Toronto Housing Market Outlook 2026

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Buyers Hold the Cards, but the Deck Is Shrinking: Toronto Sales Tick Up While Sellers Pull Back

According to the Toronto Regional Real Estate Board (TRREB), for March 2026, the GTA recorded its first year-over-year sales increase in six months, modest at 1.7%, but meaningful in a market that has been treading water. Perhaps more telling: new listings plunged 16.7%, snapping over a year of rising supply. Fewer sellers are entering the ring, and that shift could reshape the rest of the spring.

• The MLS HPI composite benchmark landed at $941,800, down 7.4% from last March but edging up month over month. The average selling price fell 6.7% to $1,017,796. Detached homes gained 1.3% month-over-month, while condos continued to slide, dropping 9.0% year-over-year to an average of $620,479.
• March saw 5,039 sales. But the bigger story is on the supply side: just 14,442 new listings hit the market, down 16.7%. That pulled active inventory to 21,596 (down 8.0% year-over-year) and tightened months of supply to 4.3, from 5 in February. In a market that’s felt loose for over a year, that’s a meaningful shift.
• Toronto’s condo market remains the soft spot. With 4,912 active listings against just 951 sales, the segment sits firmly in buyer territory. Pre-construction closings continue to add supply, and investor-held units face cash-flow challenges at current rents. If you’re a condo buyer, the leverage is yours, but pick your timing and your building carefully.

Toronto’s current price dip offers room to act, especially in the condo space. But with supply tightening, that window may not stay open indefinitely. Connect with nesto’s mortgage experts to explore an adjustable rate or fixed solution built around your real-life budget.

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Toronto Housing Market Highlights

• The average selling price of a home in Toronto decreased by 7.4% year-over-year to $941,800 in March.
• The average selling price of a single-family home in Toronto decreased by 7.3% year-over-year to $1,151,700 in March.
• The average selling price of a townhouse/multiplex in Toronto decreased by 8.9% year-over-year to $688,300 in March.
• The average selling price of a condo in Toronto decreased by 9.6% year-over-year to $544,200 in March.
• The average rent in Toronto is now $2,474 for March.
• April 17, 2026: Today’s lowest mortgage rate in Toronto is 4.04% for a 5–year fixed.

Data from the Toronto Regional Real Estate Board (TRREB) indicates that the average price of resale residential homes sold across Toronto in March was $941,800, and itdecreased of 7.4% compared to a year ago.

TREBB also reported a sales-to-new-listings ratio (SNLR) of 35%, indicating Buyers market conditions in Toronto for March.

Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Transactions –  Number of Sales

New Listings

Real Estate Market

The sales-to-new-listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR below 40% indicates a buyer’s market, where buyers hold the upper hand and greater negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market. 

Market Breakdown By Property Type for Toronto

Annual Changes to Composite Home Prices in Toronto

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Toronto Market Rents Snapshot

The average rent in Toronto was $2,474 for March.

The average rent for a 1-bedroom apartment in Toronto was $2,188 for the month of March, which decreased by 5.4% year over year.

The average rent for a 2-bedroom apartment in Toronto was $2,838 for the month of March, which decreased by 3.1% year over year.

