08/07/2026
With the heat of the summer months the Greater Toronto Area housing market became more competitive in July compared to the same time last year. While home sales were only slightly lower, the number of new homes coming onto the market dropped significantly. With fewer homes available, buyers faced more competition, which could help stabilize home prices if this trend continues through the second half of the year.
There are also encouraging signs for the market. Although concerns about the economy and borrowing costs remain, recent reports on economic growth and employment have been stronger than expected. According to TRREB Chief Information Officer Jason Mercer, improving economic conditions could boost consumer confidence and lead to more home purchases in the coming months, particularly if prices remain stable heading into the fall.
In July the Toronto Regional Real Estate Board reported 5,995 home sales through the MLS System, a modest 0.9% decrease from July 2025. New listings that came to market this July totalled 14,484, down 17.8% year over year, giving buyers fewer properties to choose from.
Compared to June, July sales increased while new listings declined, continuing the trend toward a more balanced and competitive market.
The average selling price in July was $1,003,956, down 4.5% from a year ago. However, month-over-month basis, the MLS Home Price Index (HPI) showed a slight increase, suggesting home values may be beginning to stabilize despite the year-over-year decline in average prices.
Resale condominium sales remained flat compared to last year with 1564 sales and prices down a modest 2.3%.
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