The Toronto housing market is moving through another period of adjustment, and the August numbers from the Toronto Regional Real Estate Board (TRREB) paint a clear picture: buyers have more choice, while sellers are facing increased competition.
📊 Key August Highlights
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Sales: 5,211 (down 2.3% year-over-year)
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New Listings: 14,038 (up 9.4%)
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Active Listings: 27,495 (up 22.4%)
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Months of Inventory: 5.28 (a more balanced market)
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Average GTA Price: $1,022,143 (down 5.2% YoY / down 2.8% MoM)
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Days on Market: 33 (homes selling at 97% of asking price on average)
With more properties hitting the system and inventory building, buyers are taking their time, exploring options, and negotiating harder. Sellers can no longer rely on quick bidding wars—pricing and marketing strategies are more important than ever.
💡 What’s Selling, and for How Much?
Nearly 70% of transactions are taking place in the $600,000–$1.5 million range, while only 5.1% of sales crossed the $2 million mark.
Here’s the average price by property type across the GTA:
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Detached Homes: $1,312,240 (↓7.5% YoY / ↓3.6% MoM)
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Semi-Detached: $980,102 (↓4.2% YoY / ↓5.9% MoM)
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Townhomes: $860,178 (↓3.8% YoY / ↑1.3% MoM)
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Condo Apartments: $642,195 (↓5.0% YoY / ↓1.4% MoM)
Detached homes remain the most popular, accounting for 46.3% of all transactions, followed by condos at 26.3%, townhomes at 17.8%, and semis at 8.5%.
🔎 What This Means for Buyers
If you’re looking to buy, this is one of the most favourable markets we’ve seen in years. With more inventory and slower sales, you’ve got more choice and negotiating power than you would have had even a year ago. Buyers who come prepared with financing and a clear plan can secure great opportunities.
🔎 What This Means for Sellers
If you’re thinking of selling, strategy is everything. Overpricing can leave your home sitting on the market, which often leads to price reductions and weaker offers down the road. Sellers who set realistic expectations, highlight their home’s unique value, and market it aggressively will stand out in today’s competitive environment.
🚀 Looking Ahead
As we move into September, activity is expected to pick up. More listings are hitting the market, and buyers who were away for the summer are re-engaging. Whether you’re buying or selling, success comes down to being well-prepared, data-driven, and strategic.
Thinking About a Move?
Whether you’re planning to buy, sell, or just want to better understand where the market is headed, I’m here to help. Let’s connect and build a plan that works for you.
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Michael Kelly | Realtor®
📱 647-408-5226
🌐 michaelkellyhomes.com
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