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Aug 07
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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.

Apr 03
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March Real Estate Market Update

Toronto Real Estate Market Update: March 2026

By Monthly Market Updates

Toronto buyers didn’t need a calendar to know winter had overstayed its welcome. Between the snow, the slush, and two straight months of staying indoors, January and February were quiet for reasons that had nothing to do with mortgage rates or listing prices. Then March showed up — and so did the buyers.

The Headline: Sales Finally Turn a Corner

The Toronto Real Estate Board reported 5,039 home sales in March 2026, up 1.7% year-over-year — the first annual increase the region had seen since last September. Sales also climbed 30% month-over-month from February, which is a bigger jump than typical seasonality alone would explain. Clear roads and longer daylight hours don’t show up in a market report, but they clearly showed up in showing schedules.

TRREB President Daniel Steinfeld called it “encouraging,” noting that more GTA households appear ready to take advantage of improved affordability as the spring market gets underway. For a market that’s spent over a year in buyer’s-market territory, that’s a notable shift in tone.

March Real Estate Market Update

What the Numbers Actually Show

Here’s March 2026 at a glance:

  • Sales: 5,039 (+1.7% YoY, +30.3% MoM)
  • New listings: 14,442 (-16.7% YoY, +34.9% MoM)
  • Active listings: 21,596 (-8% YoY, +11.8% MoM)
  • Average price: $1,017,796 (-6.7% YoY)
  • MLS® HPI Composite: down 7.4% YoY
  • Average days on market: 47

New listings are down sharply from last year, but sales grew faster than listings on a seasonally adjusted basis — a sign, per TRREB, that conditions are tightening even with prices still soft. In the City of Toronto specifically, 1,913 sales closed the month, up a modest 0.9% year-over-year.

That’s worth sitting with for a second: sales are up, prices are still down. As confusing as that may sound, it’s exactly what a market looks like when buyers still have the upper hand on negotiating, and are starting to use it.

Detached, Semis, Townhomes & Condos — Who’s Moving

Not every property type moved at the same pace:

Home TypeMarch 2026 SalesAverage Price
Detached574$1,613,066
Semi-Detached170$1,231,967
Townhouse207$959,513
Condo Apartment951$648,287

Condos remained the highest-volume segment by sales count, but they’re also where price softness has been most persistent (a pattern that’s held for much of the past year). Detached homes, by contrast, continue to command a premium and have held their value more consistently. If you’ve been eyeing the condo market, this could be one of those “trend to watch” moments worth keeping an eye on through the spring.

Why Buyers Still Hold the Cards

Two things kept affordability front and centre in March. First, the Bank of Canada held its policy rate at 2.25% on March 18 — its second hold of the year — with inflation easing to 1.8% and the labour market still soft. That stability (for now) means borrowing costs aren’t adding new pressure on top of already-cautious buyers.

Second, buyers simply have more room to negotiate than they’ve had in years. TRREB’s Jason Mercer put it plainly: buyers continued to benefit from “substantial negotiating power” on price, which is exactly why average and benchmark prices are still down year-over-year even as sales pick up. If you’re a first-time buyer trying to figure out how far your down payment can stretch, tools like the FHSA are worth another look in this kind of market.

March Real Estate Market Update

What’s Next — Spring Outlook

Not every forecast is popping champagne just yet. TD Economics recently trimmed its 2026 outlook, now expecting sales to dip slightly and prices to ease modestly nationally — a notable pullback from its earlier call for solid gains in both sales and price. That’s a fair reminder that one good month doesn’t undo a year of caution.

That said, March gave us something worth watching: sales growing faster than listings, buyers stepping off the sidelines, and the first real signs of seasonal momentum. If that trend holds through April and May, this could be the point where selling prices start to level off rather than keep sliding. Will it stick? Toronto’s spring market has surprised us before.

For the full monthly breakdown as it happens, head over to our market update hub or sign up for our monthly market updates so you’re never caught off guard.

Aug 04
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July Market Report

July 2025 Toronto Real Estate Market Update

By Monthly Market Updates

A Stronger Summer Showing

The Toronto real estate market delivered its strongest July sales performance since 2021 — a welcome shift after a slow start to the year. According to the Toronto Regional Real Estate Board (TRREB), 6,100 homes were sold across the GTA last month. That’s a 10.9% increase over July 2024.

New listings also climbed to 17,613, up 5.7% year-over-year. But with sales rising faster than listings, the market saw a modest tightening — signalling that more buyers are finding opportunities to jump in.

Are Prices Still Falling?

Yes — but there’s more to the story.

The MLS®Home Price Index (HPI) Composite Benchmark was down 5.4% compared to last year, while the average selling price dropped 5.5% to $1,051,719.

Month-over-month, prices held steady — suggesting the bottoming-out trend we started to see in June may be sticking around.

“Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales,” said TRREB President Elechia Barry-Sproule.

On the Ground: More Buyers, Faster Sales

From what we’re seeing firsthand — buyers are back.

Between back-to-back interest rate cuts earlier in 2025 and greater affordability in key segments (especially entry-level condos and townhomes), buyer activity is up. Homes are selling faster, showing traffic has picked up, and serious buyers are making moves.

This is the second month in a row that sales have outpaced new listings on a seasonally adjusted basis — a trend worth watching as we head into the fall market.

