The Toronto Regional Real Estate Board (TRREB) has released its August housing data. Supply continued to tighten through the final month of summer, with new listings falling more sharply than sales. Home sales edged lower compared to August 2025, as buyers in many neighbourhoods had less choice. Selling prices remained below year-ago levels, but the average price posted its narrowest annual decline of 2026 and the benchmark measure improved for a second consecutive month.
A total of 5,057 home sales were reported through the MLS, down 2.1% compared to August 2025. New listings fell 14.1% year over year to 12,075, the seventh consecutive month of meaningful declines. Active listings declined to 24,482, down 11.3% from last year. Months of inventory came in at roughly 4.8, up from 4.4 in July, a move that reflects the seasonal dip in sales rather than a build in supply. Through the first eight months of the year, 42,120 homes have changed hands at an average price of $1,027,505.
The average GTA home sold for $993,410, representing a 2.7% year-over-year decline, a marked improvement from the 4.5% recorded in July, and the smallest annual decline of any month so far in 2026. The MLS Home Price Index (HPI) Composite Benchmark was down 4.5% across the GTA (-3.7% in Toronto). Listings sold in an average of 35 days on market, up 6.1% from a year ago, with final sale prices coming in at 97% of the asking price.
Sales by Property Type
Detached: $1,288,669 (↓ 1.8% year over year / ↓ 0.2% month over month)
Semi-detached: $931,665 (↓ 5.0% YoY / ↓ 3.4% MoM)
Townhomes: $786,817 (↓ 8.6% YoY / ↓ 3.7% MoM)
Condominiums: $617,593 (↓ 3.6% YoY / ↓ 2.9% MoM)
Detached homes accounted for the largest share of August sales (47.4%), followed by condominiums (26.3%), townhomes (16.5%), and semi-detached properties (8.7%). Detached and semi-detached homes both posted small year-over-year gains in sales volume, while townhome and condominium transactions slipped. Detached homes now carry the smallest annual price decline of any segment at 1.8%, with an average price essentially unchanged from July.
August marks the seventh straight month of declines in new listings. If inventory continues to tighten, some buyers may face a trade-off between waiting for greater economic certainty and purchasing before prices move higher. At the same time, improving conditions for sellers could bring more listings to market. The Bank of Canada held its overnight rate at 2.25% on September 2, its seventh consecutive hold, keeping borrowing costs well below last year’s levels. Recent news on the economy and job creation has been positive, though the main hold-back remains concern around trade with the United States and the potential for higher inflation and borrowing costs. If current trends continue, less choice and more competition between buyers could result in renewed price growth in the coming months.
If you are planning to buy or sell this fall, recognizing how these conditions play out at the neighbourhood level is essential. As the market continues to evolve, a thoughtful strategy and clear understanding of the relevant housing data will help to ensure a successful outcome. A Harvey Kalles Real Estate sales representative can help you navigate these conditions with clarity, experience, and a strategy tailored to your goals.