A Balanced Start to the Year — with Opportunities Ahead

The Greater Toronto Area housing market began 2026 at a calmer pace, setting the stage for a more balanced year. January saw fewer sales and slightly lower prices, but also more listings —

meaning more choice and less competition for buyers.

GTA Market Snapshot

Average Sale Price: $973,289 ⬇️ 6.5% year-over-year

Number of Sales: 3,082 ⬇️ 19.3% year-over-year

Active Listings: 17,975 ⬆️ 8.1% year-over-year

Average Days on Market: 45 days (from 37 last January)

Takeaway: The fast-paced bidding wars of past years continue to ease, giving both buyers and sellers a chance to regroup and plan strategically.

Average Prices by GTAT Home Type

Home Type Average Price Change (YoY)

Detached: $1,277,915 (↓ 7.9%)

Semi-Detached: $945,967 (↓ 9.7%)

Townhouse: $819,543 (↓ 10.0%)

Condo: $604,759 (↓ 9.8%)

Detached homes remain the most active segment by volume, while condos continue to be a popular entry point for first-time buyers and downsizers.

Regional Highlights

Type Toronto (416) 905 Area

Detached $1,541,791 $1,205,859

Condo $631,932 $551,166

Buyers searching beyond Toronto’s core continue to find greater value and larger homes in the surrounding 905 regions.

What’s Influencing This Market

More Listings: Up 8.1% year-over-year, offering more choice.

Steady Rates: The Bank of Canada’s key rate remains at 2.25%, supporting stable affordability.

Economic Stability: Strong employment levels continue to support housing demand.

➡️ The market is moving away from urgency toward balance and price discovery.

What This Means for You

If You’re Buying:

✅ More selection and less pressure, and you can take the time to explore.

✅ Prices have adjusted, especially for townhomes and condos.

✅ Stable mortgage rates make this a smart window before the spring market.

If You’re Selling:

⚠️ Expect a slightly longer selling period.

✅Pricing and presentation are key to standing out.

✅Detached and semi-detached homes remain top performers, though buyers are negotiating more.

If You’re Renting:

✅Ownership price adjustments could ease rent growth.

⏳ This shift opens up opportunities for renters considering their first purchase.

The Outlook for 2026

Experts see 2026 as a calibration year — a period of healthy rebalancing rather than a downturn.

✅ Early signs point to renewed activity in spring as confidence returns.

✅ Condos and new builds will continue shaping affordability across the region

✅ Buyers hold more power for now, but a steady economy supports long-term stability.

✨ In short: 2026 is about balance, not decline — and opportunity for those ready to make their next move.