Greater Toronto Area in September 2026
The GTA recorded 5,040 home sales in September 2026 — down 9.0% year over year — as TRREB described buyers in “a holding pattern” amid uncertainty over the economy, inflation and borrowing costs. New listings fell 14.4% to 16,500, active listings fell 9.3% to 26,131, and with 4.6 months of supply and a sales-to-new-listings ratio of 37.8% the market sits between balanced and buyer-leaning. The average selling price was $1,006,409, down 5.1% year over year, and the MLS® HPI composite benchmark was down 4.7%. On a seasonally adjusted basis, September sales and new listings were down from August.
TRREB Chief Information Officer Jason Mercer said, “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.”
Average Sold Prices — September 2026
Detached homes averaged $1.29M, still the only segment above $1M, while condo apartments at $605,257 are the most accessible GTA entry point. Sales fell in every segment year over year, with townhouses (freehold and condo combined) down the most at 12.8%, and average prices fell in every segment except semi-detached, which was flat (−0.2%). Median detached sold price was $1,100,000. All figures from TRREB Market Watch, September 2026.
| Property Type | Avg. Price | Median Price | Avg Price YoY | Sales | Sales YoY |
|---|---|---|---|---|---|
| Detached | $1,292,016 | $1,100,000 | ▼ 5.1% | 2,399 | ▼ 8.7% |
| Semi-Detached | $1,015,202 | $900,000 | ▼ 0.2% | 459 | ▼ 8.2% |
| Townhouse (freehold + condo) | $820,637 | — | ▼ 4.6% | 803 | ▼ 12.8% |
| Freehold Townhouse | $907,849 | $837,000 | — | 448 | — |
| Condo Townhouse | $710,579 | $659,000 | — | 355 | — |
| Condo Apartment | $605,257 | $520,000 | ▼ 7.7% | 1,316 | ▼ 7.8% |
Source: Toronto Regional Real Estate Board (TRREB), Market Watch, September 2026 (GTA REALTORS® release, October 6, 2026).
Supply and Demand Breakdown
New listings fell 14.4% year over year and active listings 9.3%, while sales fell 9.0% — so supply is still shrinking, but less quickly than demand, which is why the sales-to-new-listings ratio sits at 37.8% and months of supply at 4.6. Homes sold at 98% of the average list price after an average of 34 days on the market (51 days by property), against 33 days a year earlier.
What's Driving the GTA Market
Interest rates: The Bank of Canada’s overnight rate is 2.25% and the lowest published 5-year fixed rates are around 4.7%. TRREB’s economic indicators show Toronto-area employment up 1.7% year over year in August, a seasonally adjusted unemployment rate of 6.8%, and CPI inflation of 3.0% — conditions that TRREB says are weighing on buyer confidence even as housing becomes more affordable.
Listings pullback continues: New listings were down 14.4% year over year and active inventory down 9.3% to 26,131. Fewer sellers means less choice for buyers but also less downward pressure on prices; the MLS® HPI composite is down 4.7% year over year, so prices are still adjusting even as supply thins.
Condo entry point: With the average condo apartment at $605,257 and the median GTA price at $860,000, the condo market remains the primary first-rung entry point for GTA buyers. Condo apartment sales (1,316) are the second-largest segment by volume after detached (2,399), and the apartment HPI benchmark of $527,200 was down 6.7% year over year.
City vs. suburbs: The City of Toronto (416) posted 1,937 sales in September, with an average price of $1,034,320 and a median of $810,000. Sales fell less in the 416 than in the 905 for detached (−4.0% vs −10.3%), semi-detached (−0.9% vs −13.6%) and condo apartments (−5.5% vs −12.4%), while townhouse sales fell by a similar amount in both (−13.7% vs −12.5%).
Toronto Rents — September 2026
Toronto’s average asking rent for apartments and condos was $2,554/month in September 2026, down 0.6% from August and 1.4% year over year — the 32nd consecutive month of annual decline. Rentals.ca said September rents in Toronto and Vancouver were the lowest for the month since 2021. Three-bedroom rents rose 1.8% year over year to $3,586, while shared accommodation fell 3.6% to $1,189.
Source: Rentals.ca National Rent Report, October 2026 edition (September 2026 data), published October 7, 2026. View full Canadian rent report →