GTA Market Report: September 2026

By Shen Walji, Realtor, Royal LePage Real Estate Services Ltd., Brokerage.

Prepared October 20, 2026. This report summarizes Greater Toronto Area (GTA) figures published by the Toronto Regional Real Estate Board (TRREB) on October 6, 2026. GTA-wide statistics are context, not a valuation of an individual home or a substitute for neighbourhood and property-type analysis.

September 2026 GTA market: the key figures

• Home sales: 5,040, down 9.0% compared with September 2025.
• New listings: 16,500, down 14.4% year over year.
• Average selling price: $1,006,409, down 5.1% year over year.
• MLS® HPI Composite benchmark: down 4.7% year over year.

Source: TRREB’s September 2026 market release and the TRREB Market Watch report hub.

What these numbers tell us—and what they do not

September’s published figures show fewer transactions and fewer new listings than a year earlier, alongside lower average and benchmark prices. The reduction in new listings was larger than the reduction in sales in percentage terms, but that comparison alone does not establish whether active inventory is rising or falling, how many months of supply are available, or whether a particular neighbourhood is favouring buyers or sellers. Those questions require additional measures and a narrower geography.

The average selling price and the MLS® HPI benchmark are different measures. Average price can move as the mix of homes sold changes from one period to another. The HPI is designed to track the price of a benchmark home with defined characteristics and is generally less sensitive to changes in the sales mix. Read the official MLS® HPI explanation before comparing these measures as if they were interchangeable.

What GTA buyers should consider

A lower GTA average does not mean every property is discounted by the same amount. Before deciding what to offer, compare recent completed sales of a similar housing type, condition, size and location with the current homes competing for your attention. Review property condition, condo fees or other carrying costs, financing, closing expenses and any material work that may be required after closing.

Do not assume that a property is good value just because it is listed below an older benchmark or that every seller is willing to negotiate by the same amount. The relevant evidence is the actual property, its current competition and the most comparable recent transactions.

What GTA sellers should consider

The GTA average is not a recommended asking price. A pricing plan should start with the best available comparables for your property type and immediate area, then account for condition, presentation, timing and competing listings. If a home is meaningfully different from recent sales, explain the adjustments rather than relying on a broad market average.

Before committing to extensive preparation or renovation, compare the likely cost and timeline with a present-condition sale and targeted repairs. No market statistic can guarantee a particular selling price, days on market or net proceeds.

Why neighbourhood and property type matter

GTA-wide figures combine different municipalities, neighbourhoods and housing types. The decision for a detached home in one Toronto pocket can differ from the decision for a condominium apartment in another area. A useful local report should identify its reporting period, geography, property type, sample size, data definitions and limitations.

For a property-specific conversation, start with the Toronto market insights dashboard, review the available sold-data search, or request an initial home value estimate. An automated estimate and a GTA trend should both be checked against the actual property and relevant comparable sales.

Sources and limitations

• TRREB: Economic Uncertainty Kept GTA Homebuyers on the Sidelines in September — published October 6, 2026.
• TRREB Market Watch — official monthly market statistics and reports.
• TRREB MLS® Home Price Index — explanation of the benchmark-price measure.

This is a GTA aggregate market summary, not a neighbourhood price index, appraisal or Comparative Market Analysis. The statistics should be read in context with local property type, recent relevant transactions and current competition.

For help interpreting the evidence for a purchase or sale, explore my buyer representation or seller services, or contact me through my profile page.