The number of homes available for sale in August 2026 was down noticeably compared to last year in the Greater Toronto Area (GTA). Following this trend, home sales also edged lower, as the number of transactions was arguably limited by less choice in some neighbourhoods. Less choice and more competition between buyers could ultimately result in renewed price growth in the months ahead.
GTA REALTORS® reported 5,057 home sales through TRREB’s MLS® System in August 2026 – down 2.1 per cent compared to August 2025. New listings entered into the MLS® System amounted to 12,075 – down by 14.1 per cent year-over-year.
On a seasonally adjusted basis, August 2026 home sales were down slightly month-over-month compared to July 2026, while new listings were up.
“If inventory tightens and home prices begin to rise, some buyers may face a trade-off between waiting for greater economic certainty and purchasing before prices move higher. At the same time, improving market conditions for sellers could bring more listings to market, providing buyers with additional choice,” said Toronto Regional Real Estate Board (TRREB) President Daniel Steinfeld.
The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 4.5 per cent year-over-year in August 2026. The average selling price, at $993,410, was down by 2.7 per cent.
On a month-over-month seasonally adjusted basis, MLS® HPI Composite was essentially flat compared to July 2026. The average selling price edged up over the previous month.
“Ownership housing in the GTA has remained relatively affordable over the past year, with average prices dipping and mortgage rates remaining somewhat flat. Recent news on the overall economy and job creation has been positive. The main hold-back for many households has been concerns around trade with the United States and the potential for higher inflation and borrowing costs in the future,” said TRREB’s Chief Information Officer Jason Mercer.
“A more balanced resale market is a positive development, but it does not address Ontario’s ongoing housing supply and affordability challenges. Governments should take advantage of this opportunity to eliminate barriers to attainable housing, including restrictive zoning policies, high taxes and development charges, and lengthy approval processes. Municipalities, in particular, play a significant role in determining how much housing is built, how quickly projects move forward, and the overall cost of delivering homes,” said TRREB CEO John DiMichele.
CONDO MARKET STATS
Greater Toronto Area (GTA) condominium apartment sales increased in the second quarter of 2026 compared to the same period in 2025, while the number of new and active listings declined. With sales increasing and available inventory trending lower year-over-year, condominium apartment market conditions tightened compared to a year ago, although buyers continued to benefit from ample choice and negotiating power on price.
There were 4,783 condominium apartment sales reported through the Toronto Regional Real Estate Board (TRREB) MLS® System in Q2 2026 – up by 8.8 per cent compared to 4,395 sales in Q2 2025. New condominium apartment listings entered into the TRREB MLS® System totalled 14,042 in the second quarter of 2026, down by 19.0 per cent year-over-year. Active listings at the end of the quarter were also lower, declining by 15.4 per cent compared to the same period last year to 8,061 units. Despite tighter market conditions, the average condominium apartment selling price remained below last year’s level. The average selling price was $634,972 in Q2 2026, down by 7.5 per cent compared to $686,387 in Q2 2025. In the City of Toronto, the average selling price was $667,916, compared to $717,403 during the second quarter of 2025.
Improved affordability, supported by lower selling prices and borrowing costs compared to a year ago, encouraged more buyers to move off the sidelines and back into the condominium apartment marketplace during the second quarter. If sales continue to improve relative to available inventory in the second half of 2026, the annual rate of price decline should continue to diminish, providing a foundation for renewed price growth in 2027.
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