Updated October 7, 2026
The Greater Toronto Area housing market cooled again in September. Home sales fell 9% compared with a year ago, and the average selling price slipped 5.1%. New listings dropped even more, by 14.4%. With fewer homes coming onto the market, supply is getting tighter, and that could support prices once buyers come back.
September 2026 by the numbers
| Metric | Sep 2026 | Aug 2026 | Month-over-month | Sep 2025 | Year-over-year |
|---|---|---|---|---|---|
| Home sales | 5,040 | 5,057 | −0.3% | 5,540 | −9.0% |
| New listings | 16,500 | 12,075 | +36.6%* | 19,270 | −14.4% |
| Average selling price | $1,006,409 | $993,410 | +1.3%* | ~$1.06M | −5.1% |
| MLS® HPI Composite | — | — | — | — | −4.7% |
| Average days on market | 34 | — | — | 33 | +1 day |
*The raw month-over-month numbers go up because more homes are always listed in September. After TRREB adjusts for the season, sales, new listings and the average price were all slightly lower than in August.
How each home type performed
| Home type | Average price | Price change (YoY) | Sales change (YoY) |
|---|---|---|---|
| Detached | $1,292,016 | −5.1% | −8.7% |
| Semi-detached | $1,015,202 | −0.2% | −8.2% |
| Townhouse | $820,637 | −4.6% | −12.8% |
| Condo apartment | $605,257 | −7.7% | −7.8% |
Condos fell the most, with prices down 7.7% from a year ago. About two-thirds of GTA condos sold for less than $600,000 in September. Semi-detached prices barely moved, down just 0.2%.
What’s driving the market
- Buyers are cautious. TRREB says economic uncertainty, inflation and borrowing costs kept many buyers on the sidelines in September.
- Demand is still there. TRREB says many households still plan to buy a home once they feel more confident.
- Housing policy is on the ballot. Ahead of the municipal election, TRREB is asking governments to lower barriers to homeownership, such as Toronto’s Municipal Land Transfer Tax.
Interest rates and outlook
The Bank of Canada kept its policy rate at 2.25% on September 2, 2026. Its next decision is expected in late October. New listings are falling faster than sales, so supply is tightening. If buyer confidence returns, prices could stabilize or start to rise.
What this means for you
Buyers: Prices are still below last year’s levels, especially for condos. You have room to negotiate before supply tightens further. Sellers: Fewer homes are competing for buyers’ attention. Pricing your home realistically from the start is still the key to selling it.
Thinking about buying or selling in the GTA? Get in touch for a free market evaluation.
Sources: TRREB September 2026 Market Watch release; TRREB August 2026 release; JDL Realty; Storeys; CTV News. Statistics are from TRREB’s MLS® System.