10/07/2026
September saw Toronto and the GTA pull back from the market as economic uncertainty took centre stage.
Home sales dropped 9% year-over-year across the GTA, while new listings declined even more significantly at 14.4%. Both metrics softened month-over-month as well, signalling a market where caution has trumped momentum. Prices continued their downward trend, with the average selling price declining 5.1% year over year to just over $1 million.
The driver? Buyers are hesitant. Employment concerns and worries about inflation and borrowing costs are keeping many households on the sidelines, despite a genuine appetite to purchase. They are waiting for clarity before committing to such a significant decision.
Here is what this means for you:
For buyers, the uncertainty creates opportunity. The market is more affordable than it was a year ago, and less competition means more negotiating power. But clarity on your employment and financial situation matters now more than ever. Use this time to strengthen your position so you can move when conditions align.
For sellers, a pullback market requires strategy. Pricing competitively, ensuring your home is in top condition, and being flexible on terms becomes critical. Those who get these fundamentals right will stand out.
The path forward depends on policy decisions at the municipal level and broader economic stability. For now, this is a market that rewards preparation and patience.
Reach out to discuss what this means for your situation.