Rental Price Changes by City

Rank	City	Total Average	1 Bedroom	2 Bedrooms	Year-over-Year Change
1	North Vancouver	$2,971	$2,462	$3,358	−3.3%
2	Vancouver	$2,715	$2,400	$3,355	−2.2%
3	Burnaby	$2,494	$2,115	$2,750	−9.1%
4	North York	$2,488	$2,112	$2,674	−1.3%
5	Coquitlam	$2,478	$2,116	$2,752	−6.1%
6	Etobicoke	$2,476	$2,128	$2,662	−3.4%
7	Toronto	$2,474	$2,188	$2,838	−3.1%
8	Oakville	$2,454	$2,167	$2,557	−16.9%
9	Kanata	$2,396	$2,238	$2,540	−12.7%
10	Mississauga	$2,360	$2,071	$2,453	−5.8%
11	Burlington	$2,346	$2,061	$2,434	−4.5%
12	Langley	$2,303	$1,974	$2,443	−2.2%
13	Vaughan	$2,290	$2,067	$2,592	−0.2%
14	Kingston	$2,286	$1,925	$2,430	19.6%
15	Scarborough	$2,281	$1,884	$2,378	−5.7%
16	Victoria	$2,255	$1,975	$2,584	−4.3%
17	East York	$2,245	$1,866	$2,536	−4.7%
18	Brampton	$2,239	$1,942	$2,304	1.3%
19	Halifax	$2,235	$2,026	$2,563	0.2%
20	Waterloo	$2,229	$2,066	$2,300	−6.1%
21	Guelph	$2,189	$1,924	$2,248	−8.4%
22	Hamilton	$2,170	$1,853	$2,396	14.3%
23	Ajax	$2,149	$1,909	$2,184	1.2%
24	Ottawa	$2,145	$1,955	$2,457	−4.7%
25	Barrie	$2,140	$1,936	$2,214	−1.4%
26	New Westminster	$2,137	$1,888	$2,718	−1.6%
27	Laval	$2,106	$1,715	$2,367	11.7%
28	Nanaimo	$2,105	$1,843	$2,299	5.1%
29	Surrey	$2,094	$1,818	$2,206	−8.2%
30	Kamloops	$2,078	$1,790	$2,148	1.6%
31	Greater Sudbury	$2,059	$1,886	$2,119	−10.5%
32	Kelowna	$2,056	$1,743	$2,217	−4.6%
33	Cambridge	$2,049	$1,834	$2,089	−4.4%
34	Kitchener	$1,989	$1,775	$2,134	−3.8%
35	Oshawa	$1,985	$1,719	$2,048	−3.8%
36	Brantford	$1,985	$1,794	$2,153	5.6%
37	Peterborough	$1,972	$1,725	$1,994	−1.1%
38	Airdrie	$1,958	$1,475	$1,748	−2.8%
39	Brossard	$1,948	$1,787	$2,010	−13.4%
40	Montreal	$1,938	$1,737	$2,285	2.2%
41	London	$1,911	$1,663	$2,055	−5.7%
42	Niagara Falls	$1,907	$1,690	$2,024	−2.7%
43	Calgary	$1,869	$1,532	$1,848	−4.2%
44	St. Catharines	$1,841	$1,636	$1,929	−1.0%
45	Welland	$1,792	$1,540	$1,973	8.9%
46	Gatineau	$1,732	$1,541	$1,843	−12.2%
47	Sarnia	$1,710	$1,508	$1,793	−4.1%
48	Winnipeg	$1,669	$1,445	$1,786	3.5%
49	Windsor	$1,622	$1,494	$1,784	−7.2%
50	Côte Saint-Luc	$1,605	$1,413	$1,840	−19.6%
51	Red Deer	$1,600	$1,362	$1,565	0.4%
52	Edmonton	$1,589	$1,288	$1,634	−1.3%
53	Saskatoon	$1,532	$1,347	$1,580	4.3%
54	Lethbridge	$1,483	$1,356	$1,558	−0.7%
55	Regina	$1,439	$1,285	$1,530	3.0%
56	Quebec City	$1,420	$1,290	$1,555	−11.6%
57	Medicine Hat	$1,387	$1,225	$1,406	0.8%
58	Fort McMurray	$1,362	$1,181	$1,404	0.5%
59	Lloydminster	$1,194	$1,069	$1,279	2.3%
60	St. John's	$1,143	$1,079	$1,253	5.5%

Average Rent by City
Source: Rentals.ca Network Data & Urbanation Inc.

Rental Price Changes by Province

Rental Price Growth by Housing Type

How Does Renting Compare with Homeownership in Toronto?

Each $100,000 in mortgage balance costs an average of $528.19 per month on nesto’s lowest fixed 5-year rate at 4.04% and $495.28 per month on nesto’s lowest adjustable 5-year rate at 3.40%.

For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.23. Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is 2.25%, and nesto’s prime rate is set to 4.45%.

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Frequently Asked Questions (FAQ) About Toronto Housing Market Outlook for 2026

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Why Choose nesto

At nesto, our commission-free mortgage experts, certified in multiple provinces, provide exceptional advice and service that exceeds industry standards. Our mortgage experts are salaried employees who provide impartial guidance on mortgage options tailored to your needs and are evaluated based on client satisfaction and the quality of their advice. nesto aims to transform the mortgage industry by providing honest advice and competitive rates through a 100% digital, transparent, and seamless process.

nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.

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