| Michael Taylor Real Estate

GTA Market Report — July 2026 | Michael Taylor Real Estate

July was a quieter month for supply, not for demand — new listings dropped 17.8% year-over-year while sales held nearly flat. That combination is what's pulling the market toward balance even as prices stay below last year's levels. If you've been waiting for a clear signal on timing, this is the month worth paying attention to.

Total Home Sales

5,995

↓ 1.7% year-over-year · ↓ 11.4% month-over-month

New Listings

14,484

↓ 17.8% year-over-year · ↓ 16.2% month-over-month

Avg. Selling Price (GTA)

$1.00M

↓ 4.5% year-over-year · Down 5.2% month-over-month

City of Toronto Avg. Price

$1.01M

Median 32 days on market · 97% sale-to-list ratio

Sales vs. Listings, Year-over-Year

GTA — July comparison

Total Sales

6,099 (2025) 5,995 (2026)

New Listings

17,620 (2025) 14,484 (2026)

Sales barely moved. Listings didn't show up — that gap is what's tightening the market.

Average Price by Property Type

GTA — contextual data, July 2026

Detached

$1.29M

Semi-Detached

$965K

Freehold Town.

$904K

Condo Town.

$704K

Condo Apt.

$636K

"Buyers may find there is less room to negotiate moving forward."

— Daniel Steinfeld, President, Toronto Regional Real Estate Board (TRREB)

Performance by Property Type

Property Type	Avg. Price	YoY Change
Detached	$1,291,690	−5.1%
Semi-Detached	$964,922	−7.3%
Freehold Townhouse	$903,986	−2.7%
Condo Townhouse	$704,367	−5.3%
Condo Apartment	$636,323	−2.3%

Detached $1,291,690

−5.1% YoY

Semi-Detached $964,922

−7.3% YoY

Freehold Townhouse $903,986

−2.7% YoY

Condo Townhouse $704,367

−5.3% YoY

Condo Apartment $636,323

−2.3% YoY

If You're Buying

You're still negotiating from a decent position — homes are selling at 97% of list and taking 32 days on average. But the pool of new listings shrank 17.8% year-over-year, so the choice you have today may not still be there in the fall.

Get your financing and search criteria locked in now, while you still have room to be selective.

If You're Selling

With 41.4% of listings converting to sales this month, well-priced homes are moving. Price at or near benchmark, not last year's number — buyers are still price-sensitive and won't chase an ambitious list price.

If you're buying your next home too, the tighter supply cuts both ways: less competition to sell into, less selection to buy from.

On Condos Specifically

Condo apartments posted the smallest price decline of any segment this month, down just 2.3% year-over-year to $636,323, while leading all property types in sales volume at 1,564 transactions.

That resilience doesn't mean condo prices are about to climb — it means this segment has already absorbed most of its correction, which is worth knowing if you're weighing entry points.

On Market Timing

TRREB's own read is that continued supply tightening could bring average prices in line with 2025 levels later this year. That's not a prediction of a sudden turn — it's a gradual firming, month over month.

People who plan 6-12 months ahead consistently make better decisions than people who wait for a perfect signal that rarely arrives on schedule.

SUPPLY TIGHTENING

New listings have now declined double-digits year-over-year for several months running. If sellers keep sitting on the sidelines into the fall, expect months of inventory to keep compressing from its current 4.4 reading.

RATE CLARITY

TRREB officials point to improving economic and jobs data as a potential confidence booster. Buyers who've been waiting for certainty on borrowing costs may start moving if that trend holds through Q3.

CONDO RESILIENCE

Condo apartments led sales volume and posted the smallest price decline in July. If buyer demand keeps concentrating in this segment, it's likely to lead any broader recovery in activity through year-end.

Toronto Real Estate Market Report For July 2026

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