But again… this was not the case everywhere.

The Breakout Segment: Freehold Homes Between $1M and $1.5M

Here’s where things get fun.

Detached & Semis in This Range Moved Faster Than the Market

Despite the overall slowdown, this pocket of the market stayed lively. In the 416:

  • Detached homes saw 600 sales
  • Semis hit 209 sales

Not record-breaking, but the energy was noticeably stronger. Freeholds that were move-in ready, offered rental potential, or were located near transit didn’t sit long.

Why? Because this price band continues to hit that Toronto sweet spot: attainable for move-up buyers, attractive to investors, and competitive enough to avoid the bidding-war chaos of earlier years.

Condos and Townhouses: Softer Demand, Stable Pricing

Condos Took a Breath After October’s Spike

Condo sales dipped to 880 (a 17.9% decline). No surprise here—condo buyers tend to be more rate-sensitive, and many are waiting for early 2026 announcements before locking in.

Yet, the average condo price actually inched up to $701,259. That’s the stability story again.

Townhouses Were a Mixed Bag

Townhouses landed at an average price of $870,793, a modest 2.2% dip.

Still, they continue to appeal to buyers who want the space of a freehold but not the price tag of one. The townhouse segment is very much alive—it’s just quieting down with the rest of the market.

Big Picture Trends Shaping Toronto’s Market Right Now

Mortgage Rates Are Finally Helping

After the Bank of Canada’s gradual cuts, many 5-year fixed rates now sit in the mid-4% to low-5% range. Buyers aren’t sprinting back, but confidence is noticeably higher than in 2023–2024.

If you talk to anyone who started a pre-approval a year ago and renewed it recently, they’ll tell you the same thing: “This feels manageable again.”

Consumers Are More Hopeful—But Still Cautious

Renewals at higher rates are still holding some would-be sellers back, especially those locked into ultra-low pandemic mortgages.

But newcomers, families, and investors are fueling the activity we do see—especially where rental income or multi-unit potential exists.

Policy Shifts Are Playing a Quiet but Important Role

With Bill 60 improving LTB timelines and clarifying the N12 process, landlords and investors are planning ahead with more certainty.

Meanwhile, Toronto’s ongoing gentle-density permissions are quietly changing how buyers view freehold lots—especially those with laneway or basement suite potential.

What Buyers Should Take Away From November 2025

Where the Opportunities Are

  • Freeholds under $1.5M: competitive, but not overwhelming.
  • Condos: stable prices + motivated sellers = room to negotiate.

What’s Likely Coming Next

Expect December to stay quiet—it always does. The real moment to watch is early 2026, when the Bank of Canada sets the tone for the year.

If confidence rises, expect buyers to move from browsing to buying.

Thinking of Buying or Selling?

Whether you’re upsizing, downsizing, or investing, November’s data tells us the same thing: this is still a market with opportunities—just not the loud, dramatic kind.

When you’re ready to talk strategy, we’ve got your back!

May 01
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House in Toronto

April 2025 Toronto Real Estate Market Recap

By Monthly Market Updates

April in Review – Affordability Improves, But Confidence Lags

Toronto’s spring market has always set the tone for the year ahead—and April 2025 was no exception. Realtors in the GTA recorded 6,244 sales in May (reflecting April activity), a 13.3% decline from the same time last year. But while the numbers might seem underwhelming, the mood on the ground tells a more nuanced story.

New listings jumped to 21,819, marking a 14% increase year-over-year. That means buyers suddenly have options—a refreshing change after years of limited inventory. With more supply comes less competition, fewer bidding wars, and more room to negotiate.

TRREB President Elechia Barry-Sproule put it succinctly: “Buyers have certainly benefited from greater choice and improved affordability this year. However, each neighbourhood and market segment have their own nuances.”

Translation: the market is shifting, but your experience will depend on where—and what—you’re buying.

Buyers Have Leverage—So What’s Holding Them Back?

Affordability has improved. Mortgage rates have eased slightly. Listings are up. In theory, this should be a slam dunk for buyers. And yet? Many remain cautious.

The average selling price in the GTA was $1,120,879, down 4% year-over-year. The MLS® Home Price Index Composite Benchmark slipped further, down 4.5%. Still, both measures edged up slightly month-over-month, hinting that prices might be stabilizing.

So, what gives? It’s not just about numbers—it’s about confidence and at the moment, there isn’t a whole lot of it!

Want to track the financial factors influencing real estate? Canada Mortgage Trends and Bank of Canada rate updates are great places to start.

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Signs of Life: Month-over-Month Momentum

Despite a cooler year-over-year picture, recent momentum is pointing upward. April to May sales increased for the second straight month. While new listings also rose, they didn’t outpace sales—suggesting mild tightening in market conditions.

