Market Insights · July 2026
July 2026 data · Updated August 7, 2026
Each chapter answers one question, with the thresholds drawn in the chart.
Average sold price by month, trailing 5 years
Each point is the average price of the homes that sold that month. The dashed line is where July 2026 sits, so anywhere the line touches it, prices were at today's level. The market last climbed away from that level before this range begins — widen the range to see the ring that marks it.
The July 2026 average price of $1.00M is back at the level the market last left in January 2021. It remains 24.8% below the $1.33M peak set in February 2022 across the 175-month visible window.
An average moves with the MIX of homes that sold as well as with their value: a month heavy on detached sales lifts the average without any individual home changing price.
July 2026 · compared with the same month last year
Arrows show price direction, not market favourability.
Sales-to-new-listings ratio, trailing 5 years
Each point is the share of that month's new listings that sold in the same month. Below 40% favours buyers, 40–60% is balanced, and above 60% favours sellers.
The sales-to-new-listings ratio rose to 37.1% from 36.5% in June 2026. It is 2.9 percentage points below the 40% balanced-market line.
Months of inventory, trailing 5 years
Months of inventory is how long the active listings would last at the current pace of sales. Under 3 months favours sellers, 3–6 is balanced, and over 6 favours buyers — the opposite direction to the ratio above, because more inventory means more choice for buyers.
Months of inventory fell to 4.6 from 4.7 in June 2026. Supply is 1.6 months above the 3-month seller-market line.
Months of inventory by segment, trailing 5 years
Each line is how long that segment's listings would take to sell at its own pace of sales. The bands are the same thresholds as the chapter above — under 3 months favours sellers, 3–6 is balanced, over 6 favours buyers — so the vertical distance between the two lines is the distance between two market conditions.
In July 2026 it would take 5.2 months to sell every condo on the market at that month's pace of sales, against 4.0 months for freehold homes. The two segments are 1.2 months apart, narrower by 0.4 months than the 1.6 months that separated them in July 2025.
Freehold = detached, semi-detached and link homes; condo = condo apartments and condo townhouses. The buyer's/seller's verdict TRREB publishes covers the combined market only — the bands here place each segment against the same thresholds, they do not classify it.
New listings minus sales, by month, trailing 5 years
One line: the homes newly listed in a month minus the homes that sold in it. Above the zero rule, listings arrived faster than buyers absorbed them and the surplus is what the line measures; below it, sales outran new listings.
New listings exceeded sales by 8,489 homes in July 2026. Compared with July 2025, the balance shifted by 3,024 homes toward demand.
These are monthly flows, not total inventory: a month with few new listings can still leave plenty of homes for sale.
Average days on market by month, trailing 5 years
Each point is the average number of days a sold home spent listed that month; a lower line means faster sales. Days on market is strongly seasonal, so the takeaway compares this month with the same month a year earlier rather than with the month before it.
The average listing took 32 days, 2 more than in July 2025. The latest monthly run has reinforced that move for 3 months.
Days on market measure how long a sale took, not whether it closed for more or less than the seller asked.
Sale price as a share of list price, trailing 5 years
The dashed line is the asking price. Above it, the average home sold for more than it was listed at; below it, for less. A one-point move is roughly $10,000 on a $1M home.
The sale-to-list ratio fell to 97.0% from 98.0% in June 2026. The average deal is 3.0 percentage points below the 100% asking-price line.
Average sold price by month, coloured by that month's market condition, trailing 5 years
You don't need a single statistic to read this one — the colour is the supply condition at the time. Each segment takes the colour of the month it ends in, using the same three conditions as the bands above. Months with no published condition run grey, and months with no sale data stay gaps.
The market has been in buyer's-market territory for 19 months, since January 2025. Average price has fallen 3.6% across that stretch, from $1.04M in January 2025 to $1.00M.
The colour records the conditions a month was sold under. It does not claim those conditions caused that month's price.
Months of inventory above, average sold price below, trailing 5 years
Both panels share one row of months, so a point in the top panel sits directly above the same month below. The dashed rules mark where inventory turned — a month it stopped rising and began falling, or the reverse — and only turns the data has since confirmed are drawn.
Months of inventory topped out at 5.0 in February 2026, 5 months before July 2026. Average price is essentially unchanged since that turn, at $1.00M against $1.01M.
Supply turning before price is a pattern, not a rule, and neither panel proves one caused the other.
New listings by month, each year drawn as its own line
July 2026 recorded 14,484 new listings, 18% fewer than in July 2025.
