August 2026 Market UpdateIn August 2026, GTA new listings fell 14%, while sales remained fairly steady, down just 2%.With fewer homes available, competition could increase and put upward pressure on
July 2026 Market Update
Dated: August 12 2026
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July 2026 Market Update
Here’s your real estate market minute for July 2026
Last month, the Toronto real estate market experienced tighter conditions compared with the same period last year.
While home sales declined by less than 1% and the average selling price decreased by nearly 5%, the most notable change was in new listings, which fell by almost 20%.
These trends indicate that demand for housing remains relatively steady, while the supply of available homes has declined. As a result, buyers are entering a more competitive market, with fewer properties available and increased competition from other prospective buyers.
Interestingly, despite the decline in the average sale price, the Home Price Index actually increased from June to July.
This suggests that comparable types of homes were selling for more in July than they were in June, even though the overall average sale price declined.
This can be explained by a larger share of homes being sold at a lower price point like condos or townhouses.
Reportedly, many potential buyers are holding off on purchasing a home until they have greater confidence in the housing market and the broader economy.
We call it the “reverse urgency” effect. A few years ago, when home prices were climbing month after month, buyers felt pressured to act quickly because delaying a purchase could mean paying more and missing out on potential equity gains.
In today’s market where prices are declining, buyers feel that waiting works in their favour, with the expectation that homes could become more affordable with time.
Right now, we seem to be in a stable environment without significant price growth or decline from year to year. As expected, we’re seeing busy Spring and Fall markets where prices increase, and slower Summer and Winter markets where prices level out.
It’s important to note that this is our second year of population declines, breaking the streak of consistent growth that we’ve seen since the 80s.
So, despite a falling population, our economy and housing market are stable and beating expectations — but what will happen when we return to a consistent pace of immigration and population growth?
Honestly, we are feeling pretty optimistic. In 2027, Canada is expected to lift the foreign buyer ban. The immediate effect will be an increase in demand.
We’ll monitor how the market responds to this shift as we prepare for a busy fall season, which usually kicks off just after Labour day in September.
Here's what happened last month in the GTA:
HERE'S WHAT HAPPENED LAST MONTH IN THE GTA:
• Greater Toronto Area REALTORS reported 5,995 home sales in the GTA; a decrease of 0.9% compared to July 2025.
• There were 14,484 new listings in the GTA; a decrease of 17.8% compared to July 2025.
• The average selling price for all home types reportedly decreased by 4.5% compared to July 2025.
• The average condominium apartment price decreased by 2.3% compared to July 2025.
Zubin Abuwalla
Zubin is an award-winning ReMax Realtor® with an impeccable track record of sales and customer service, having established himself as a Real Estate Agent that walks the walk, also being a passionate ....
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Toronto Real Estate Board (TRREB); All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating