07/08/2026
With the heat of the World Cup in town, there have been encouraging signs in the Greater Toronto Area housing market as we head into July.
After a slower start to the year, the market gained momentum in June. Home sales were up 9.4% compared to June of last year, while the number of new listings declined by 12.9%. Fewer homes coming to market combined with stronger buyer activity is creating a more balanced market and increasing competition for well-priced properties.
So far this year, home sales have edged higher than they were during the first half of 2025, while inventory remains significantly lower. This shift is helping to reduce the supply of available homes and could lead to firmer prices as we move through the second half of the year.
The average GTA home sold for $1,058,658 in June. While that's still 3.9% lower than a year ago, the pace of price declines has continued to slow. On a month-to-month basis average prices saw modest gains, another positive sign that the market is stabilizing.
Jason Mercer, Chief Information Officer of The Toronto Regional Real Estate Board (TRREB) expects buyer activity to continue strengthening throughout the remainder of 2026 as confidence returns and pent-up demand is released. If this trend continues, he feels home prices could level off and begin to rise again before year-end.
Affordability remains an important issue across the GTA. Industry leaders continue to advocate for reducing development charges, which can account for up to 20% of the cost of a new home. Lowering these costs could improve affordability for new home buyers over time.
If you've been wondering whether now is the right time to buy or sell, this changing market presents new opportunities. Every neighbourhood is different, and I'd be happy to discuss what's happening in your area and what it could mean for your real estate plans.