September 2026 GTA Market Report from Michael Taylor Real Estate Services

GTA Market Report — September 2026 | Michael Taylor Real Estate

September didn't bring the usual fall pickup — GTA sales fell 9.0% year-over-year, and new listings fell even faster, down 14.4%. With the average price now 5.1% below last year, the market is in a slow, steady cooldown rather than a sharp drop. If you're planning a move in the next year, this is a market where you have time to prepare and room to negotiate.

Total Home Sales

5,040

↓ 9.0% year-over-year · ↓ Lower month-over-month (seasonally adjusted)

New Listings

16,500

↓ 14.4% year-over-year · ↓ Lower month-over-month (seasonally adjusted)

Avg. Selling Price (GTA)

$1.01M

↓ 5.1% year-over-year · Edged lower month-over-month (seasonally adjusted)

City of Toronto Avg. Price

$1.03M

Average 34 days on market (GTA) · 37.8% sales-to-new-listings ratio

Sales vs. Listings, Year-over-Year

GTA — September comparison

Total Sales

5,540 (2025) 5,040 (2026)

New Listings

19,270 (2025) 16,500 (2026)

Both sides pulled back. Sellers stepped away faster than buyers did.

Average Price by Property Type

GTA — contextual data, September 2026

Detached

$1.29M

Semi-Detached

$1.02M

Freehold Town.

$908K

Condo Town.

$711K

Condo Apt.

$605K

"We know there is substantial pent-up demand in the GTA, with many households fully intending on purchasing a home in the months ahead. These would-be homebuyers want to take advantage of today's more affordable housing market, but they need to be confident that their employment situation will remain solid and inflation will not put pressure on borrowing costs over the long term."

— Jason Mercer, Chief Information Officer, Toronto Regional Real Estate Board (TRREB)

Performance by Property Type

Property Type	Avg. Price	YoY Change
Detached	$1,292,016	−4.9%
Semi-Detached	$1,015,202	0.0%
Freehold Townhouse	$907,849	−4.2%
Condo Townhouse	$710,579	−5.0%
Condo Apartment	$605,257	−7.6%

Detached $1,292,016

−4.9% YoY

Semi-Detached $1,015,202

0.0% YoY

Freehold Townhouse $907,849

−4.2% YoY

Condo Townhouse $710,579

−5.0% YoY

Condo Apartment $605,257

−7.6% YoY

If You're Buying

Prices are working in your favour. The average GTA home sold for $1,006,409 in September, down 5.1% from a year ago, and the benchmark price slipped to $917,600. Homes took an average of 34 days to sell, so you have time to look carefully, compare, and negotiate.

The trade-off is choice. New listings fell 14.4%, so there's less to pick from than last fall. Get your pre-approval and must-haves sorted now so you can move with confidence when the right home comes up.

If You're Selling

Buyers are taking their time, with homes averaging 34 days on market, so your list price has to match today's numbers, not last year's. A detached home that might have sold near $1.36M a year ago now averages $1.29M across the GTA.

The good news is that fewer sellers listed this month, so you're competing with less inventory. If you're buying your next home too, a softer market means you can often make up on the purchase what you give up on the sale.

On Condos Specifically

Condo apartments saw the biggest price drop of any home type, down 7.6% year-over-year to an average of $605,257. Outside the city, the drop was even bigger: 905-region condo apartments averaged $533,654, down 12.0%, compared to $640,248 (down 6.1%) in the City of Toronto.

That makes condos one of the most affordable ways into the market right now. Still, a lower price doesn't automatically mean a good buy. Building finances, condo fees, and how many similar units are for sale nearby matter more than ever.

On Market Timing

This was the third straight month of year-over-year sales declines, and the benchmark price slipped 0.9% from August. TRREB points to a lot of buyers waiting on the sidelines for more confidence about jobs and borrowing costs. When that confidence comes back, activity could pick up quickly.

No one can call the bottom precisely. People who plan 6-12 months ahead consistently make better decisions than people who wait for perfect timing.

SELLERS PULLING BACK

New listings dropped 14.4% and active listings fell 9.3% to 26,131. If sellers keep waiting into the late fall, supply will keep shrinking, and that could slow price declines even if sales stay soft.

BUYER CONFIDENCE

TRREB says many households plan to buy but are waiting for job security and steady borrowing costs. Watch the upcoming Bank of Canada decisions and employment data. They're the most likely triggers for that waiting demand to return.

416 VS. 905

Detached sales fell just 4.0% in the City of Toronto, compared to 10.3% in the surrounding 905 regions. Activity is holding up better in the city while the suburbs cool faster, so where you're buying or selling matters as much as what you're buying or selling.

Toronto Real Estate Market Report For September 2026

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