09/05/2026
Toronto real estate is getting harder to use as an argument for buying a house… but let’s give it a shot.
Over 5,000 homes sold last month, the WORST month for Toronto home sales in roughly 20 years.
And yet, the market isn’t necessarily becoming more buyer-friendly.
🏠 ~12,000 new listings
🏘️ ~25,000 homes currently for sale
💰 $925K benchmark price
📉 Prices down ~4.5% YoY
📉 Sales below last year
The reason? New listings are falling faster than sales, so inventory isn’t piling up as quickly as you might expect.
In fact, Toronto’s market balance metrics are showing a market that’s slightly MORE seller-friendly than it was a year ago, with the sales-to-new-listings ratio tightening for four straight months.
And prices?
I predicted earlier this year that Toronto’s benchmark price could fall below $900K. At $925K, that’s looking increasingly possible.
The good news for sellers: the pace of price declines is slowing. Toronto started the year around 8% down year-over-year. Now it’s closer to 4.5%.
Toronto isn’t exactly a buyer’s paradise… but the story is getting a lot more complicated. 👀