Toronto Housing Market Outlook 2026
Toronto Sales Jump as Prices Keep Falling
According to the Toronto Regional Real Estate Board (TRREB), for June 2026, home sales rose 9.4% year over year to 6,770 units, up 1.4% from May on a seasonally adjusted basis, even as the average price fell 3.9% to $1,058,658.
- The MLS Home Price Index composite fell 5.4% year over year, while the average sale price dropped 3.9% to $1,058,658.
- New listings fell 12.9% year over year to 17,282, and active listings dropped 13.5% to 27,329, tightening the supply picture even as sales climbed.
- TRREB describes June as part of a year of two halves, with the board expecting renewed price growth to take hold in the second half of 2026.
RBC’s Robert Hogue notes the GTA’s benchmark price rose month over month for the first time in over a year, even though transactions still sit about 34% below pre-pandemic levels; the bank’s affordability measure improved to 65.2% of income, though single-detached ownership costs remain above 80%. Royal LePage still expects Toronto prices to fall 2% in the fourth quarter, the one major market it flags for further declines, while Rentals.ca reported June asking rent at $2,537, up 1.2% month over month for a third straight rise, even as it sits 1.9% below a year ago.
Whether you’re looking for more negotiating room or planning a renewal, contact nesto mortgage experts to compare current mortgage rates in Toronto.
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Toronto Housing Market Highlights
- The average selling price of a home in Toronto decreased by 5.4% year-over-year to $940,800 in June.
- The average selling price of a single-family home in Toronto decreased by 5.5% year-over-year to $1,149,900 in June.
- The average selling price of a townhouse/multiplex in Toronto decreased by 7.4% year-over-year to $680,100 in June.
- The average selling price of a condo in Toronto decreased by 8.2% year-over-year to $537,300 in June.
- The average rent in Toronto is now $2,543 for June.
- July 23, 2026: Today’s lowest mortgage rate in Toronto is 4.09% 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 June was $940,800, and itdecreased of 5.4% compared to a year ago.
TREBB also reported a sales-to-new-listings ratio (SNLR) of 39%, indicating Buyers market conditions in Toronto for June.
Composite Home Prices
The average selling price of a home in Toronto was $940,800 for the month of June, that’s decreased by 0.6% month over month. On a year-over-year basis, Toronto home prices have decreased 5.4% year-over-year.
Single-family Home Prices
The average selling price of a single-family home in Toronto was $1,149,900 for the month of June, that’s decreased by 0.7% month over month. On a year-over-year basis, single-family home prices in Toronto have decreased by 5.5% year-over-year.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Toronto was $680,100 for the month of June, that’s decreased by 1% month over month. On a year-over-year basis, the price of a townhouse in Toronto has decreased by 7.4% year-over-year.
Condo Prices
The average selling price of a condo in Toronto was $537,300 for the month of June, that’s decreased by 0.4% month over month. On a year-over-year basis, the price of a condo in Toronto has decreased 8.2% year-over-year.
Transactions – Number of Sales
The number of sales in Toronto was 6,770 during June, that’s increased by 2.8% month over month. On a year-over-year basis, sales in Toronto have increased by 8.4% year-over-year.
New Listings
The number of new listings in Toronto was 17,282 during June, that’s decreased by 2.4% month over month. On a year-over-year basis, new listings in Toronto have decreased by 12.9% year-over-year.
Real Estate Market
The sales-to-new-listings ratio (SNLR) in Toronto was 39% during June, indicating a Buyers. On a monthly basis, that’s increased by 5.3% month over month. Toronto’s year-over-year sales-to-new listings ratio has increased by 24.5% year-over-year.
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 $2,543 for June.
The average rent for a 1-bedroom apartment in Toronto was $2,213 for the month of June, which decreased by 1.9% year over year.
The average rent for a 2-bedroom apartment in Toronto was $2,912 for the month of June, which decreased by 1.9% year over year.
