No dense reports. No confusing charts. Just a clear, honest answer to one question: what is the GTA housing market doing right now — and what does it mean for you?
Monthly Report
Here's what's actually happening in the GTA housing market this month — in plain language anyone can understand.
Data sourced from GTA-wide market activity including Toronto, Mississauga, Brampton, Vaughan, Oakville, Richmond Hill, Markham and surrounding areas. Updated every month.
The Greater Toronto Area housing market in September 2026 stayed in a holding pattern as economic uncertainty kept buyers on the sidelines. Home sales fell 9% from last year to 5,040 transactions — the third straight month of annual declines — while new listings dropped 14.4% to 16,500, with sellers pulling back even faster than buyers. The average selling price slipped 5.1% year-over-year to $1,006,409, climbing back above the $1 million mark even as momentum faded — on a seasonally adjusted basis, TRREB notes both sales and prices edged lower compared to August, dashing hopes of a fall-market rebound. The MLS Home Price Index composite benchmark fell 4.7% from a year ago to $917,600.
If you're buying now, uncertainty is keeping many shoppers on the sidelines — which means less competition and real negotiating room, with homes taking roughly 34 days to sell and going for around 98% of asking price. But with new listings down 14.4% from last year, fewer fresh options are arriving each month, so be ready to move when the right home appears. For sellers, realistic pricing matters more than ever: September was the third straight month of falling sales, and overpriced listings are sitting. TRREB points to substantial pent-up demand waiting for clearer signals on the economy and borrowing costs — pricing competitively today positions you ahead of the curve if buyer confidence returns.
Detached homes averaged $1,292,016 across the GTA in September 2026, down 5.1% from last year. Sales fell 8.7% to 2,399 transactions, with the 905 suburbs taking the bigger hit than the City of Toronto — a sign that even the top end of the market isn't immune to buyer caution.
Townhouses averaged $820,637 in September 2026, down 4.6% from last year. Sales slid 12.8% to 803 transactions — the biggest drop of any home type — making townhouses the softest corner of the market and the best hunting ground for bargain-seeking buyers.
Condominium apartments averaged $605,257 in September 2026, down 7.7% year-over-year — the steepest price decline of any segment — with 1,316 transactions across the GTA. Condos remained the most affordable path into the market — a $687,000 gap separates the average condo from the average detached home — giving first-time buyers the most negotiating leverage of any property type.
🏠 Buying? Take advantage of current market conditions by viewing multiple properties and negotiating confidently, as homes are selling at around 98% of asking price with roughly 34 days on market. Get pre-approved for a mortgage to understand your budget — with new listings down 14.4% from last year, be ready to move when the right home appears.
🏷️ Selling? Price your home competitively based on recent comparable sales in your neighbourhood, as the market favours realistic pricing with homes taking about 34 days to sell. Consider preparing your home with minor updates and professional staging — with only 16,500 new listings arriving in September, a standout home gets noticed.
📬 This report updates every month automatically. Bookmark this page to stay informed.
Data represents GTA-wide market activity. Statistics sourced from publicly available market data across the Greater Toronto Area. Powered by Quantos Market Intelligence.
Market Condition
Our Market Action Index answers the most important question in real estate right now — who has the advantage this month?
Market conditions tilted toward buyers in September 2026, with homes selling at around 98% of asking price and spending roughly 34 days on market. With 26,131 active listings and a sales-to-new-listings ratio of about 31% (5,040 ÷ 16,500), buyers hold a slight edge — but new listings fell 14.4% from last year, dropping faster than sales, so persistent thin supply could bring renewed price growth if buyer confidence returns.
Free Tools
Run the numbers before you make your move. All calculators are free, instant, and built for Canadian buyers.
Calculate your estimated monthly mortgage payment based on home price, down payment, and interest rate.
Find out how much home you can afford based on your annual income and monthly expenses.
Ontario charges land transfer tax on every home purchase. Toronto buyers pay it twice. Calculate your exact amount.
If your down payment is less than 20%, you'll pay CMHC mortgage insurance. Find out exactly how much.
Is it cheaper to rent or buy in the GTA right now? Run the numbers for your specific situation.
Beyond the purchase price, how much should you budget for closing costs in Ontario? Get a realistic estimate.
Current Rates
The Bank of Canada's rate decisions directly affect your mortgage payments. Here's where rates stand today.
The Bank of Canada held its overnight rate at 2.25% on September 2, 2026, with the next announcement scheduled for October 28, 2026. With inflation near the 2% target, borrowing costs are holding stable — and the posted five-year mortgage rate, at 6.09%, is well off its late-2023 peak above 7%.
First Time Buyer Guide
Never bought a home before? Here's everything you need to know about the process in plain language.
Before you start looking at homes, visit a bank or mortgage broker to get pre-approved. This tells you exactly how much you can borrow and makes your offer more competitive. Pre-approval is free and takes about 1-2 days.
In Ontario, working with a buyer's agent costs you nothing — the seller pays the commission. Under the new TRESA rules, your agent must represent your interests exclusively. Interview 2-3 agents before choosing one.
The purchase price is just the beginning. Budget for land transfer tax, legal fees (~$2,000), home inspection (~$500), title insurance (~$300), and moving costs. In Toronto, land transfer tax alone can add $20,000+ to your costs.
Your agent submits a written offer with a price, deposit (usually 5% due within 24 hours of acceptance), and conditions. Common conditions include financing and home inspection. In a buyer's market like now, conditions are more accepted.
Always get a home inspection. A licensed inspector checks the structure, roof, electrical, plumbing, and HVAC. Cost is ~$500 but can save you from buying a home with $50,000 in hidden problems. Never waive this in a buyer's market.
Usually 60-90 days after your offer is accepted. Your lawyer handles the paperwork, you pay the remaining down payment and closing costs, and you get your keys. The whole process from offer to closing typically takes about 2-3 months.
Latest News
The latest headlines from trusted Canadian real estate sources — updated automatically.
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