10/07/2026
September GTA Market Update
The GTA housing market remained cautious in September as buyers continued to weigh economic uncertainty, inflation and borrowing costs. Sales were lower than last year, but new listings also declined, meaning inventory growth has started to slow.
Home prices also continued to soften, giving buyers improved affordability compared with last year. There is still plenty of pent-up demand, but many buyers appear to be waiting for greater confidence around employment and borrowing costs before making a move.
Key September numbers:
5,040 home sales — down 9% year-over-year
16,500 new listings — down 14.4%
Average selling price: $1,006,409 — down 5.1%
MLS® HPI benchmark price — down 4.7%
Sales and new listings both declined from August
Buyers remain cautious, but pent-up demand continues to build
Bottom line:
The market continues to favour buyers in many areas, with softer prices and improved affordability. However, confidence around the economy, employment and borrowing costs will likely determine when more buyers decide to jump back into the market.
