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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.

Mar 03
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February in Toronto

Toronto Real Estate Market Update: February 2026

By Monthly Market Updates

According to the calendar, spring is still weeks away. According to February’s numbers, Toronto’s housing market was already clearing its throat. Sales dipped, new listings dipped even faster, and buyers kept doing what they’ve done for months now… watching, waiting, running the numbers one more time.

But here’s the twist: not every corner of the 416 sat still. Detached and townhouse sales actually grew year-over-year, even as prices cooled. So was February a slow month, or a quiet setup for something bigger this spring? Let’s take a look!

February in Toronto

The Numbers at a Glance

In the 416, February 2026 looked like this compared to February 2025:

  • Sales: 1,491, down from 1,575 — a dip of about 5.3%
  • New listings: 4,035, down from 4,991 — a decline of roughly 19.2%
  • Average price: $1,019,144, down from $1,089,187 — off by about 6.4%
  • MLS HPI Composite (City of Toronto): down 8.08% year-over-year, according to TRREB’s February 2026 Market Watch report

A Sales Split: Where the City Held Steady

Here’s where it gets interesting. Not every segment of the 416 told the same story last month:

  • Detached homes: 437 sales, actually up 3.6% year-over-year, though average price eased to $1,568,543 (down 11.4%)
  • Semi-detached: 150 sales, down 3.8%, while average price ticked up 4.6% to $1,229,853
  • Townhouses: 153 sales, up 2.7%, with average price down 4.6% to $980,175
  • Condo apartments: 733 sales, down 12.3% — the softest segment by far — with average price down 8.1% to $663,984

So while the condo market continues to face the most pressure on both price and demand, detached and townhouse sales actually grew year-over-year. That’s worth sitting with for a second: even in a “down” month, two of four housing types saw more buyers close deals than they did a year ago.

Why Prices and Listings Cooled

The short version? Buyers are waiting for clarity. TRREB Chief Information Officer Jason Mercer put it plainly in the board’s February release, noting that more than 100,000 GTA buyers are holding off on a purchase while they wait for prices to level off and for “positive news on the trade front” (TRREB Market Watch).

That hesitation lines up with the broader economic backdrop. The Bank of Canada opened 2026 by holding its policy rate steady at 2.25%, continuing a pause that began in December, as it weighed ongoing uncertainty around U.S. trade policy (Canadian Mortgage Professional). Steady rates are one less variable for buyers to worry about — but “steady” isn’t quite the same as “confidence-inspiring,” and that shows up in February’s listing numbers.

February in Toronto

The Month-Over-Month Bounce

Here’s the part that didn’t make many headlines: on a month-over-month basis, every single housing type in the 416 saw sales and prices climb from January to February.

  • Detached sales rose about 51% month-over-month, with average price up 1.7%
  • Semi-detached sales rose about 56%, with average price up 7.3%
  • Townhouse sales rose about 35%, with average price up nearly 12%
  • Condo sales rose about 29%, with average price up 5.1%

Some of that is simply seasonal — January is typically the slowest month of the year. But a broad-based lift like this, across every category, is a trend to watch heading into the spring market.

Year-to-Date: Where 2026 Stands

Looking at the City of Toronto’s first two months combined, 2026 is trailing 2025:

  • Sales: 2,562 vs. 2,948 (down 13.1%)
  • New listings: 8,115 vs. 9,732 (down 16.6%)
  • Average price: $989,346 vs. $1,041,180 (down 5.0%)

That said, TRREB’s own outlook — echoed in coverage from Storeys — points to tightening supply as a setup for stronger activity in the second half of the year, as reduced competition from new listings could eventually support both sales and pricing.

What This Means If You’re Buying or Selling

For buyers, this is still a market with real negotiating room, particularly in the condo segment where both price and competition remain soft. For sellers of detached and townhouse properties, February’s sales growth is a signal that qualified buyers are out there — even if fewer of your neighbours are listing alongside you.

Either way, timing matters more than headlines. If you’re weighing a move this spring, it’s worth getting a read on your specific pocket of the 416 before making a decision. Check out our Toronto real estate market update hub for ongoing coverage, or find out what your home is worth in today’s market. Want this kind of breakdown in your inbox every month? Sign up for our market updates and stay ahead of the curve.

