Toronto & GTA Housing Market
July 2026 data · Updated August 12, 2026Source: TRREB Market Watch, July 2026
The Greater Toronto Area housing market tightened in July 2026, but not because demand surged — because supply pulled back. Sales were nearly flat against a year earlier at 5,995, while new listings fell 17.8% to 14,484.
Prices are still soft. The benchmark home price was $934,600, down 4.6% year-over-year, and buyers continue to pay an average of 97% of asking. This page tracks those figures month by month.
GTA headline figures for July 2026
Benchmark price
$934,600
-4.6% year-over-year
Average price
$1,003,956
-4.5% year-over-year
Median price
$860,000
-5.5% year-over-year
Home sales
5,995
-0.9% year-over-year
New listings
14,484
-17.8% year-over-year
Months of supply
4.4
3–5 months = balanced
GTA prices by property type
The headline number hides a split market. Affordability-oriented segments are holding value best, while the most expensive segments are absorbing the steepest declines.
| Property type | Average price | 1-year change | Sales |
|---|---|---|---|
| Detached | $1,291,690 | -5.1% | 2,789 |
| Semi-detached | $964,922 | -7.3% | 557 |
| Freehold townhouse | $903,986 | -2.7% | 567 |
| Condo townhouse | $704,367 | -5.3% | 436 |
| Condo apartment | $636,323 | -2.3% | 1,564 |
City of Toronto vs. the wider GTA
The 416 tightened faster than the region as a whole in July 2026. City sales rose 1.7% year-over-year — against a flat GTA — while new listings fell 17.1%, pushing the city's sales-to-new-listings ratio to 45% versus 41.4% regionally.
City of Toronto benchmark
$928,200
-3.8% year-over-year
City of Toronto average
$1,010,836
-3.2% year-over-year
What this means
If you're buying
Selection has narrowed — 26,098 active listings, down 12.1% year-over-year — but 4.4 months of supply still leaves room to compare and negotiate. Condo apartments combine the shallowest price decline with the lowest entry point. To see what income each segment now requires under the stress test, check the GTA Income-to-Buy Index. Before you budget, run your closing costs through the Ontario land transfer tax calculator.
If you're selling
You face materially less competition than a year ago, but the market is not rewarding ambitious pricing: homes are still trading at 97% of list and sitting 32 days. Accurate pricing from day one remains the difference between a clean sale and a stale listing — particularly for semi-detached and higher-priced detached homes, which showed the weakest annual results.
Common questions
Are house prices dropping in Toronto right now?
Yes, but more slowly than the headline average suggests. The MLS Home Price Index benchmark — the cleanest measure, because it tracks a typical home rather than whatever happened to sell — was $934,600 in July 2026, down 4.6% year-over-year and just 0.7% month-over-month. The average price fell further because a larger share of lower-priced homes changed hands, not because every home repriced.
Is the GTA a buyer's or seller's market?
Balanced, but tightening. Months of supply sat at 4.4 in July 2026 — inside the three-to-five-month range that indicates balance — and the sales-to-new-listings ratio was 41.4%. Homes still sold at an average of 97% of list price and took 32 days, so buyers retain negotiating room even as supply falls.
Why did new listings fall so sharply?
New listings were 14,484 in July 2026, down 17.8% from a year earlier. Owners who do not need to sell are largely choosing to wait rather than accept current pricing. That is what is tightening the market: supply is contracting faster than demand is weakening.
What is the difference between the average and benchmark price?
The average price is simply the mean of everything that sold, so it swings with the mix of homes trading in a given month. The MLS HPI benchmark prices a 'typical' home with consistent attributes, which strips out mix effects. When the average falls much faster than the benchmark — as it did this month — it usually means cheaper homes made up more of the sales, not that values broadly collapsed.
Where does this data come from?
Directly from TRREB Market Watch, July 2026, the Toronto Regional Real Estate Board's monthly release covering all TRREB MLS System activity across the GTA. This page is updated in place on each release rather than republished as a new article.
Recent coverage
- Rents Fell for a 22nd Straight Month — and GTA Condo Investors Are Now Squeezed From Both Ends
- GTA July 2026: Sellers Walked Away, Not Buyers — and Ajax Is Now Tighter Than Any Market in the GTA
- GTHA renters just set a leasing record — but vacancy is still worse than last year
- June Inflation Cooled to 2.8% — But the Number That Matters for Ontario's Fall Rate Call Is Now Under 2%
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Figures are sourced from TRREB Market Watch, July 2026. This page is updated in place with each monthly release. Market data is reported for the Greater Toronto Area as defined by TRREB and is not investment advice.