08/31/2026
𝐓𝐨𝐫𝐨𝐧𝐭𝐨 𝐑𝐞𝐚𝐥 𝐄𝐬𝐭𝐚𝐭𝐞 | 𝐅𝐞𝐰𝐞𝐫 𝐋𝐢𝐬𝐭𝐢𝐧𝐠𝐬 𝐂𝐨𝐮𝐥𝐝 𝐂𝐡𝐚𝐧𝐠𝐞 𝐭𝐡𝐞 𝐅𝐚𝐥𝐥 𝐌𝐚𝐫𝐤𝐞𝐭
July gave us a few signs that the Toronto and GTA real estate market may be starting to shift. There were just under 6,000 sales across the GTA, basically unchanged from last July, but new listings dropped almost 18% year-over-year and inventory also came down. The average GTA selling price was just over $1 million, about 4.5% lower than last year. Buyers still have negotiating power, but with fewer new listings coming onto the market, that advantage may not last forever.
One of the most interesting July numbers: about 78% of Toronto-area homes sold below their final asking price, with the median sale roughly $23,000 below list. But “below asking” doesn’t necessarily mean a bad market, it may simply mean we are returning to a more normal negotiating environment. And the market is extremely local right now.
Going into the Fall, inventory is the number I am watching most closely. Buyers still have good selection, time to compare properties and room to negotiate, while sellers need to be very realistic about pricing and presentation. If listings continue falling while sales remain steady or start increasing, we could see today's buyer advantage gradually shrink. So when someone asks “How’s the market today?” my answer is still the same: which neighbourhood, what type of property and at what price? Real estate right now can change dramatically from one area, sometimes even one street, to the next.
Want to know what's happening in your neighbourhood? Grab your free market report: https://tinyurl.com/July2026Stats
𝐅𝐔𝐀𝐃 𝐀𝐁𝐀𝐒𝐎𝐕 | Real Estate Broker, ABR, SRS, RENE, E-PRO
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https://youtu.be/x9pxvlvA89I
