The latest TRREB Market Watch report for August 2026 shows a GTA housing market with fewer homes available for sale. While sales declined slightly compared to last year, new and active listings fell much faster, reducing buyer choice across many communities.
The average GTA home price remained below last year’s level, but tightening inventory could create more competition if buyer demand strengthens in the months ahead.
GTA Home Sales Edge Lower
GTA REALTORS® reported 5,057 home sales in August 2026, down 2.1% compared to August 2025.
Although transactions were slightly lower, the decline in sales was much smaller than the drop in listings. This suggests demand remains relatively steady while available supply is beginning to tighten.
New Listings Drop Sharply
One of the biggest changes in August was the decline in homes coming onto the market.
• 5,057 sales — down 2.1%
• 12,075 new listings — down 14.1%
• 24,482 active listings — down 11.3%
• Average price: $993,410 — down 2.7%
• Median price: $850,000
• Average LDOM: 35 days
• Average PDOM: 51 days
With new listings falling much faster than sales, buyers may have fewer options than they did a year ago.
Average GTA Home Price Falls Below $1 Million
The average selling price across the GTA was $993,410, down 2.7% year over year from $1,021,300 in August 2025.
TRREB’s MLS® Home Price Index Composite benchmark was also down 4.5% compared to last year.
However, prices showed greater stability month over month. The benchmark remained essentially flat compared to July, while the average selling price edged higher.
For buyers, this continues to provide opportunities at prices below last year’s levels. For sellers, reduced inventory could create stronger conditions if demand improves.
Toronto and York Region Market Highlights
Toronto remained the GTA’s busiest market, recording 1,767 sales and an average selling price of $979,684.
York Region continued to record some of the highest average home prices in the GTA, with 971 sales and an average price of $1,179,938.
August 2026 Highlights
Richmond Hill: $1,205,777
Vaughan: $1,234,758
Markham: $1,208,692
Aurora: $1,105,004
Newmarket: $1,048,321
Stouffville: $1,158,512
King: $1,851,310
These numbers continue to show how much market conditions can vary depending on neighbourhood and property type.
What This Means for Buyers
The TRREB Market Watch August numbers still provide opportunities for GTA buyers.
Prices remain below last year’s levels, but inventory is beginning to shrink. Buyers who are financially prepared may want to pay close attention to desirable properties as fewer listings could eventually lead to more competition.
Local pricing, recent comparable sales and neighbourhood inventory remain important when deciding how aggressively to approach an offer.
What This Means for Sellers
For sellers, declining inventory means fewer competing homes are entering the market.
However, homes are also taking slightly longer to sell. Average listing days on market increased from 33 to 35 days, while average property days on market increased from 49 to 51 days.
Accurate pricing, strong presentation and professional marketing remain essential for attracting serious buyers.
GTA Housing Market Continues to Adjust
August’s numbers point to a market that continues to move toward greater balance.
Sales declined only slightly, while new and active listings experienced much larger drops. If inventory continues to tighten and buyer confidence improves, competition could increase and put upward pressure on prices.
Whether you’re buying, selling or investing, understanding what’s happening in your specific neighbourhood can help you make a more informed decision.
Thinking About Buying or Selling?
The Daryl King Team helps buyers, sellers and investors navigate changing real estate conditions across Toronto and the GTA.
Whether you’re planning your next move or want to understand what your property could be worth in today’s market, our experienced team is here to help.
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