By Irina Marchenkova, Sales Representative, RE/MAX Realtron Realty Inc., Brokerage, Seniors Real Estate Specialist (SRES®) · Published October 2026, based on TRREB’s September 2026 Market Watch report.
Buyers in the Greater Toronto Area took a step back in September 2026. Home sales fell 9% from a year earlier, new listings dropped even more, and prices were modestly below last year’s levels. TRREB pointed to uncertainty about the economy, inflation and borrowing costs as the main reason many households held off, while noting that there is still substantial pent-up demand from buyers who plan to purchase in the months ahead.
September 2026 at a glance
| Measure (all home types, GTA) | September 2026 | vs. September 2025 |
|---|---|---|
| Home sales | 5,040 | −9.0% |
| New listings | 16,500 | −14.4% |
| Average selling price | $1,006,409 | −5.1% |
| Median selling price | $860,000 | — |
| MLS® HPI composite benchmark | $917,600 | −4.7% |
| Average sale-to-list price ratio | 98% | — |
| Average days on market (listing) | 34 | 33 a year ago |
| Active listings at month-end | 26,131 | — |
| Months of inventory | 4.6 | — |
Compared with August, the benchmark price slipped from $925,900 to $917,600. TRREB reports that on a seasonally adjusted basis, both sales and new listings were down from August, and the benchmark and average price edged lower.
Prices by home type
| Home type (GTA) | Benchmark price | vs. a year ago |
|---|---|---|
| Detached | $1,196,400 | −4.8% |
| Semi-detached | $912,000 | −4.8% |
| Townhouse | $668,800 | −6.5% |
| Condo apartment | $527,200 | −6.7% |
Condo apartments and townhouses continue to see the largest declines, while detached and semi-detached prices fell by a little less. Townhouse sales also dropped the most of any major home type.
Prices by region
| Region | Benchmark price | vs. a year ago | Homes sold | Average price |
|---|---|---|---|---|
| City of Toronto | $908,200 | −3.8% | 1,937 | $1,034,320 |
| Halton Region | $953,100 | −3.4% | 502 | $1,139,025 |
| Peel Region | $864,300 | −4.8% | 936 | $906,719 |
| York Region | $1,080,400 | −6.5% | 893 | $1,136,650 |
| Durham Region | $805,600 | −5.2% | 552 | $828,141 |
| Dufferin County | $715,700 | −2.6% | 33 | $746,322 |
| Simcoe County | $762,300 | −7.2% | 187 | $810,453 |
Halton and the City of Toronto held up best, while York Region and Simcoe County saw the largest annual declines. Within Toronto, Etobicoke’s districts stood out: W06 (Mimico, New Toronto, Long Branch), W07 and W08 were the only three of Toronto’s 35 districts where the composite benchmark rose year over year. The steepest district declines were in C06 (Bathurst Manor area, down 11.3%) and in parts of Scarborough such as E11 and E04.
Among other GTA towns, Orangeville, Burlington and Oakville saw the smallest declines (about 3% or less), while Uxbridge, Brock and Georgina fell by roughly 10% to 11%.
What this means for buyers
- You have time and choice. With 4.6 months of inventory, most buyers can compare homes and negotiate on price and conditions.
- Condos and townhouses offer the most room to negotiate, as their prices have fallen the most.
- Get pre-approved first. Try my mortgage calculator to compare payments, and read the first-time buyer guide.
- Don’t wait for a perfect bottom. TRREB expects pent-up demand to return, and well-priced homes in popular areas can still attract competition.
What this means for sellers
- Price for today’s market. Buyers compare carefully, and homes priced in line with recent sales sell faster and closer to asking.
- Presentation matters more when buyers have choice: small repairs, staging and great photos help your home stand out.
- Fewer new listings means less competition for sellers who do list now.
- Know your number. Get a free home evaluation based on recent sales near you.
Local prices in your area
Every one of my 63 neighbourhood guides has been updated with September 2026 benchmark prices, a 12-month price chart and a monthly cost calculator. You can also compare the most affordable neighbourhoods and the best neighbourhoods for families. Renting instead? See what has happened to Toronto rents over the past year.
September 2026 market FAQ
Are GTA home prices still falling?
Yes, modestly. In September 2026 the MLS® Home Price Index composite benchmark for the GTA was $917,600, down 4.7% from a year earlier, and the average selling price was $1,006,409, down 5.1%. On a seasonally adjusted basis, both edged lower from August.
Is it a buyer’s market in Toronto right now?
Conditions are balanced to slightly in buyers’ favour. There were about 4.6 months of inventory in September, and homes sold for about 98% of list price on average, so most buyers have room to negotiate, although well-priced homes in popular areas can still sell quickly.
Why did GTA home sales drop in September 2026?
TRREB says many buyers waited on the sidelines because of uncertainty about the economy, inflation and borrowing costs. It also noted substantial pent-up demand, with many households still planning to buy in the months ahead.
Want to know what this means for your home?
Every street is different. Call or text 416-846-8064 or send me a message for a free, no-obligation market report on your neighbourhood, in English or Russian.
Source: Toronto Regional Real Estate Board (TRREB), Market Watch, September 2026. General information, not financial advice.