Every month I go through the latest numbers from the Toronto Regional Real Estate Board and pull together what’s actually worth knowing if you’re buying or selling in the GTA. Here’s August 2026, in plain terms.
August 2026 At a Glance
- Home Sales: 5,057, down 2.1% year over year
- Average Sale Price: $993,410, down 2.7% year over year
- MLS HPI Composite: down 4.5% year over year
- Sale to List Ratio: 97%, GTA-wide
New and Active Listings
- New Listings: 12,075, down 14.1% year over year
- Active Listings: 24,482, down 11.3% year over year
- Months of Inventory: 4.6, a fairly balanced market
- Days on Market: 35, up from 33 last year
My take: this is a market where supply cooled off faster than demand did. New listings and active inventory both fell by double digits while sales barely moved, and the small dip in sales was almost entirely a condo and townhouse story. Detached and semi-detached sales in the city actually grew, a little under 1% each. When fewer sellers list and buyers keep showing up in roughly the same numbers, that usually firms things up over time. Tighter inventory could mean buyers face more competition on price, but a better market for sellers also tends to pull more listings out, which gives buyers more to choose from. Nobody’s calling a turn yet.
Economic Backdrop
- Bank of Canada Rate: 2.3%
- Prime Rate: 4.5%
- 5 Year Fixed Mortgage: 6.09%
Rates have settled into a more predictable range than we saw a couple of years ago, and that’s giving some buyers the confidence to move even with prices still adjusting.
By Property Type
Where you sit in the market mattered more than the headline number, and so did which side of the city line you’re on. Across the GTA, detached homes averaged $1,288,669, down 1.8% year over year. Semi-detached averaged $931,665, down 5.0%. Condo apartments averaged $617,593, down 3.6%. Townhouses averaged $786,817, down 8.6%. Inside Toronto proper the picture shifts: detached was essentially flat at down 0.1%, semis were down just 1.8%, condos held up better at down 2.1%, and townhouses were softer than the regional figure at down 12.9%.
| Type | Avg Price (GTA) | Year over Year |
|---|---|---|
| Detached | $1,288,669 | Down 1.8% |
| Semi-detached | $931,665 | Down 5.0% |
| Townhouse | $786,817 | Down 8.6% |
| Condo Apt | $617,593 | Down 3.6% |
One caution on those averages: they move with whatever mix of homes happened to sell that month, not just with prices. The benchmark index, which compares like homes to like homes, tells a different story about who’s under the most pressure. On that measure, condo apartments are down 7.1% year over year, the weakest of any segment, while detached is down 4.5%, right in line with the market overall. Condos also carry the heaviest supply, at 32% of everything listed across the GTA but only 26% of what actually sold. If you’re selling a condo this fall, pricing strategy matters more than it has in a while.
Locally: East Toronto
East Toronto is running tighter than the region as a whole, with about 3.6 months of inventory against 4.6 across the GTA, the tightest of the three Toronto district groups. Homes sold at 99% of asking in roughly 31 days, with semis going for 102%. These figures come from the Toronto board, so they cover Toronto and the GTA specifically. If you’re watching Waterloo Region, reach out and I’ll pull those numbers for you separately. And it isn’t all one direction: at least one Toronto district, C10, is up 2.6% year over year on the benchmark, a good reminder that averages hide real neighbourhood level variation.
If any of this is relevant to a move you’re thinking about, whether buying, selling, or just watching the market for now, I’m always happy to talk it through.
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