Feb 04
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Downtown Condos

January 2026 Real Estate Market Update

By Monthly Market Updates

A Cold and Cautious Start to 2026

January is always a difficult month to read too much into — and January 2026 came with a few extra asterisks. In addition to the usual post‑holiday slowdown, Toronto experienced two significant snowfalls and extended stretches of freezing temperatures which resulted in fewer showings and delayed listings.

With that in mind, January should be viewed less as a verdict on the year ahead and more as an early signal of how buyers and sellers are behaving under current conditions.

Toronto Snow Storm 2026
Toronto Snow Storm 2026

The January 2026 Snapshot

Sales across the Toronto market totalled 3,082 transactions in January, reflecting a year‑over‑year decline. New listings came in at 10,774, also down compared to last January, while active listings remained elevated at 17,975.

The average selling price finished the month at $973,289, down year‑over‑year (the time we saw a monthly average this low was November 2023 – cue the headlines), while average days on market stretched to 67 days — a noticeable increase that reinforces the slower pace of decision‑making across the market. 

Sales & Inventory: Supply Still Setting the Pace

Sales softened again in January, but seasonality, affordability pressures, and weather all played a role. What’s more telling is that inventory remains relatively high for this time of year, keeping buyers firmly in control of timing and negotiations.

The increase in average days on market reinforces that point. Homes are taking longer to sell not because buyers aren’t looking, but because they’re willing to wait — and often pass — unless pricing and presentation align.

For buyers, this environment continues to offer leverage. For sellers, the margin for error on pricing is thinner than it’s been in years!

Market Breakdown by Property Type

Detached Homes

Detached homes recorded 290 sales in January, with an average selling price of $1,541,791. While sales volumes were softer compared to last January, pricing proved more resilient than in other segments. End‑users continue to dominate this category, particularly in established neighbourhoods where long‑term value remains the priority.

Buyers are taking their time and negotiating harder, especially on homes that need work. Sellers who priced realistically and prepared their homes well were still able to transact, while aspirational pricing struggled to gain traction — and in some cases, attracted no showings at all.

Semi‑Detached Homes

Semi‑detached homes saw 96 sales in January, with an average selling price of $1,146,188. This segment remained one of the more stable areas of the market, supported by move‑up buyers and families seeking freehold ownership without detached‑home pricing.

That said, stability does not mean immunity. Buyers are still value‑driven, and pricing accuracy matters. Well‑located semis continue to perform best, while over‑priced listings face longer market times.

Townhouses

Townhouses posted 113 sales in January, with an average selling price of $876,585. Sales were softer relative to both semis and detached homes, reflecting buyer hesitation and increased comparison shopping across property types.

For buyers, this has translated into increased choice and negotiating room. For sellers, positioning against both condos below and semis above is increasingly important.

Condo Apartments

Condo apartments accounted for the largest share of total sales in January, with 568 transactions, but they also told the clearest story of price adjustment. The average condo selling price declined to $624,886 — a level not seen since January 2021.

Investor hesitation, higher carrying costs, and financing conditions continue to weigh on this segment. At the same time, end‑users are finding more selection and leverage than they’ve had in years.

For buyers, this remains the most opportunity‑rich segment of the market. For sellers, patience or sharp pricing is required — rarely both.

Yonge and Bloor Condos
Yonge and Bloor Condos

Economic & Rate Backdrop

The Bank of Canada held its overnight rate steady in January, maintaining the current borrowing environment. However, several major banks are forecasting the possibility of rate increases later in 2026.

That expectation alone is influencing behaviour. Buyers are factoring future affordability into decisions today, while sellers are adjusting expectations based on what financing may look like later in the year.

Rates may not be moving — but expectations are.

What January Sets Up for the Months Ahead

January rarely sets the tone for the full year, but it does reveal behaviour. As weather improves and spring approaches, February and March will be far more telling.

Key indicators to watch include:

  • Whether sales volume begins to accelerate
  • How quickly new listings are absorbed
  • Whether condo inventory continues to build

A shift in any of these areas would signal a change in leverage.

Bottom Line

January 2026 delivered a market that rewards realism. Buyers have time and choice, but the best opportunities won’t last indefinitely. Sellers can still succeed — but strategy, pricing, and preparation matter more than optimism.

