Published 29 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
In most of the GTA, a detached house at the median price buys a condo apartment at the median price with several hundred thousand dollars to spare. TRREB’s August 2026 figures put the City of Toronto detached median at $1,170,000 and the condo apartment median at $550,000, a $620,000 gap. In Oakville the gap is $1,089,000; in Mississauga, detached to condo townhouse, it is $499,000. Those are median to median, before costs. From the gap come land transfer tax on the purchase (Toronto buyers pay it twice), commission, legal fees and moving. On an illustrative Toronto West example, about $517,000 is left. Your house and your target home will differ from the medians, so use the table as a map, not a quote.
How to read the table
Everything below comes from TRREB’s Market Watch for August 2026, a single month. I use medians, the middle sale, because a few very expensive homes pull averages up. Where a municipality had fewer than 15 sales of a home type that month, the figure is marked with an asterisk: small samples swing a lot, so treat those as rough. A dash means there is no figure for that home type in our August extract.
“Gap” is simply one median minus the other. It is not what you would pocket. Costs come off, and your house is not the median house. For how each city compares as a place to live, see the GTA retirement hub.
The table: detached vs condo townhouse vs condo apartment
| Municipality | Detached median | Condo townhouse median | Condo apartment median | Gap: detached to townhouse | Gap: detached to apartment |
|---|---|---|---|---|---|
| All TRREB areas | $1,100,000 | $660,000 | $530,000 | $440,000 | $570,000 |
| City of Toronto | $1,170,000 | $661,650 | $550,000 | $508,350 | $620,000 |
| Toronto West (incl. Etobicoke) | $1,100,000 | $647,500 | $525,000 | $452,500 | $575,000 |
| Toronto Central | $1,800,000 | $730,000 | $576,900 | $1,070,000 | $1,223,100 |
| Toronto East (incl. Scarborough) | $950,000 | $645,000 | $482,000 | $305,000 | $468,000 |
| Mississauga | $1,189,000 | $690,000 | $500,000 | $499,000 | $689,000 |
| Brampton | $947,500 | $547,000 | $425,000 | $400,500 | $522,500 |
| Caledon | $1,140,000 | — | — | — | — |
| Oakville | $1,604,000 | $587,500 | $515,000 | $1,016,500 | $1,089,000 |
| Burlington | $1,250,000 | $660,000 | $482,500 | $590,000 | $767,500 |
| Milton | $1,130,000 | $610,000* | $505,000* | $520,000 | $625,000 |
| Halton Hills | $990,000 | $588,000* | $575,000* | $402,000 | $415,000 |
| Vaughan | $1,425,000 | $715,000* | $525,000 | $710,000 | $900,000 |
| Markham | $1,488,000 | $750,000 | $563,800 | $738,000 | $924,200 |
| Richmond Hill | $1,482,500 | $715,000* | $500,000 | $767,500 | $982,500 |
| Aurora | $1,390,000 | $665,000* | $499,000* | $725,000 | $891,000 |
| Newmarket | $1,090,000 | $707,000* | $650,000* | $383,000 | $440,000 |
| Pickering | $990,000 | — | $509,900* | — | $480,100 |
| Ajax | $935,000 | — | $487,513* | — | $447,487 |
| Oshawa | $699,999 | $487,500* | $327,500* | $212,499 | $372,499 |
| Clarington | $810,000 | — | $439,500* | — | $370,500 |
| Durham Region | $860,000 | $553,100 | $457,500 | $306,900 | $402,500 |
* Fewer than 15 sales in August 2026. Whitby is left out because its detached median was not reliably captured in our extract. Source: TRREB Market Watch, August 2026.
What the table tells you
- The biggest gaps are where detached prices are highest. Toronto Central (detached $1,800,000 against a $576,900 condo apartment) and Oakville show gaps over $1,000,000. Richmond Hill, Markham and Vaughan are close behind.
- Condo apartments are more uniform than houses. In Toronto, Mississauga, Oakville, Burlington, Vaughan, Markham and Richmond Hill the condo apartment median sat between $482,000 and $576,900, while detached medians ranged from $699,999 in Oshawa to $1,800,000 in Toronto Central.
- Condo townhouses cost more than apartments in every area in the table, but give you a door to the street and less dependence on elevators. Among the bigger markets the difference was smallest in Oakville ($587,500 against $515,000).
- Some small markets barely trade condos. Newmarket, Aurora, Halton Hills and Ajax had a handful of condo sales in August; look at several months before you plan around them.
If you want freehold: semis and freehold townhouses
Many downsizers do not want condo fees or a board. A semi-detached house or a freehold townhouse is the usual alternative. The gap is smaller, but the monthly costs are yours to control.
| Area | Detached median | Semi-detached median | Freehold townhouse median |
|---|---|---|---|
| City of Toronto | $1,170,000 | $981,000 | $962,000 |
| Mississauga | $1,189,000 | $881,000 | $855,000* |
| Brampton | $947,500 | $769,500 | $735,000 |
| Burlington | $1,250,000 | $898,500* | $870,000 |
| Markham | $1,488,000 | $945,000 | $995,000 |
| Vaughan | $1,425,000 | $1,022,500* | $1,005,000 |
| Durham Region | $860,000 | $719,750 | $722,000 |
* Fewer than 15 sales in August 2026. Stairs are the catch: most townhouses and many semis are two or three storeys. If one-floor living is the goal, read buying a bungalow in retirement.