Source: TRREB Market Watch, July 2026
A focused view of Toronto’s TRREB districts for July 2026.
| Area | Average price | Vs. last year | Sales |
|---|---|---|---|
| C01 — Downtown Core277 sales | $773,284 | −5.2% | 277 |
| C08 — Downtown East / Waterfront158 sales | $719,427 | +0.6% | 158 |
| W08 — Kingsway / Islington / Etobicoke West119 sales | $1,086,767 | −4.9% | 119 |
| C15 — Bayview Village / Don Valley115 sales | $910,683 | +13.4% | 115 |
| C13 — Don Mills / Parkwoods90 sales | $891,304 | −9.2% | 90 |
| W06 — Long Branch / Mimico88 sales | $939,558 | +5.8% | 88 |
| W05 — Downsview / York University82 sales | $790,781 | −2.3% | 82 |
| C02 — Annex / Casa Loma / Yonge-St. Clair77 sales | $1,697,412 | −5.7% | 77 |
Source: TRREB Market Watch, July 2026 · District-level figures
The GTA real estate market continues to exhibit a buyer's market condition, as evidenced by the rising Sales-to-New-Listings Ratio (SNLR) trend over the past year. The SNLR has increased from 34.5% in August 2025 to 37.1% in July 2026, indicating that while sales are slightly down year-over-year, new listings have also decreased significantly. This shift suggests that buyers are becoming more selective, and the competition among them is intensifying, albeit slowly.
Year-over-year, the average price in the GTA has seen a decline of 4.5%. This downward trend can largely be attributed to the ongoing impact of interest rates, which have remained elevated, affecting affordability for many potential buyers. Additionally, the seasonal effects of summer typically lead to a slowdown in market activity, further contributing to the price adjustments we are witnessing. As buyers navigate these financial constraints, sellers may need to adjust their expectations accordingly.
The narrative of supply and demand in the GTA is becoming increasingly complex. While new listings have decreased to 14,484 this month, sales have also dipped slightly to 5,995. This combination has resulted in a modest increase in active listings, which now stand at 26,098. The current inventory levels suggest that while there is still a healthy supply of homes available, the balance is shifting slightly in favor of buyers. This could lead to increased negotiation leverage for buyers, particularly in a market where sellers may be more willing to entertain offers below asking price.
The average days on market (DOM) for homes in the GTA has stabilized at 32 days, reflecting a slight increase from previous months. This trend indicates that homes are taking a bit longer to sell, which could be a sign of buyer hesitation in the current economic climate. Coupled with a sale-to-list price ratio of 97%, it appears that while homes are still selling close to their asking prices, buyers are not rushing into purchases. This environment may lead to fewer multiple offers and more opportunities for buyers to negotiate favorable terms.
As we look to next month, it will be important to monitor the trends in new listings and sales volume closely. A continued increase in active listings could signal a shift in market dynamics, while any changes in interest rates will also play a critical role in shaping buyer behavior. Keeping an eye on these metrics will be essential for both buyers and sellers navigating the GTA real estate landscape.
About this data. Monthly market statistics are sourced from the Toronto Regional Real Estate Board (TRREB) Market Watch report. Metrics labelled “calculated” are derived from MLS® listing data and may differ from official board figures. Figures reflect data available as of August 7, 2026 for July 2026. This information is deemed reliable but is not guaranteed accurate. Content is provided for general information only and does not constitute financial, investment, or real estate advice.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA.
ODIN Economic Context · Live
Current economic signals beside the July 2026 local market report.
Jobs & confidence is providing support, while population & demand remains a headwind.
Rates & affordability
NeutralNext Bank of Canada decision
Hold expected
Likely steady
Jobs & confidence
TailwindToronto employment
3.77M
Firming
Population & demand
HeadwindOntario interprovincial migration
-5,774
Cooling
Construction & supply
HeadwindHousing completions
1,009
Less arriving
What to watch next
Next ontario interprovincial migration reading
A weaker net flow from other provinces can reduce one source of Ontario demand. The next release will show whether that pressure is persisting.
Rates & affordability
NeutralHold expected
2.25% current rate · 80% probability · Sep 2 decision
A hold would keep the policy-rate baseline steady through the next decision.
Current signal: Likely steady · As of Aug 22, 2026
Jobs & confidence
Tailwind3.77M
+0.3% from prior reading
More people working across the Toronto CMA can support buyer confidence and qualification.
Current signal: Firming · As of Jul 1, 2026
Latest included ODIN observation: Aug 22, 2026. Individual signal dates are shown above.
Population & demand
Headwind-5,774
-4,176 from prior reading
A weaker net flow from other provinces can reduce one source of Ontario demand.
Current signal: Cooling · As of Jan 1, 2026
Construction & supply
Headwind1,009
-24.1% from prior reading
Fewer newly completed homes are reaching the market than in the prior reading.
Current signal: Less arriving · As of Jul 1, 2026
ODIN's live public economic signals are displayed independently beside the report. They do not recalculate or interpret its TRREB market statistics.
ODIN delivers Statistics Canada Labour Force Survey and job-vacancy observations. Toronto CMA employment and unemployment are three-month moving averages; the national vacancy rate provides broader hiring context. ODIN delivers Statistics Canada migration observations and calculates migration-vs-housing-supply pressure from permanent-resident admissions and annualized national housing starts. National and Ontario signals describe broad demand pressure, not neighbourhood-level demand.