Listings Dry Up Faster Than Sales Across the GTA

According to the Toronto Regional Real Estate Board (TRREB) for August 2026, Toronto-area realtors reported 5,057 sales, down just 2.1% from August 2025. New listings told a very different story, falling 14.1% to 12,075. Supply is contracting roughly seven times as fast as demand, which is the single most important takeaway from this month’s data.

• The composite benchmark was down 4.5% year over year and essentially flat against July on a seasonally adjusted basis. The average selling price was $993,410, down 2.7%, marking the second time in 2026 that the GTA average has dipped below $1 million.
• Active listings fell 11.3% year over year to 24,482, and the sales-to-new-listings ratio sat at 41.9%. That keeps the GTA in balanced territory, though only just, and it’s meaningfully different from a year ago.
• Condo apartments remain the weakest segment, with prices down 7.1% YoY to $531,200. Townhouses fell 6.2% to $666,500 and single-family homes fell 4.7% to $1,128,600.

TRREB President Daniel Steinfeld framed the coming months as a trade-off for buyers between waiting for economic certainty and buying before prices rise. That is the right way to read it: today’s price discount is real, but the inventory that made it negotiable is thinning.

If you are shopping in the GTA this fall, the window where soft prices meet ample choice is closing. Compare mortgage rates in Toronto and speak with our nesto mortgage experts about locking a rate before the fall listings cycle turns.

Toronto Housing Market Highlights

• The average selling price of a home in Toronto decreased by 4.46% year-over-year to $925,900 in August 2026.
• The average selling price of a single-family home in Toronto decreased by 4.73% year-over-year to $1,128,600 in August 2026.
• The average selling price of a townhouse/multiplex in Toronto decreased by 6.18% year-over-year to $666,500 in August 2026.
• The average selling price of a condo in Toronto decreased by 7.07% year-over-year to $531,200 in August 2026.
• October 9, 2026: Today’s lowest mortgage rate in Toronto is 4.59% 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 August 2026 was $925,900, and it decreased by 4.46% compared to a year ago.

TRREB also reported a sales-to-new-listings ratio (SNLR) of 41.9%, indicating balanced market conditions in Toronto for August 2026.

Toronto	Composite Price August 2026	Composite Price July 2026	YoY Change (%)	MoM Change (%)
Single Family Home	$1,128,600	$1,141,000	decreased by 4.73%	decreased by 1.09%
Townhouse/Multiplex	$666,500	$673,200	decreased by 6.18%	decreased by 1.00%
Condo / Apartments	$531,200	$535,200	decreased by 7.07%	decreased by 0.75%
Composite	$925,900	$934,600	decreased by 4.46%	decreased by 0.93%

Toronto Home Price Changes Over The Last Decade

Composite Home Prices

Single-Family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Toronto Housing Market Conditions

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Toronto Market Rents Snapshot

The average rent in Toronto was $2,571 in August 2026 and has decreased by 1.80% year over year.

The average rent for a 1-bedroom apartment in Toronto was $2,221 for August 2026 and has decreased by 3.01% year over year.

The average rent for a 2-bedroom apartment in Toronto was $2,939 for August 2026 and has increased by 0.65% year over year.

