Market Insights | September 2026
September saw Toronto’s housing market take a more measured pace, with sales and new listings adjusting from a year ago as buyers and sellers continued to navigate the evolving economic landscape.
September saw Toronto’s housing market take a more measured pace, with 5,040 homes sold across the GTA, down 9% from a year earlier. New listings also declined 14.4% to 16,500, as buyers and sellers continued to assess economic conditions, inflation and borrowing costs. At the same time, TRREB notes that substantial pent-up demand remains among households planning to purchase in the months ahead.
The average selling price in September was $1,006,409, down 5.1% from September 2025, while the MLS® Home Price Index Composite benchmark was down 4.7%. Both measures edged lower compared with August on a seasonally adjusted basis, continuing to give buyers more favourable pricing conditions in many segments of the market.
Looking ahead, market activity will likely continue to depend on economic confidence, employment conditions and the outlook for borrowing costs. TRREB points to substantial pent-up demand, with many households intending to purchase when they feel more confident about the broader economy. If confidence strengthens and borrowing costs remain manageable, this could bring more buyers off the sidelines in the months ahead.