Does this mean a full recovery is underway? Not quite. But well-priced, move-in-ready homes—especially in transit-connected or walkable areas—are starting to attract serious attention.

Want a deep dive into the data? TRREB Market Watch has you covered.

What We’re Seeing On the Ground

Here’s what we’re noticing from our conversations and showing schedules:

  • Buyers are crunching the numbers first—and only booking viewings when the math makes sense.
  • Sellers who price realistically (think: post-peak expectations) are getting action. Overpriced listings? Not so much.
  • In-demand areas like the Junction, St. Clair West, and Leslieville continue to draw steady interest—especially for family-friendly, move-in-ready homes.

Got your eye on something unique? Explore Lofts for Sale in Toronto to see what’s out there.

What’s Next? Rate Cuts, Supply Fixes, and Opportunity Windows

TRREB has emphasized that government follow-through on housing initiatives is critical. That means:

  • Lowering excessive taxes and fees
  • Speeding up permitting
  • Encouraging innovation in housing construction

TRREB CEO John DiMichele also noted that a rate cut, especially with inflation cooling, would be a welcome boost for both new buyers and those renewing their mortgages.

Stay informed with:

Final Take – Opportunity, If You’re Ready

Toronto’s April market felt like the start of something. Prices dipped, listings rose, and with that came renewed breathing room. While macroeconomic jitters haven’t vanished, motivated buyers are quietly stepping forward.

If you’re planning a move, now’s a great time to get your ducks in a row—before competition heats up again.

Book a Buyer Consultation to map out your next steps, or send us a message using the form below!

Feb 04
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View of Toronto City from above - Toronto, Ontario, Canada

January 2025 Toronto Real Estate Market Update: A Steady Start with Spring Optimism Ahead

By Monthly Market Updates

A Cool Start to the Year—But Don’t Let That Fool You

If you judged 2025 by January alone, you might think we were in for another sluggish year. Realtors reported 3,847 home sales through TRREB’s MLS® System, which marked a 7.9% decline compared to January 2024. But zoom in and you’ll see a different story: seasonally adjusted sales actually increased from December 2024. Momentum, it seems, is starting to build.

On the supply side, there’s been a dramatic shift. New listings surged 48.6% year-over-year, reaching 12,392. This uptick suggests that sellers are feeling more confident heading into the spring market, giving buyers more options to work with.

Price Trends Show Stability, Especially for Single-Family Homes

While transaction volumes dipped, prices remained surprisingly steady. The average selling price across the GTA hit $1,040,994, up 1.5% compared to the same time last year. The MLS Home Price Index Composite Benchmark also posted a modest gain of 0.44% year-over-year.

What does this mean? In a word: balance. Condos remain plentiful and price growth is muted. But for single-family homes, especially in tight-supply pockets, values are inching upward. TRREB expects this trend to accelerate as borrowing costs continue to ease.

TRREB’s 2025 Forecast: More Sales, Moderate Price Growth

If January is the warm-up, the rest of 2025 could be the main event. TRREB forecasts 76,000 total home sales this year—a 12.4% increase over 2024. This optimism stems from one major factor: lower mortgage rates.

More affordable borrowing means more would-be buyers will step off the sidelines. TRREB anticipates the average GTA home price will reach $1,147,000 by year-end, a 2.6% bump that keeps pace with inflation.

This isn’t a return to bidding-war chaos—and that’s a good thing. It’s a sign of a healthier, more sustainable market.

The Bigger Picture: Supply, Confidence, and Collaboration

Beyond numbers, TRREB’s annual outlook highlights a structural message: Toronto needs more diverse housing.

From purpose-built rentals to townhomes and multiplexes, the GTA’s future depends on supply that fits real-world budgets. TRREB President Elechia Barry-Sproule emphasized the need for “missing middle” options, while CEO John DiMichele pointed to the hurdles: development charges, taxes, and red tape that slow down new builds.

If affordability and traffic congestion are interconnected challenges, then coordinated solutions are the only way forward. We need policy that encourages building — not barriers that stall it.

What This Means for Buyers and Sellers Right Now

With inventory up and prices still relatively stable, the early-year market presents real opportunity for both buyers and sellers.

For buyers: now is the time to revisit that mortgage pre-approval, build your wishlist, and line up financing ahead of a likely busier spring.

For sellers: increased listings mean more competition. Proper pricing, presentation, and marketing matter more than ever. If you’re thinking of moving, acting early might just give you an edge.

Curious about how these trends affect your specific neighbourhood or property type? Let’s connect—we’re always happy to translate market shifts into smart real estate moves.

Want to learn more about Toronto condo prices or explore why purpose-built rentals are gaining traction? We’ve got you covered.