10/08/2026
🏡 TORONTO & GTA REAL ESTATE MARKET UPDATE — SEPTEMBER 2026 📊
Good news for buyers! Home prices are down, affordability has improved, and there are still plenty of properties to choose from. But there’s an interesting shift happening in the market!
Here’s a simple breakdown of the latest Toronto Regional Real Estate Board (TRREB) statistics.
📉 HOME PRICES ARE DOWN
The average GTA home sold for $1,006,409 in September.
That’s:
• ⬇️ 5.1% lower than September 2025.
• ⬆️ 1.3% higher than August 2026.
Average selling prices by property type:
🏠 Detached homes: $1,292,016 (down 5.1%)
🏘️ Semi-detached homes: $1,015,202 (down 0.2%)
🏡 Townhouses: $820,637 (down 4.6%)
🏢 Condominiums: $605,257 (down 7.7%)
All price changes are compared with September 2025.
Condo prices have experienced the largest percentage decline, potentially creating some excellent opportunities for first-time buyers and investors.
📊 FEWER HOMES ARE SELLING
A total of 5,040 properties sold across the GTA in September, down 9% compared with the same month last year.
Buyers are still being cautious, with concerns about job security, the economy and borrowing costs keeping some on the sidelines.
🏘️ HOUSING INVENTORY IS SHRINKING
Here’s where things get interesting!
• New listings: 16,500 (down 14.4% year-over-year).
• Active listings: 26,131 (down 9.3%).
• Average time on market: 34 days.
Although sales have slowed, the number of available homes is also declining.
What does this mean? If inventory continues to shrink and buyer confidence improves, we could eventually see more competition for desirable, well-priced properties.
🔑 WHAT DOES THIS MEAN FOR YOU?
BUYERS: You’re generally in a stronger negotiating position than you were a year ago. Lower prices and more negotiating opportunities could make this a good time to explore the market.
SELLERS: Pricing your property correctly is more important than ever. Buyers have options and are taking their time. Homes that are overpriced risk sitting on the market.
INVESTORS: Lower condo prices may present opportunities, but rental income, carrying costs and long-term investment potential still need to make financial sense.
💡 MY TAKE:
After more than 23 years working full-time in Toronto real estate, I’ve seen plenty of changing markets.
Right now, buyers have opportunities that simply weren’t available during the frenzy of previous years. However, the decline in new listings is something worth watching.
And remember, GTA-wide averages don’t tell the whole story. Conditions can vary dramatically between neighbourhoods, property types and even individual buildings.
📲 THINKING OF BUYING, SELLING OR INVESTING?
Whether you’re curious about your home’s current value, looking for your next property or simply wondering how these market changes affect you, I’d be happy to help!
Ben Fenlon | REALTOR®
Royal LePage Real Estate Services Ltd., Brokerage
📞 416-301-0828
📧 [email protected]
🌐 www.BenFenlon.com
Buy. Sell. Rent. Be Happy! 🏡😊
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