10/15/2026
➕ The Numbers for September are in! ➕
Toronto’s fall market opened quietly, with many buyers remaining cautious amid economic uncertainty, employment concerns, inflation and the near-term direction of borrowing costs.
While fewer homes came to market than last September, buyer activity also declined. With roughly three sales for every ten new listings, purchasers continued to benefit from considerable choice and negotiating leverage. The average Toronto home price declined 5% year-over-year, suggesting that reduced inventory alone has not been enough to strengthen prices.
The results varied by property type. Semi-detached homes held their value comparatively well, while detached homes and condos experienced the greatest price adjustments. Buyers remain highly price-conscious and are focusing on properties that offer clear value.
For financially prepared buyers, current conditions may offer an opportunity to purchase with less competition, more negotiating room and more time to make decisions. For sellers, thoughtful pricing and strong presentation remain essential—buyers are comparing homes carefully and are prepared to wait when the value is not clear.
Demand has not disappeared, but greater confidence in the economy and the direction of borrowing costs may be needed before more buyers move forward.
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Average Toronto home prices by property type in September
➕Detached $1,562,966 [-7% vs. 2025]
➕Semi-detached $1,207,884 [+2% vs. 2025]
➕Townhouse $922,445 [-1% vs. 2025]
➕Condo $640,248 [-6% vs. 2025]
If you’re thinking of buying or selling, let’s talk about what these changing conditions mean for your plans.
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Data presented is for the City of Toronto only. Source: TRREB.