Rental Price Changes by City
| Rank | City | Total Average | 1 Bedroom | 2 Bedrooms |
|---|---|---|---|---|
| 1 | North Vancouver | $2,983 | $2,457 | $3,363 |
| 2 | Vancouver | $2,723 | $2,392 | $3,336 |
| 3 | North York | $2,563 | $2,154 | $2,765 |
| 4 | Kanata | $2,551 | $2,282 | $2,766 |
| 5 | Toronto | $2,543 | $2,213 | $2,912 |
| 6 | Burnaby | $2,522 | $2,135 | $2,766 |
| 7 | Coquitlam | $2,504 | $2,083 | $2,687 |
| 8 | Oakville | $2,438 | $2,170 | $2,657 |
| 9 | Etobicoke | $2,427 | $2,084 | $2,629 |
| 10 | Burlington | $2,381 | $2,064 | $2,470 |
| 11 | Mississauga | $2,360 | $2,056 | $2,437 |
| 12 | Halifax | $2,351 | $2,051 | $2,628 |
| 13 | Langley | $2,285 | $1,965 | $2,439 |
| 14 | Vaughan | $2,277 | $2,028 | $2,586 |
| 15 | Victoria | $2,258 | $1,999 | $2,642 |
| 16 | Brampton | $2,231 | $1,962 | $2,355 |
| 17 | Ajax | $2,217 | $1,834 | $2,262 |
| 18 | Scarborough | $2,210 | $1,862 | $2,292 |
| 19 | Guelph | $2,193 | $1,901 | $2,276 |
| 20 | Surrey | $2,187 | $1,803 | $2,239 |
| 21 | Ottawa | $2,179 | $1,956 | $2,462 |
| 22 | Barrie | $2,144 | $1,874 | $2,164 |
| 23 | New Westminster | $2,132 | $1,888 | $2,640 |
| 24 | Waterloo | $2,115 | $1,918 | $2,253 |
| 25 | Kingston | $2,111 | $1,875 | $2,232 |
| 26 | Kelowna | $2,110 | $1,831 | $2,241 |
| 27 | Nanaimo | $2,102 | $1,847 | $2,313 |
| 28 | Laval | $2,089 | $1,726 | $2,350 |
| 29 | East York | $2,077 | $1,829 | $2,335 |
| 30 | Cambridge | $2,075 | $1,836 | $2,141 |
| 31 | Airdrie | $2,027 | $1,477 | $1,814 |
| 32 | Peterborough | $2,000 | $1,755 | $1,968 |
| 33 | Brossard | $1,987 | $1,708 | $2,246 |
| 34 | Greater Sudbury | $1,980 | $1,702 | $2,140 |
| 35 | Oshawa | $1,966 | $1,740 | $2,015 |
| 36 | Montreal | $1,951 | $1,780 | $2,257 |
| 37 | Kamloops | $1,949 | $1,796 | $2,034 |
| 38 | Hamilton | $1,939 | $1,680 | $2,255 |
| 39 | London | $1,932 | $1,664 | $2,068 |
| 40 | Brantford | $1,923 | $1,779 | $2,029 |
| 41 | Calgary | $1,886 | $1,515 | $1,853 |
| 42 | Kitchener | $1,865 | $1,662 | $2,048 |
| 43 | Niagara Falls | $1,861 | $1,607 | $1,976 |
| 44 | St. Catharines | $1,827 | $1,570 | $1,904 |
| 45 | Gatineau | $1,781 | $1,593 | $1,888 |
| 46 | Welland | $1,762 | $1,533 | $1,937 |
| 47 | Côte Saint-Luc | $1,705 | $1,450 | $1,971 |
| 48 | Windsor | $1,702 | $1,488 | $1,921 |
| 49 | Winnipeg | $1,678 | $1,472 | $1,770 |
| 50 | Sarnia | $1,664 | $1,477 | $1,709 |
| 51 | Edmonton | $1,610 | $1,292 | $1,632 |
| 52 | Saskatoon | $1,544 | $1,341 | $1,561 |
| 53 | Lethbridge | $1,534 | $1,321 | $1,543 |
| 54 | Quebec City | $1,508 | $1,292 | $1,675 |
| 55 | Red Deer | $1,508 | $1,337 | $1,499 |
| 56 | Regina | $1,457 | $1,309 | $1,523 |
| 57 | Fort McMurray | $1,413 | $1,212 | $1,443 |
| 58 | Medicine Hat | $1,370 | $1,238 | $1,374 |
| 59 | Lloydminster | $1,306 | $1,026 | $1,378 |
| 60 | St. John's | $1,172 | $1,061 | $1,268 |
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 $530.91 per month on nesto’s lowest fixed 5-year rate at 4.09% 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 $13.42. 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
Why are Toronto home prices expected to decline in 2026?
Toronto home prices are expected to decline in 2026 due to elevated inventory levels, softer condominium demand, and ongoing affordability constraints.
Is Toronto becoming more affordable for buyers?
Toronto’s affordability has improved slightly due to ongoing price declines, but income requirements remain among the highest in Canada.
Which housing segment is under the most pressure in Toronto?
The condominium segment in Toronto is facing the greatest price pressure, particularly on investor-owned units, due to rising carrying costs.
Do buyers have more negotiating power in Toronto in 2026?
In 2026, homebuyers in Toronto are gaining more negotiating power as homes stay listed longer and sellers become more flexible on pricing.
What could stabilize Toronto’s housing market later in 2026?
Toronto’s housing market could stabilize if pent-up demand translates into sustained sales activity, as interest rates moderate in 2026.
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