GTA Home Sales Edge Lower
TRREB reported 5,995 GTA home sales in July 2026, down 0.9% from a year earlier. However, seasonally adjusted sales increased 3.2% from June, showing modest month-over-month improvement. City of Toronto sales increased 2.4%, while sales across the rest of the GTA declined 2.7%.
New Listings Drop Sharply
New listings fell 17.8% year over year to 14,484, declining much faster than sales. This tightened market conditions and increased competition among active buyers for available properties. The Financial Post noted that buyers had fewer homes from which to choose.
GTA Home Prices Remain Lower
The average GTA selling price was $1,003,956, down 4.5% annually. TRREB’s composite benchmark fell 4.6%, although the seasonally adjusted benchmark edged 0.3% higher from June. Condominium apartments recorded the steepest benchmark decline at 7.35%.
Buyers May Have Less Negotiating Room
TRREB says sales now account for a larger share of listings, which could reduce buyers’ negotiating power. If this trend continues and economic confidence improves, home prices could begin stabilizing during the second half of 2026.
Planning to buy a home? Review the current Ontario mortgage rates before setting your budget.
Source: Toronto Regional Real Estate Board
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