GTA Housing Market Tightens in July and Sets the Stage for Price Stability

TORONTO, ONTARIO, August 6, 2026 - Greater Toronto Area (GTA) resale housing market conditions tightened in July 2026 compared to the same month a year earlier. Home sales edged slightly lower over that period, while new listings were down substantially. This suggests that active homebuyers faced more competition from other potential purchasers. If this trend continues, average selling prices could level off in the second half of this year.

"With sales accounting for a larger share of listings, buyers may find there is less room to negotiate moving forward. If current trends continue, home prices could start to level off compared to last year. Many would-be homebuyers are waiting for confidence in the market and broader economy to improve before making a purchase. This includes more clarity on tariffs, inflation and borrowing costs," said TRREB President Daniel Steinfeld.

"While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall," said TRREB Chief Information Officer Jason Mercer.

Key Market Statistics for July 2026

• Home Sales: GTA REALTORS® reported 5,995 home sales through TRREB’s MLS® System in July 2026 - a slight decrease of 0.9% compared to July 2025.
• New Listings: New listings entered into the MLS® System amounted to 14,484 - down by 17.8% year-over-year.
• Average Selling Price: Came in at $1,003,956, representing an annual decline of 4.5%.
• MLS® HPI Benchmark: The Composite benchmark was down by 4.6% year-over-year.

Month-Over-Month & Seasonal Trends

On a seasonally adjusted basis, July 2026 home sales were up month-over-month compared to June 2026, while new listings were down, which means market conditions continued to tighten during the summer.

On a month-over-month seasonally adjusted basis, the MLS® HPI Composite edged up compared to June 2026, whereas the average selling price was slightly lower.

"Removing remaining municipal roadblocks to attainable housing is a pressing issue in the GTA and Simcoe County. Restrictive zoning, outdated rules, high taxes and fees, and approval delays are making housing more expensive and are key issues in the upcoming municipal election. They add tens of thousands of dollars to the cost of every home and need to be reformed," said TRREB CEO John DiMichele.

Condo apartments remain the primary entry-level segment for homeownership across the Greater Toronto Area, representing 26.1% of all resale transactions in July 2026. While overall resale inventory pulled back across the board, condo apartments held their value better year-over-year than any other major housing category.

• GTA Condo Apartment Sales: 1,564 sales reported in July 2026.
• GTA Condo Average Price: $636,323 - down 2.3% compared to July 2025.
• 416 vs. 905 Geographic Breakdown:
• City of Toronto (416): 1,054 sales at an average selling price of $672,807 (down only 1.6% YoY).
• Surrounding Suburbs (905): 510 sales at an average selling price of $560,923 (representing a 20.0% pricing premium in favor of the 416 area).

Key Trend: Over two-thirds (67.4%) of all GTA condo apartment sales occurred within the City of Toronto during July 2026.