GTA Real Estate Market Update: August 2026

The GTA real estate market continues to show some interesting signs as we head into the fall.

TRREB’s August numbers show that while home sales were slightly lower than they were a year ago, the bigger story is what’s happening with inventory. New listings continue to fall, and we’ve now seen seven consecutive months of declining new listings.

That’s something both buyers and sellers should be paying attention to.

August Market By The Numbers

5,057 homes sold
Down 2.1% compared to August 2025

12,075 new listings
Down 14.1% year over year

24,482 active listings
Down 11.3% from last year

$993,410 average selling price
Down 2.7% year over year

35 days on market
Homes sold for approximately 97% of the asking price

The average GTA home price remains below where it was this time last year, but the rate of decline is slowing. August’s 2.7% year over year decrease was the smallest monthly decline we've seen so far in 2026, improving significantly from the 4.5% decline recorded in July.

Detached Homes Continue To Lead

Detached homes continue to be the strongest segment of the GTA market from a pricing perspective.

Detached: $1,288,669
Down 1.8% year over year

Semi Detached: $931,665
Down 5.0%

Townhomes: $786,817
Down 8.6%

Condos: $617,593
Down 3.6%

Detached homes also accounted for almost half of all August sales, and their average price was virtually unchanged from July.

What Does This Mean For Buyers?

There are still opportunities for buyers in the GTA, and we're certainly not seeing the type of market we experienced during the peak years.

However, the declining number of listings is worth watching.

When buyers have fewer homes to choose from, competition can increase quickly, especially for well priced homes in desirable neighbourhoods.

For buyers who have been waiting for the "perfect" market to come along, it may be worth having a conversation about what is actually available today rather than trying to predict exactly where prices will be six or twelve months from now.

What Does This Mean For Sellers?

For sellers, the market is becoming a little more encouraging.

We're not suddenly in a seller's market, but the balance between supply and demand is changing. With fewer homes coming onto the market, properly priced and well presented properties have the potential to stand out.

That doesn't mean sellers should overprice their homes.

In fact, pricing strategy may be more important than ever. Buyers are still cautious and have plenty of information available to them, so understanding the competition and positioning a property correctly can make a significant difference.

Thinking About Buying Or Selling In 2026?

The GTA market is changing, and the numbers tell us that the market today isn't necessarily going to look the same six months from now.

Whether you're looking to purchase your next home, sell your current property or invest in real estate, having someone who understands the local market, neighbourhood trends and the numbers behind the headlines can make a big difference.

Real estate isn't one size fits all. The right strategy depends on your property, your goals and what is happening in your specific neighbourhood.

If you're thinking about making a move in 2026, let's have a conversation about what the current market means for you.

Michael Kelly
Sales Representative
Sutton Group Realty Systems Inc., Brokerage
647.408.5226
michaelkellyhomes.com