Rate Relief & Economic Outlook

While the Bank of Canada held its key rate at 4.25% in July, economists expect another cut may be on the table this fall (September is the next meeting).

Mortgage rates have already reacted, with many 5-year fixed options dipping below 5% — making ownership slightly more attainable for buyers who were previously priced out.

But the economic picture remains mixed. As TRREB’s Chief Market Analyst Jason Mercer notes:

“Recent data suggest that the Canadian economy is treading water… further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth.”

What About the Foreign Buyer Ban?

Despite its name, the foreign buyer ban isn’t an outright block. There are several exemptions that allow non-residents to purchase real estate in Canada, including:

  • Multi-unit buildings with 4+ units
  • Vacant land and development parcels
  • Recreational and rural properties
  • Purchases by international students and temporary workers under defined rules

This is important context for developers and investors looking at multiplex conversions or purpose-built rentals.

Key Stats at a Glance (July 2025)

MetricValueYoY Change
Home Sales (GTA)6,100+10.9%
New Listings17,613+5.7%
Avg. Selling Price$1,051,719-5.5%
MLS® HPI Composite—-5.4%
BoC Key Interest Rate4.25%—
5-Year Fixed Mortgage Rates~4.89%Lower than 2024

What Buyers and Sellers Should Know Right Now

For Buyers:

  • Timing is on your side. With prices flat month-over-month and rates slowly trending down, conditions are more favourable than they’ve been in years.
  • Competition is still manageable, but we expect that to shift as fall approaches — don’t sleep on pre-approval and fast decision-making.
  • Condos and townhomes are heating up, especially in midtown and west-end pockets. If you’ve been on the sidelines, now’s the time to revisit your strategy.

For Sellers:

  • Pricing matters more than ever. Overpricing is a fast track to stagnation — strategic pricing is key in this transitional market.
  • Presentation counts. With more motivated buyers, staging, pre-inspections, and marketing make a real difference.
  • We’re seeing faster sales for homes that show well and are priced right — especially in walkable, transit-connected neighbourhoods.

Final Thoughts

Affordability is improving. Buyer confidence is growing. And if July’s numbers are any indication, we’re moving toward a more balanced market.

With fall just around the corner, there’s likely more activity — and more competition — to come.

If you’re planning to buy, sell, or just want to know how the shifting market affects your next move, reach out to us here.

Want a better sense of your home’s current value? Get your free evaluation and we’ll show you what today’s buyers are paying.

Mar 01
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Aerial view of the Joel Weeks Park in Toronto

February 2025 Toronto Real Estate Market Update

By Monthly Market Updates

A Cooler Month, But Buyers Hold the Advantage

February 2025 delivered another month of subdued sales across the Greater Toronto Area (GTA) real estate market—but for buyers, the upside was choice. TRREB reported just 4,037 sales through the MLS system, marking a 27.4% decline compared to the same time last year. However, new listings climbed 5.4% year-over-year to reach 12,066. That surge in inventory gave buyers the upper hand in negotiations, especially those less reliant on financing.

So why the slowdown? In a word: affordability. Mortgage rates are still biting into monthly budgets, keeping many would-be buyers on the sidelines – the desire to buy is there, but the numbers don’t yet pencil out for the average household.

Average Prices Dip—But There’s Context

With demand down and supply up, prices followed suit. The average selling price across the GTA landed at $1,084,547 in February—down 2.2% from a year earlier. The MLS Home Price Index (HPI) Composite benchmark dipped 1.8% over the same period.

Month-over-month metrics (adjusted for seasonality) also edged slightly lower, suggesting softness in the short term. But this isn’t necessarily a red flag. Market lulls this time of year aren’t unusual, and we’re still navigating some choppy economic waters.

Confidence in Limbo: Rates, Trade & Political Unknowns

Beyond borrowing costs, there’s a broader confidence issue brewing. TRREB Chief Market Analyst Jason Mercer highlighted that some buyers appear to be adopting a wait-and-see mindset. Concerns about Canada’s trade relationship with the U.S. and uncertainty around provincial and federal housing policies have added to the hesitancy.

What happens next may come down to two things: policy clarity and interest rate direction. A decline in borrowing costs—which many economists expect by mid-2025—could help reinvigorate the market. But consumers will likely want more reassurance about economic stability before jumping in.

What to Watch for This Spring

There’s still room for optimism as we move toward the busier spring market. A few key things to watch:

  • Rate relief: Even a modest drop could expand affordability for first-time buyers.
  • Inventory pressure: With listings up, sellers may need to sharpen their pricing.
  • Confidence comeback: If political and trade tensions cool, pent-up demand could be unleashed.

We’re not in recovery mode just yet—but the foundation is being laid.

Should You Buy Now or Wait?

The answer depends on your situation. For upsizers, downsizers, and cash-ready buyers, today’s inventory-heavy market offers more choice and more leverage than we’ve seen in years. If you’re in a position to act, this lull could be an opportunity.

That said, if your budget is tightly tied to interest rates, waiting a few more months could mean accessing more purchasing power.

One thing remains clear: Toronto’s real estate market is still very neighbourhood-driven. While the overall stats show a slowdown, specific pockets might tell a different story. As always, smart strategy starts with local insight.

Want to chat further? Send us a message below!