If you’re thinking about buying or selling in the year ahead, understanding how these conditions affect your specific property type and neighbourhood is key. We help clients make sense of the data, set realistic expectations, and move with confidence — whether that means acting quickly or waiting for the right moment.

If you’d like to talk through your plans for 2026, we’re always happy to help… send us a message below!

Jan 12
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Toronto Skyline

Toronto Real Estate Market 2025 Year-End Review & Outlook

By Advice For Buyers, Advice For Sellers, Toronto

If 2024 was about uncertainty, 2025 was about adjustment.

The defining force this year wasn’t disappearing demand — it was inventory overwhelming the market’s ability to absorb it. Toronto averaged 25,548 active listings throughout 2025, a level that consistently exceeded what buyer demand could comfortably clear. Supply peaked mid-year at 31,603 active listings in June, then remained elevated through most of the fall before finally compressing into December.

Sales activity followed a familiar seasonal arc, averaging 5,228 sales per month, but that demand was spread thin across a much larger pool of listings. On paper, the market looked active. On the ground, it felt selective.

Buyers had options. Time. Leverage. Sellers could still transact — but only when expectations were realistic from the outset. This wasn’t a crash. It wasn’t a rebound either. It was a prolonged re-pricing environment, where leverage steadily and decisively shifted toward buyers.

Sales & Demand: Present, But Highly Filtered

Sales volumes showed resilience through the middle of the year. Monthly sales climbed from 3,847 in January to a peak stretch above 6,100 sales between May and July, confirming that buyers were not sitting on the sidelines entirely.

But that demand was fragile.

By December, sales slipped back to 3,697, nearly identical to January levels, despite clearer pricing, more transparency, and softer expectations. That bookend tells the real story of 2025: demand existed, but urgency never fully returned.

Where buyers did act decisively, three patterns stood out:

• Homes priced directly in line with recent comparable sales
• Listings that were clearly superior to competing inventory
• Properties positioned as good value, not best-case scenarios

Homes that missed those marks didn’t just sell later — they often sold for less, after extended exposure and multiple price reductions.

Inventory & Supply: The Dominant Force of 2025

If there was a single variable that shaped behaviour this year, it was supply.

New listings averaged 15,469 per month, with spring inflows particularly heavy. April through June alone added nearly 60,000 new listings to the market. Even as sales improved seasonally, absorption never caught up.

The impact compounded over time. Active listings rose from 17,157 in January to over 30,000 by May, fundamentally changing buyer psychology. And even when new listings slowed sharply — falling to just 5,299 in December — buyers were still choosing from 17,005 active listings.

That’s not scarcity by any definition.

As a result, buyers compared more homes before committing, conditional offers became routine again, and sellers lost the ability to rely on urgency or fear of missing out. Inventory didn’t need to keep rising forever to reshape the market. It simply needed to stay elevated long enough for psychology to change — which it did.

Pricing & Value: Softening, With Clear Winners and Losers

The average Toronto sale price in 2025 landed around $1.065M, but that headline number hides meaningful divergence beneath the surface.

Prices peaked in late spring, then softened steadily through the second half of the year, tracking directly with elevated inventory and rising buyer selectivity. Average Days on Market climbed from 38 days in Q2 to 57 days by Q4, reinforcing how patience — not urgency — defined buyer behaviour by year-end.

Well-priced homes often sold within their first listing window. Overpriced listings typically required multiple reductions. Final sale prices increasingly drifted away from original list prices.

By Q4, buyers weren’t negotiating off asking prices — they were negotiating off perceived value, often pointing to better alternatives still sitting on the market.

The Well Toronto
The Well Toronto

2025 by Housing Segment: Four Markets, One Theme

Detached Homes

Detached homes were the most resilient segment in 2025, but not immune.

Sales volumes held up better here than in other segments, particularly in established neighbourhoods where land value, schools, and long-term scarcity continued to support demand. Even so, elevated supply capped pricing momentum. Many detached listings required sharper initial pricing to generate traction.

Buyers were qualified, deliberate, and far less emotional than in past cycles. Overpriced detached homes frequently sat through multiple listing periods, while realistically priced homes attracted steady — if unspectacular — interest.

Semi-Detached Homes

Semi-detached homes felt affordability pressure more directly.

