The September market report is out!
The GTA housing market remained relatively quiet in September, as many buyers continued to take a wait-and-see approach. Concerns about the economy, inflation, job security and future borrowing costs are making some households hesitant to make a major purchase.
There were 5,040 homes sold across the GTA in September, down 9% from September 2025. At the same time, 16,500 new properties came onto the market, a decrease of 14.4% from a year ago. Both sales and new listings also declined compared with August.
For buyers, the good news is that prices remain below last year's levels. The GTA's average selling price in September was $1,006,409, down 5.1% from September 2025.
In simple terms, buyers have more affordability than they did a year ago, but many are still waiting for greater confidence in the economy before making a move.
The GTA condo market continues to be one of the more challenging segments of the market. Prices remain below last year's levels, and buyers continue to have plenty of choice. TRREB's latest condo-market data showed the average GTA condominium apartment price at $634,972 in the second quarter of 2026, down 7.5% from a year earlier, while the number of new listings and active listings also declined.
September market data continues to point to a softer condo environment, particularly for investors and owners of units competing with a large supply of similar properties. For buyers, this can create opportunities to negotiate on price and terms, while sellers need to be realistic about pricing and prepared for longer marketing periods.
The underlying story is one of pent-up demand rather than a lack of interest in homeownership. Many people are watching the market closely and would like to buy, but they want to feel more confident about their employment, the economy and where borrowing costs are headed.
As we move through the fall, the key question will be whether improved affordability is enough to bring some of these buyers off the sidelines. If confidence improves while the supply of available homes remains relatively restrained, we could see more activity in the months ahead.
For now, buyers have more negotiating power than they have had in recent years, while sellers need to price strategically and understand that today's buyers are taking their time.