Average Rents for Cities Across Canada

Rank	City	Total Avg	1 Bed	2 Bed
1	North Vancouver	$3,036	$2,501	$3,434
2	Vancouver	$2,729	$2,350	$3,248
3	Oakville	$2,695	$2,316	$3,021
4	Toronto	$2,571	$2,221	$2,939
5	Kanata	$2,524	$2,251	$2,754
6	Burnaby	$2,520	$2,119	$2,724
7	North York	$2,519	$2,085	$2,690
8	Coquitlam	$2,510	$2,087	$2,709
9	Etobicoke	$2,441	$2,081	$2,653
10	Vaughan	$2,422	$2,110	$2,516
11	Burlington	$2,386	$2,068	$2,425
12	Halifax	$2,365	$1,999	$2,591
13	Mississauga	$2,346	$2,042	$2,443
14	Barrie	$2,332	$2,103	$2,472
15	Langley	$2,266	$1,911	$2,480
16	Brampton	$2,259	$1,971	$2,351
17	Victoria	$2,255	$1,994	$2,649
18	Guelph	$2,224	$1,927	$2,276
19	New Westminster	$2,203	$1,901	$2,655
20	Kingston	$2,200	$1,933	$2,353
21	Ottawa	$2,200	$1,958	$2,470
22	Scarborough	$2,187	$1,835	$2,319
23	Surrey	$2,185	$1,796	$2,250
24	Ajax	$2,182	$1,890	$2,241
25	Waterloo	$2,169	$1,922	$2,337
26	Laval	$2,130	$1,726	$2,352
27	Nanaimo	$2,078	$1,844	$2,251
28	Kelowna	$2,073	$1,823	$2,248
29	East York	$2,056	$1,792	$2,379
30	Brossard	$2,044	$1,767	$2,139
31	Cambridge	$2,027	$1,834	$2,174
32	Oshawa	$2,023	$1,740	$2,019
33	Niagara Falls	$1,978	$1,659	$1,958
34	Airdrie	$1,966	$1,429	$1,774
35	Greater Sudbury	$1,959	$1,720	$2,101
36	Kamloops	$1,957	$1,750	$2,026
37	Montreal	$1,957	$1,742	$2,259
38	Kitchener	$1,938	$1,691	$2,084
39	Hamilton	$1,921	$1,653	$2,135
40	London	$1,913	$1,651	$2,030
41	Brantford	$1,911	$1,787	$2,025
42	Peterborough	$1,892	$1,680	$1,918
43	Calgary	$1,885	$1,508	$1,845
44	St. Catharines	$1,810	$1,530	$1,921
45	Gatineau	$1,776	$1,607	$1,857
46	Welland	$1,754	$1,505	$1,978
47	Côte Saint-Luc	$1,710	$1,405	$1,966
48	Windsor	$1,670	$1,475	$1,906
49	Winnipeg	$1,646	$1,426	$1,754
50	Edmonton	$1,631	$1,275	$1,646
51	Sarnia	$1,607	$1,438	$1,674
52	Quebec City	$1,586	$1,299	$1,677
53	Red Deer	$1,573	$1,345	$1,515
54	Lethbridge	$1,545	$1,334	$1,572
55	Saskatoon	$1,517	$1,295	$1,531
56	Regina	$1,468	$1,291	$1,536
57	Fort McMurray	$1,378	$1,163	$1,382
58	Medicine Hat	$1,371	$1,228	$1,381
59	Lloydminster	$1,330	$1,056	$1,412
60	St. John's	$1,293	$1,136	$1,453

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

Average Rent by Province

LOCATION	Total	1B	2B
AB	$1,776	$1,405	$1,747
BC	$2,387	$2,048	$2,634
MB	$1,643	$1,419	$1,742
ON	$2,256	$1,968	$2,437
QC	$1,931	$1,690	$2,149
SK	$1,461	$1,265	$1,502
Atlantic Canada	$2,274	$1,909	$2,434
Canada	$2,035	$1,753	$2,146

Average Rent by Property Type Across Canada

TYPE	Total	1B	2B
All	$2,035	$1,753	$2,146
Apartment	$2,038	$1,799	$2,232
Condominium	$2,050	$1,827	$2,170
House/Townhouse	$2,014	$1,305	$1,733

How Does Renting Compare With Homeownership in Toronto?

Each $100,000 in mortgage balance costs an average of $564 per month on nesto’s lowest fixed 5-year rate at 4.59%, and $503 per month on nesto’s lowest adjustable 5-year rate at 3.41%.

On the variable side, a 0.25% change in the Bank of Canada’s policy rate moves that payment by roughly $13.47 per $100,000 if rates rise, or $13.27 if they fall. Fixed payments aren’t affected the same way mid-term—a fixed rate is locked for the term and tracks bond yields, not the policy rate directly, so this sensitivity applies only to the variable side.

The interest rates used for the calculation are those offered on insured purchases with less than a 20% down payment, on a 25-year amortization, as of October 9, 2026 and are subject to change. Canada’s policy rate is 2.25%, and nesto’s prime rate is 4.45%.

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Frequently Asked Questions (FAQ) About the Toronto Housing Market in 2026

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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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