As a traditional step-up option, this segment was highly sensitive to interest-rate psychology. Demand existed, but buyers had more choice than usual, and that softened competition.

Well-presented semis in strong neighbourhoods continued to sell, but rarely with the multiple-offer dynamics sellers had come to expect. Pricing accuracy mattered enormously, making this segment a clear barometer of buyer confidence.

Townhouses

Townhouses experienced one of the more noticeable shifts in 2025.

Inventory growth, particularly in newer and suburban-adjacent projects, increased competition and reduced urgency. Buyers weighed townhouses more carefully against condos and smaller detached options, prioritizing layout, fees, and long-term livability.

Well-priced freehold townhouses performed reasonably well. Those that lacked differentiation or sat awkwardly between price points often struggled.

Condos

Condos were the most challenged segment of 2025.

Elevated supply, especially among one-bedroom and investor-oriented units, weighed heavily on pricing and absorption. Buyers had ample choice and often adopted a wait-and-see posture, particularly in buildings with high listing concentration.

While unique, well-located, or larger units still sold, competition was fierce and pricing pressure persistent. By year-end, condos increasingly led the market’s re-pricing rather than following it.

What This Meant for Buyers

For buyers, 2025 delivered something Toronto rarely offers: choice without chaos.

Elevated inventory created real leverage, particularly on listings that had been on the market 30 days or longer. Disciplined buyers were often rewarded with price reductions, seller concessions, and time to conduct proper due diligence.

That said, decisiveness still mattered. Homes that were clearly priced right — especially in strong neighbourhoods or turnkey condition — continued to attract competition.

The opportunity wasn’t universal leverage. It was selective leverage.

What This Meant for Sellers

For sellers, 2025 was a year where strategy mattered more than timing.

Listings that launched aligned with market reality often sold efficiently, even in a high-inventory environment. Those that chased aspirational pricing frequently became stale and paid for it later.

The data reinforced a difficult but consistent truth: waiting for the market to “come back” was rarely rewarded.

Carrying costs, competition, and buyer fatigue often outweighed the benefit of holding out, particularly in the second half of the year. Sellers who succeeded treated pricing as a proactive decision, not a fallback plan.

Short-Term Outlook Heading Into 2026

As the market moves into 2026, inventory remains the variable to watch.

New listings have slowed seasonally, but active supply is still high enough to keep buyers cautious and selective. Interest-rate sentiment may improve, but affordability constraints haven’t disappeared.

The most likely near-term scenario is continued sorting: well-priced homes transact, misaligned ones adjust, and leverage remains situational rather than universal.

Thinking About Buying or Selling in 2026?

Markets like this reward strategy, not guesswork.

If you’re planning to buy or sell in 2026 and want clarity around pricing, timing, and leverage, we’re happy to help you think it through. Whether that means stress-testing a sale price, identifying real buying opportunities, or simply understanding how current conditions affect your plans, our role is to give you clear, grounded advice—before you make any big decisions. Get in touch with us by sending a message below!

Nov 06
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October 2025 Toronto Real Estate Market Update

October 2025 Toronto Real Estate Market Update

By Monthly Market Updates

After a quieter summer and a cautious start to the fall market, October delivered the clearest sign yet that Toronto’s real estate landscape is stabilizing. Sales activity continued to improve, inventory eased from September’s surge, and prices held firm month-over-month. While the market is not roaring forward, October showed a meaningful shift in sentiment as buyers re-engaged and competition tightened slightly across several segments.

Below is a full breakdown of how the market performed and what it means for buyers and sellers heading into the final stretch of the year.

October at a Glance

  • Sales: Up 9.76% month-over-month
  • New Listings: Down 16.57% month-over-month
  • Active Listings: Down 5.40% month-over-month
  • Average GTA Price: Down 0.47% month-over-month
  • Average Days on Market: 50 days (down from 51 in September)
October 2025 Toronto Real Estate Market Update
October 2025 Toronto Real Estate Market Update

GTA Market Overview

October delivered a second consecutive month of sales growth, rising nearly 10% from September. Buyers who had previously stepped to the sidelines over the summer began returning, encouraged by improved affordability expectations, increased negotiation power, and a sense that prices may have reached a temporary floor after months of softening.

