The Greater Toronto Area (GTA) real estate market continued to stiffen in August, with far fewer homes available for sale than at the same time last year. Sales also edged lower year over year, but the decline in New Listings was much greater, reducing new inventory entering the market and limiting buyers’ choice in some neighbourhoods.
While prices remained below August 2025 levels, with the average selling price down 2.7 percent since the same month last year, the year-over-year decline is narrowing.
Here are the detailed statistics from August:
GTA
Average Sales Price
July 2026 to August 2026: $1,003,956 to $993,410 (-1.1%).
August 2025 to August 2026: $1,021,300 to $993,410 (-2.7%).
The Average GTA Sales Price declined by 1.1 percent from July to August 2026, continuing the typical late-summer softening in prices. It’s also the first time since January that the Average Sales Price fell below one million dollars. Compared to August 2025, prices were down 2.7 percent, although the shrinking year-over-year decline suggests that values may be beginning to stabilize.
Total Sales
July 2026 to August 2026: 5,995 to 5,057 (-15.6%).
August 2025 to August 2026: 5,168 to 5,057 (-2.1%).
GTA home sales fell by a substantial 15.6 percent from July to August 2026, the largest month-to-month drop for that particular period since 2015. Compared to August 2025, sales were down just 2.1 percent, while the much larger decline in New Listings suggests limited inventory may also be restricting transactions.
New Listings
July 2026 to August 2026: 14,484 to 12,075 (-16.6%).
August 2025 to August 2026: 14,052 to 12,075 (-14.1%).
Active Listings
July 2026 to August 2026: 26,098 to 24,482 (-6.2%).
August 2025 to August 2026: 27,594 to 24,482 (-11.3%).
New Listings, as usually occurs from July to August, declined in the GTA, this time by 16.6 percent; they were also 14.1 percent lower than August 2025. This continues the trend of fewer properties coming to market during the last full month of summer. Active Listings also fell 6.2 percent month over month and 11.3 percent year over year, giving buyers less overall choice as the fall market approaches.
Toronto
Average Sales Price
July 2026 to August 2026: $1,010,836 to $979,684 (-3.1%).
August 2025 to August 2026: $992,085 to $979,684 (-1.3%).
Average selling prices in the City of Toronto declined by 3.1 percent from July to August 2026, reflecting the quieter late-summer market. Compared to August 2025, prices were down a more modest 1.3 percent, indicating that year-over-year price declines have continued to narrow.
Total Sales
July 2026 to August 2026: 2,242 to 1,767 (-21.2%).
August 2025 to August 2026: 1,779 to 1,767 (-0.7%).
Total Sales in the City of Toronto declined by 21.2 percent from July to August 2026, a significant month-over-month decrease, even for the end-of-summer market. Year over year, however, sales were down just 0.7 percent, suggesting overall buyer activity remained relatively consistent with August 2025.
New Listings
July 2026 to August 2026: 4,980 to 4,200 (-15.7%).
August 2025 to August 2026: 4,538 to 4,200 (-7.4%).
Active Listings
July 2026 to August 2026: 9,310 to 8,727 (-6.3%).
August 2025 to August 2026: 9,644 to 8,727 (-9.5%).
New Listings in the City of Toronto declined by 15.7 percent from July to August 2026 and were 7.4 percent lower than August 2025. Active Listings also fell 6.3 percent month over month and 9.5 percent year over year, continuing the trend toward less available inventory heading into the fall market.
SNLR – Sales to New Listings Ratio (July to August) – The number of Total Sales that occur (supply coming off the market) to New Listings coming on (supply coming onto the market).
GTA: 37.1% to 37.5%
City of Toronto: 38.1% to 38.3%
= Buyer’s Territory
40-60% indicates a balanced market, and under 40% is buyer’s market territory. We’ve been in this range in the GTA since August 2023. Overall, buyers currently have more leverage and opportunities than sellers.
Outlook
The GTA market is entering the fall with considerably less inventory than a year ago, while Sales remain relatively close to August 2025 levels. Buyers still have negotiating opportunities in many segments, but reduced choice could lead to increased competition for well-priced properties if inventory continues to tighten. For sellers, a more balanced market may create a more favourable environment this fall, although pricing appropriately will remain important.
It will be interesting to note how many New Listings come on the market in September, and whether a fall rush is triggered by an increase in inventory, or if the SNLR continues to rise.
Thinking of moving to the next stage? Let’s chat. Send me an email (hillary@hillarylane.ca) or text/phone (416-882-4707).
