Sales activity softened compared to last year, with 53 transactions versus 62 in January 2025, a 14.52% decrease. Despite fewer sales, prices remained resilient: the average sale price rose to $868,968, up 1.47% year over year. New listings also edged down, totaling 176 compared to 191 last January (–7.33%), while homes took slightly longer to sell, with average days on market increasing from 42 to 44 (+4.76%). By property type, detached homes led in value with an average price of $1,358,917 (12 sales), followed by freehold townhomes at $1,141,500 (2 sales), semi-detached at $906,667 (3 sales), condo townhomes at $776,475 (8 sales), and condo apartments at $661,911 (28 sales). Overall, the data suggests a market balancing lower volume with steady pricing, offering opportunities for both buyers and sellers.

GTA Home Sales and Prices Expected to Remain Stable in 2026 Amid Ongoing Affordability Pressures

02/04/2026

TRREB Releases Highly-Anticipated 2026 Market Outlook and Year in Review Report

The Toronto Regional Real Estate Board’s (TRREB) 2026 Market Outlook and Year in Review report highlights a housing market shaped by improved buyer choice and affordability, alongside cautious consumer sentiment across the Greater Toronto Area (GTA).

The report finds that elevated supply levels are expected to keep price growth in check through 2026, while overall home sales activity is forecast to remain within a similar range compared to the last three years, with the potential for improvement later in the year if the economy remains resilient and consumer confidence strengthens.

This year’s sought-after report and interactive digital digest include new Ipsos consumer polling results, insights into homebuying intentions, and TRREB’s outlook on home sales and average prices, alongside research examining housing supply, migration, and affordability pressures across the region.

The 2026 Outlook
For 2026, TRREB forecasts:

• GTA home sales will range between 60,000 and 70,000 transactions. Market activity in the first half of the year is expected to resemble 2025 levels, as many households remain cautious about committing to long-term mortgage payments. If economic prospects and consumer confidence improve in the second half of the year, pent-up demand from the past several years could begin to be satisfied.

• The GTA average price forecast range for 2026 is between $1 million and $1.03 million. Elevated inventory levels across most market segments are expected to continue providing buyers with substantial negotiating power, particularly in the condominium apartment market. Average selling prices will likely be lower year-over-year in the first half of 2026 before stabilizing in the second half, if buyers start moving off the sidelines and market conditions tighten.

The Ipsos Home Buyers Survey found that GTA homebuying intentions for 2026 declined by five percentage points compared to 2025, to 22 per cent, despite improved affordability. This highlights challenges with consumer confidence vis-à-vis current economic uncertainty.

Despite softer overall buying intentions, first-time buyers could be a key driver of recovery in the months ahead. Ipsos polling shows that 45 per cent of intending homebuyers in 2026 will be first-time buyers, underscoring the importance of attainable ownership options.

Ipsos research also points to sustained rental demand across the GTA in 2026, supported in part by continued immigration, with many newcomer households renting before transitioning into homeownership.

Despite improved affordability in the homeownership market, Ipsos found that renter households face a gap of nearly $600 per month between affordable mortgage payments and the mortgage payments required to purchase the type of home they want. This affordability gap may result in many households remaining in the rental market longer than anticipated.

” The housing market reflects the tension many households are feeling as we look ahead to 2026. Affordability has improved, but uncertainty continues to weigh on long term decisions like homeownership. Greater economic clarity in the months ahead could restore confidence and help unlock demand that has been building for several years,” said TRREB President Daniel Steinfeld.

“With the cost of borrowing flattening out, affordability gains in 2026 will largely be seen on the pricing front, as buyers continue to benefit from negotiating power. A boost in consumer confidence could see buyers move off the sidelines later this year, which could provide support for home prices as market conditions tighten up,” said TRREB Chief Information Officer Jason Mercer.

The report also includes new research examining the impacts of population growth and migration, traffic congestion, and policy challenges affecting housing delivery across the region, along with recommendations aimed at addressing planning delays, development costs, and barriers within Ontario’s housing and infrastructure systems.

“At TRREB, we focus on actions that can make the greatest impact,” said TRREB CEO John DiMichele. “That means pursuing innovative, future-facing solutions, including planning systems that approve building housing more efficiently, a tax environment that supports affordability, and a long-term commitment to purpose-built rental construction. These elements help create a balanced and predictable housing market, and this increases consumer confidence.”

The 2026 Market Outlook and Year in Review Report covers all aspects of the GTA real estate market, including trends for new homes and condominiums, as well as a review of the commercial real estate market.

For more insights, head to the digital digest and download the full report.

TRREB is also releasing January 2026 statistics and its latest monthly Market Watch publication.

There were 3,082 home sales reported in January 2026 – down by 19.3 per cent compared to January 2025. New listings entered into the MLS® System amounted to 10,774 – down by 13.3 per cent year-over-year.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by eight per cent year-over-year in January 2026. The average selling price, at $973,289, was down by 6.5 per cent compared to January 2025.

On a seasonally adjusted basis, January 2026 home sales were down month-over-month compared to December 2025, while new listings were up slightly. Both the MLS® HPI composite and average price trended lower compared to December.

GTA REALTORS ® Release December Stats TORONTO, ONTARIO, January 7, 2026 - Annual Greater Toronto Area (GTA) home sales declined in 2025 compared to 2024, as economic uncertainty weighed on consumer confidence. Over the same period, listing inventory remained elevated, allowing for selling prices to be negotiated downward, helping improve affordability. 

