10/07/2026
September numbers are in for the GTA, and the market looks to be in a holding pattern.
Home sales came in at 5,040, down 9% from September last year. New listings fell 14.4%, and active listings were down 9.3%.
So fewer homes are coming to market, and fewer deals are getting done. The important point is that supply and demand are both moving lower at roughly the same time. That helps explain why the market can feel slower without necessarily becoming dramatically more favourable to buyers.
The average GTA home sold for $1,006,409, down 5.1% from a year ago. Days on market held fairly steady, with the average for sold homes at 34 days versus 33 last year.
The slowdown isn’t just a year-over-year story. On a seasonally adjusted basis, sales and new listings were both down from August, and the average selling price edged lower as well.
The softness showed up across every segment:
- Detached sales were down 8.7%
- Semi-detached sales fell 8.2%
- Townhouse sales dropped 12.8%
- Condo apartment sales were down 7.8%
Condos are worth watching. The average condo price was $605,257, down 7.7% from last September, a steeper drop than the overall market. Average prices can shift with the mix of units sold, so I wouldn’t read that as a pure change in value.
There’s also a split between Toronto and the surrounding regions. Detached sales fell 4.0% in the 416 compared with 10.3% in the 905, while the average condo price dropped 6.1% in the 416 and 12.0% in the 905.
TRREB’s read is that buyers are waiting. Economic uncertainty, inflation and borrowing costs are weighing on decisions, even with significant pent-up demand from households that still plan to buy.
This isn’t a market where buyers have disappeared. It’s one where many appear to be waiting for more confidence before they act.
For sellers, pricing and positioning matter. For buyers, there may be opportunities, but patience and good information still count.
The GTA isn’t telling one simple story right now. If you’re thinking about buying, selling, upsizing or downsizing, let’s talk about what these numbers mean for your situation.
