Greater Toronto Area (GTA) resale housing market conditions tightened in February 2026 compared to February 2025. While sales were down year-over-year, new listings declined by a greater annual rate. The dip in new listings is in line with recent polling results from Ipsos which show listing intentions are down for 2026.
“Many would-be homebuyers are waiting for selling prices to level off before moving into the market. If new listings continue to trend lower through the spring, competition between homebuyers will increase, supporting home prices and a recovery in sales,” said TRREB President Daniel Steinfeld.
“There is substantial pent-up demand in the GTA ownership market, with more than 100,000 buyers holding off on making a home purchase. Buyers are waiting for selling prices to level off and for positive news on the trade front. Once we see both, there could be substantial momentum driving home sales in the second half of this year and into 2027,” said TRREB Chief Information Officer Jason Mercer.
GTA REALTORS® reported 3,868 home sales through TRREB’s MLS® System in February 2026 – down by 6.3 per cent compared to February 2025. New listings entered into the MLS® System amounted to 10,705 – down by 17.7 per cent year-over-year.
On a seasonally adjusted basis, February home sales and new listings were down month-over-month compared to January 2026. New listings were down by a greater monthly rate than sales.
The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 7.9 per cent year-over-year in February 2026. The average selling price, at $1,008,968, was down by 7.1 per cent compared to February 2025. On a month-over-month seasonally adjusted basis both the MLS® HPI Composite and the average selling price were down compared to January 2026 figures.
“The long-term sustainability of the GTA housing market depends upon the industry’s ability to bridge the gap between condominium apartments and traditional single-family homes. TRREB, with its partners in the Housing Advancement Coalition, is urging the Federal and Provincial Governments to take immediate targeted action to pave the way for increased ‘missing middle’ home construction,” said TRREB Chief Executive Officer John DiMichele.
CONDO MARKET STATS
Greater Toronto Area (GTA) condominium apartment sales were lower in the fourth quarter of 2025 compared to Q4 2024. Active condo listings at the end of the fourth quarter were up over the same period of time. With sales down and listings up on a year-over-year basis, condo buyers continued to benefit from ample choice and negotiating power on price.
There were 3,880 condominium apartment sales reported through the Toronto Regional Real Estate Board (TRREB) MLS® System in Q4 2025 – down by 15 per cent compared to 4,567 sales in Q4 2024. The number of new listings entered into the TRREB’s MLS® System was also down year-over-year by 8.1 per cent. The fact that new listings declined by a lesser rate than sales contributed to the growth in standing inventory at the end of 2025 compared to the end of 2024.
With buyers benefitting from more negotiating power, the average condo apartment selling price was down by 5.1 per cent year-over-year in Q4 2025 to $652,945 compared to the average of $687,874 in Q4 2024. The average price in the City of Toronto was $690,607 – slightly higher than the GTA average, but still down from the Toronto average of $715,920 in Q4 2024.
If consumer confidence in the economy improves in 2026, more affordable condominium apartment market conditions could prompt more first-time buyers to move out of their current rental accommodations. However, Ipsos polling continues to show that some households continue to experience a gap between an affordable mortgage payment and the required mortgage payment for the type of home they would like to purchase.
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