Inventory also pulled back in October. New listings dropped more than 16% month-over-month, and active listings declined just over 5%. While supply remains higher than last year, the month-over-month easing helped bring the market closer to balance. With fewer new listings coming online, sellers benefited from slightly less competition than they faced in September.

Prices remained stable, dipping less than half a percent. Considering the broader downward pressure over the past year, October’s minimal price movement suggests values may be flattening as the market finds an equilibrium between what sellers are willing to accept and what buyers are prepared to pay.

Key Takeaway: October showed improving buyer engagement and tightening inventory – two key ingredients for price stabilization.

Key Market Drivers in October

Improved Buyer Confidence
The fall market saw stronger engagement as buyers adjusted to borrowing costs and gained clarity around pricing. This confidence translated into increased sales activity across both freehold and condo segments.

Inventory Eased After a September Surge
September’s spike in listings created temporary pressure on prices. With fewer new listings in October, buyers had less choice, helping restore some balance.

Price Stability Encouraged Move-Ups and First-Timers
Stable pricing helped both move-up buyers and first-time purchasers make more confident decisions, especially in the condo and semi-detached segments.

GTA Market Performance: Month-Over-Month

  • Sales increased by 9.76% (+546 sales)
  • New listings declined by 16.57% (-3,191 listings)
  • Active listings dropped by 5.40% (-1,586 listings)
  • Average price decreased slightly by 0.47% (-$5,005)
  • Days on Market improved from 51 to 50 days

Key Takeaway: The combination of rising sales and falling listings is a positive directional shift for market balance.

GTA Market Performance: Year-Over-Year

  • Sales down 7.81% from October 2024
  • New listings up 4.83% from last year
  • Active listings up 13.59% from last year
  • Average price down 7.12% year-over-year (-$80,843)
  • Days on Market up 16.28% from last year (+7 days)

Key Takeaway: While the month-to-month narrative has improved, year-over-year comparisons continue to show a softer market with more choice and lower prices than last fall.

416 Market Breakdown by Property Type

Sales Activity (Month-Over-Month)

  • Detached: Up 10.67% (+72 sales)
  • Semi-Detached: Up 22.90% (+49 sales)
  • Townhouse: Up 13.64% (+30 sales)
  • Condo: Up 14.04% (+132 sales)

Sales growth was seen across all housing types, marking one of the broadest improvements this year. Semi-detached homes led the month, followed closely by the condo sector, which regained momentum after a slower summer.

Key Takeaway: Buyer interest strengthened across all segments, showing renewed confidence in the market.

Pricing Trends (Month-Over-Month)

  • Detached: Down 3.97% (-$66,966)
  • Semi-Detached: Up 3.18% (+$37,582)
  • Townhouse: Down 4.19% (-$38,919)
  • Condo: Up 2.66% (+$18,126)

Freehold properties saw mixed performance. Detached and townhouse values experienced modest declines, while semis posted the strongest price gains of the month. Condos also saw average prices rise, supported by an uptick in demand and more motivated fall buyers.

Key Takeaway: Semi-detached homes stood out as the strongest performer, while condos continue to offer value-driven opportunities for buyers.

October 2025 Toronto Real Estate Market Update
October 2025 Toronto Real Estate Market Update

What This Means for Buyers

With inventory easing and sales strengthening, buyers considering a purchase in the next three to six months may want to take advantage of current conditions. Prices have shown signs of stabilizing, and as competition picks up, the negotiation leverage seen through the summer could begin to narrow.

Key Takeaway: Buyers still hold advantages, but conditions are shifting. Acting before inventory tightens further could be beneficial.

What This Means for Sellers

October offered sellers a more encouraging landscape than earlier in the fall. With fewer new listings entering the market, properly priced homes saw more consistent showings and engagement. Attractive, well-prepared properties continue to see the strongest results.

Key Takeaway: Sellers who position their home strategically and price with the current market will find more motivated buyers than in recent months.

Our Take

October marked an important turning point for Toronto real estate. While we’re not seeing dramatic price growth or frenzied bidding wars, the combination of stronger sales and softer listing numbers suggests the market is working toward balance. Confidence has improved, and both freehold and condo buyers are moving more decisively than they did over the summer.

Heading into the final months of the year, the market appears more stable and predictable than it has been for most of 2025. For both buyers and sellers, clarity is returning, and informed strategies are key. As always, reach out any time if you’d like to learn more!