“The GTA housing market became more affordable in 2025 as selling prices and mortgage rates trended lower. Improved affordability has set the market up for recovery. Once households are convinced that the economy and labour market are on a solid footing, sales will increase as pent-up demand is satisfied,” said Toronto Regional Real Estate Board (TRREB) President Daniel Steinfeld. 

For calendar year 2025, GTA REALTORS® reported 62,433 home sales through TRREB’s MLS® System – down by 11.2 per cent compared to 2024. New listings amounted to 186,753 – up by 10.1 per cent year-over-year. The annual average selling price in 2025 was $1,067,968 – down by 4.7 per cent compared to $1,120,241 in 2024. 

There were 3,697 home sales reported in December 2025 – down by 8.9 per cent compared to December 2024. New listings entered into the MLS® System amounted to 5,299 – up by 1.8 per cent year-over-year. 

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 6.3 per cent year-over-year in December 2025. The average selling price, at $1,006,735, was down by 5.1 per cent compared to December 2024. 

On a seasonally adjusted basis, December home sales were down slightly month-over-month compared to November 2025, while new listings were up. The MLS® HPI composite trended slightly lower compared to November while the average selling price edged higher. 

“Reaffirmed trade relationships and large-scale domestic economic development projects will be key for improved home sales moving forward. GTA households must be confident in their employment situation before committing to long-term monthly mortgage payments, even in this more affordable market,” said TRREB Chief Information Officer Jason Mercer. 

“We urge governments at all levels to take action now to provide tax relief for consumers and help ease the rising cost of living. Families and individuals need financial breathing room so they can afford a home or apartment and meet their basic needs. Fair and responsible tax policies can put more money back into people’s pockets, restore consumer confidence, and rebuild trust in the economy. These actions are essential to support stable households and create an economy that works for everyone,” said TRREB CEO John DiMichele.

11/04/2025

Home sales in the Greater Toronto Area (GTA) were down year-over-year in October, while new listings were up. Market conditions continued to favour homebuyers, as average selling prices were negotiated down alongside lower mortgage rates.

“Buyers who are confident in their employment situation and ability to make their mortgage payments over the long term are benefitting from affordable housing market conditions relative to the past few years. However, many intending homebuyers remain on the sidelines due to uncertainty about their economic future,” said TRREB President Elechia Barry-Sproule.

GTA REALTORS® reported 6,138 home sales through TRREB’s MLS® System in October 2025 – down by 9.5 per cent compared to October 2024. New listings entered into the MLS® System amounted to 16,069 – up by 2.7 per cent year-over-year.

On a seasonally adjusted basis, October home sales were down month-over-month compared to September 2025. New listings were also down compared to September.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by five per cent year-over-year in October 2025. The average selling price, at $1,054,372, was also down by 7.2 per cent compared to October 2024.

On a month-over-month seasonally adjusted basis, the MLS® HPI Composite was essentially flat compared to September. The average selling price was down compared to September.

“The monthly mortgage payment for an average-priced GTA home continued to trend lower in October, benefitting from both lower borrowing costs, and lower selling prices. This means more buyers can now afford to purchase a home that meets their housing needs. Once we have more certainty on the economic front, including trade with the U.S. and China, home sales should increase,” said TRREB Chief Information Officer Jason Mercer.

“Housing is essential economic infrastructure. As the population continues to grow, innovation and private capital are required to accelerate new construction across all housing types. Governments can help by modernizing tax rules, cutting buyer costs, and ending exclusionary zoning. Working together, we can rebuild confidence, create jobs, and deliver the homes Ontarians need. We have to act now,” said TRREB CEO John DiMichele.

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GTA Numbers Show Strongest July Home Sales in Four Years

The Greater Toronto Area (GTA) experienced the best home sales result for the month of July since 2021. Sales were also up relative to listings, suggesting a modest tightening in the market compared to last year.

“Improved affordability, brought about by lower home prices and borrowing costs is starting to translate into increased home sales. More relief is required, particularly where borrowing costs are concerned, but it’s clear that a growing number of households are finding affordable options for homeownership,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule.

GTA REALTORS® reported 6,100 home sales through TRREB’s MLS® System in July 2025 – up by 10.9 per cent compared to July 2024. New listings entered into the MLS® System totalled 17,613 – up by 5.7 per cent year-over-year.

On a seasonally adjusted basis, July home sales increased month-over-month compared to June 2025. New listings also rose compared to June, but by a much lesser rate. With sales increasing relative to listings, market conditions tightened.

The MLS® Home Price Index Composite benchmark fell by 5.4 per cent year-over-year in July 2025. The average selling price, at $1,051,719, was down by 5.5 per cent compared to July 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price remained flat compared to June.

“Recent data suggest that the Canadian economy is treading water in the face of trade uncertainty with the United States. A key way to mitigate the impact of trade uncertainty is to promote growth in the domestic economy. The housing sector can be a catalyst for growth, with most spin-off expenditures accruing to regional economies. Further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth,” said TRREB Chief Information Officer Jason Mercer.

“Despite widespread belief that the federal foreign buyer ban prohibits all foreign nationals from purchasing residential properties in Canada, there are exemptions that allow nonresidents to buy property, resulting in spin-off benefits to the economy. Foreign buyers can purchase multi-unit buildings with four or more units and vacant land or land for development. Non-residents can also buy other residential properties outside urban centres, including recreational properties,” said TRREB CEO John DiMichele.

“Moreover, temporary workers and international students can purchase residential property under defined circumstances under the ban extended until January 2027,” continued DiMichele.