09/10/2026
Toronto Edges Toward a Balanced Market
We’re seeing Toronto inch closer to a balanced real estate market this early Q3. Sales are down about 1% year-over-year at roughly 6,000 transactions, with new listings dropping nearly 18% to 14,500. That narrowing gap between supply and demand is something I’ve watched develop, both as a renovator and since I started working in real estate back in 2017. The average selling price is hovering around $1 million, about 5% lower than this time last year. What does this mean on the ground? Homes are selling closer to asking price, and it’s feeling more like a fair negotiation for both buyers and sellers. The freehold market appears steadier, while condos are still offering more leverage to buyers. Borrowers have adjusted to the current rates, and I’m noticing sellers getting more realistic with their pricing. As listings tighten and prices level out, these steadier conditions might give hesitant buyers the confidence to step in—especially for those who want to focus more on their needs than trying to time the market just right.