Toronto Housing Market Outlook 2026

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Toronto Buyers Gain Leverage in a Recalibrating Market

According to the Toronto Regional Real Estate Board, the GTA resale market experienced notable price adjustments in February 2026. This recalibration is allowing buyers to exercise more patience as the market shifts away from the intense bidding wars of previous years.

Inventory Builds as Pricing Adjusts

For the first time this decade, the GTA sale price-to-list price ratio dipped to 97%, meaning buyers are successfully negotiating 3% below asking price on average. This shift is creating a more favourable environment for those navigating their current mortgage strategy.

• The average selling price in the GTA fell to $1,008,968, representing a 7.1% year-over-year decline.
• Detached home prices rose 3.7% month-over-month to reach an average of $1,325,654.
• Condominium apartments saw a 13% annual price drop, settling at an average of $626,650.
• Average days on market climbed to 54 days, up from 43 days a year earlier.

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Toronto Housing Market Highlights

• The average selling price of a home in Toronto decreased by 7.9% year-over-year to $938,800 in February.
• The average selling price of a single-family home in Toronto decreased by 7.8% year-over-year to $1,149,300 in February.
• The average selling price of a townhouse/multiplex in Toronto decreased by 9.4% year-over-year to $685,400 in February.
• The average selling price of a condo in Toronto decreased by 24.5% year-over-year to $452,200 in February.
• The average rent in Toronto is now $2,482 for February.
• March 20, 2026: Today’s lowest mortgage rate in Toronto is 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 February was $938,800, and itdecreased of 7.9% compared to a year ago.

TREBB also reported a sales-to-new-listings ratio (SNLR) of 36%, indicating Buyers market conditions in Toronto for February.

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 $2,482 for February.

The average rent for a 1-bedroom apartment in Toronto was $2,201 for the month of February, which decreased by 6.7% year over year.

The average rent for a 2-bedroom apartment in Toronto was $2,857 for the month of February, which decreased by 6.8% year over year.

Rental Price Changes by City

Rank	CITY	Total Average	1 Bedroom	2 Bedrooms	Year-over-Year Change
1	North Vancouver	$2,969	$2,465	$3,330	−4.4%
2	Vancouver	$2,672	$2,376	$3,289	−4.5%
3	North York	$2,524	$2,119	$2,689	0.00%
4	Burnaby	$2,517	$2,099	$2,788	−6.6%
5	Coquitlam	$2,513	$2,051	$2,750	−6.3%
6	Toronto	$2,482	$2,201	$2,857	−6.8%
7	Oakville	$2,456	$2,188	$2,524	−21.3%
8	Kanata	$2,405	$2,251	$2,564	−14.3%
9	Etobicoke	$2,375	$2,092	$2,548	−8.4%
10	Mississauga	$2,373	$2,077	$2,478	−7.6%
11	Burlington	$2,356	$2,052	$2,435	−5.0%
12	Langley	$2,344	$2,069	$2,467	−1.2%
13	Scarborough	$2,294	$1,926	$2,387	−6.8%
14	Kingston	$2,287	$1,927	$2,455	23.00%
15	Brampton	$2,282	$1,986	$2,302	−2.8%
16	Victoria	$2,271	$1,998	$2,607	−3.3%
17	Halifax	$2,269	$2,023	$2,550	1.80%
18	East York	$2,267	$1,913	$2,498	−8.8%
19	Vaughan	$2,254	$2,072	$2,516	−5.6%
20	Waterloo	$2,223	$2,055	$2,329	−9.2%
21	Ajax	$2,217	$1,812	$2,251	−0.5%
22	Guelph	$2,183	$1,973	$2,241	−8.6%
23	Barrie	$2,154	$1,926	$2,172	0.20%
24	Ottawa	$2,143	$1,960	$2,489	−2.3%
25	New Westminster	$2,131	$1,887	$2,650	−5.1%
26	Hamilton	$2,115	$1,767	$2,258	8.50%
27	Laval	$2,105	$1,711	$2,343	8.70%
28	Surrey	$2,090	$1,801	$2,236	−7.4%
29	Greater Sudbury	$2,080	$1,897	$2,145	−5.8%
30	Nanaimo	$2,057	$1,812	$2,324	7.20%
31	Cambridge	$2,039	$1,802	$2,104	−6.1%
32	Kitchener	$2,019	$1,790	$2,143	−4.6%
33	Oshawa	$2,018	$1,746	$2,058	−4.8%
34	Kamloops	$2,018	$1,773	$2,180	5.50%
35	Brantford	$1,996	$1,820	$2,103	2.80%
36	Kelowna	$1,994	$1,703	$2,142	−9.9%
37	Brossard	$1,973	$1,799	$2,049	−9.0%
38	Peterborough	$1,956	$1,711	$1,995	−0.6%
39	Montreal	$1,925	$1,722	$2,257	0.10%
40	Airdrie	$1,914	$1,442	$1,702	−4.3%
41	London	$1,912	$1,647	$2,048	−6.1%
42	Niagara Falls	$1,901	$1,615	$1,936	−9.2%
43	Calgary	$1,870	$1,531	$1,844	−3.9%
44	Gatineau	$1,869	$1,639	$2,049	−8.2%
45	St. Catharines	$1,832	$1,626	$1,937	−2.7%
46	Sarnia	$1,761	$1,538	$1,836	−4.0%
47	Welland	$1,704	$1,546	$1,872	1.70%
48	Winnipeg	$1,671	$1,427	$1,800	3.20%
49	Windsor	$1,657	$1,517	$1,825	−1.5%
50	Edmonton	$1,590	$1,302	$1,639	−0.7%
51	Côte Saint-Luc	$1,567	$1,415	$1,802	−21.9%
52	Red Deer	$1,556	$1,282	$1,511	2.10%
53	Saskatoon	$1,555	$1,329	$1,555	2.10%
54	Lethbridge	$1,502	$1,361	$1,582	0.00%
55	Regina	$1,454	$1,259	$1,521	3.30%
56	Quebec City	$1,444	$1,341	$1,597	−15.2%
57	Medicine Hat	$1,364	$1,240	$1,386	−0.6%
58	Fort McMurray	$1,353	$1,165	$1,411	−0.7%
59	Lloydminster	$1,255	$1,090	$1,354	8.40%
60	St. John's	$1,163	$1,084	$1,253	−5.1%

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 $520.07 per month on nesto’s lowest fixed 5-year rate at and $495.28 per month on nesto’s lowest adjustable 5-year rate at .

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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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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