The costs to subtract
Land transfer tax on the home you buy. Ontario charges 0.5% on the first $55,000, 1.0% from $55,000 to $250,000, 1.5% from $250,000 to $400,000, 2.0% from $400,000 to $2,000,000 and 2.5% above that. On a $400,000 purchase that is $4,475. In the City of Toronto you also pay the municipal land transfer tax, which uses the same brackets up to $2,000,000, so a Toronto purchase doubles the bill. Most downsizers are repeat buyers and get neither the Ontario refund (up to $4,000) nor Toronto’s rebate (up to $4,475): both require that you have never owned a home anywhere. The land transfer tax calculator works it out for any price.
Commission on the home you sell. It is negotiable. For illustration only, I use 4% of the sale price, plus HST. Yours may be different.
Everything else. Legal fees on both sides, any mortgage or line of credit to discharge, moving, and whatever you spend making the new place work for you. These vary too much to estimate here; the net proceeds calculator lets you enter your own.
Three worked examples
| Worked example (illustrative, medians) | Sell at | Buy at | Gap | Land transfer tax on purchase | Commission at 4% (plus HST) | Left before legal, moving, HST |
|---|---|---|---|---|---|---|
| Toronto West: detached to condo apartment | $1,100,000 | $525,000 | $575,000 | $13,950 (Ontario + Toronto) | $44,000 | $517,050 |
| Mississauga: detached to condo townhouse | $1,189,000 | $690,000 | $499,000 | $10,275 (Ontario) | $47,560 | $441,165 |
| Oakville: detached to condo apartment | $1,604,000 | $515,000 | $1,089,000 | $6,775 (Ontario) | $64,160 | $1,018,065 |
All three use August 2026 medians and an illustrative 4% commission. Each is labelled illustrative for a reason: the real figure depends on your house, the home you choose, and the deal you negotiate. Tax on the sale of a principal residence is usually nil, but check the exceptions in capital gains when downsizing.
The monthly side changes too
The lump sum is only half the picture. A condo brings a monthly maintenance fee, which varies widely by building, so ask for the current fee, its history and the status certificate before you firm up. Property tax will change because the new home has a different assessment and possibly a different municipal rate. And your utilities and repair costs usually fall. The downsizing money planner below puts the lump sum and the monthly difference side by side.
When I tour condos with downsizers, I check three things before the kitchen: how many elevators serve the building, whether there is a step-free route from the parking or the street, and how the reserve fund looks. A beautiful unit in a building with one elevator is a problem waiting to happen.
Getting your own number
- Find what homes like yours actually sold for on your street with what did my neighbour sell for.
- Price the home you want to buy, not the median: a two-bedroom with parking costs more than the typical unit.
- Subtract land transfer tax, commission, legal and moving costs.
- Put both figures side by side in the planner and see what the move changes each month.
- If you are helping a parent, how to talk to your parents about downsizing is a good place to start.
If you would like me to run the real numbers for your house and a shortlist of targets, book a call or phone 833-330-1925.
Free tool — Downsizing money planner
Downsizing money planner
See roughly how much a move frees up, what the next place costs, and how long the money lasts. Prices start at TRREB’s August 2026 medians; change any number to match your home.
Want the line-by-line breakdown, plus what homes like yours actually sold for on your street? I’ll show the full breakdown here and send you a short written plan. No obligation, no spam.
Estimates only, not advice or a valuation. Starting prices are TRREB Market Watch August 2026 medians (one month, whole-municipality figures). Rent default: Rentals.ca August 2026 Toronto average asking rent. Retirement home default: CMHC’s last Seniors’ Housing Survey (2021, Toronto, studio or private room with meals; CMHC has since discontinued it), so expect higher today. Land transfer tax uses Ontario’s brackets, plus Toronto’s municipal tax for Toronto purchases; repeat buyers get no first-time rebate. Property tax is estimated on the price, but your bill is based on MPAC’s assessed value, which is usually lower.
Frequently asked questions
What can I buy if I sell my house and downsize in Toronto?
At August 2026 medians, a City of Toronto detached house ($1,170,000) would buy a condo apartment at the median ($550,000) with a $620,000 gap, or a condo townhouse at the median ($661,650). Land transfer tax, commission, legal and moving costs come off that gap, and your house may differ from the median.
How much money will I have left after downsizing?
Take your sale price, subtract commission and legal fees, then subtract the purchase price and land transfer tax of the new home. On an illustrative Toronto West example, selling at $1,100,000 and buying at $525,000 leaves about $517,050 before HST on commission, legal fees and moving.
Do seniors pay land transfer tax when downsizing?
Yes. Ontario’s first-time buyer refund and Toronto’s first-time rebate both require that you have never owned a home anywhere, so most downsizers pay the full tax. In the City of Toronto you pay both the provincial and the municipal land transfer tax.
Is a condo townhouse cheaper than a condo apartment?
Usually not. In August 2026 the condo townhouse median was higher than the condo apartment median in every GTA area in our table, for example $690,000 against $500,000 in Mississauga. Among the bigger markets the two were closest in Oakville, $587,500 against $515,000.
Where in the GTA do you get the most money from downsizing?
Median to median, the biggest gaps in August 2026 were in Toronto Central and Oakville, both over $1,000,000 from detached to condo apartment, followed by Richmond Hill, Markham and Vaughan. Those are one-month medians before costs, not a forecast, and your own house may sit well above or below its local median.
Sources
- TRREB — Market Watch, August 2026 — August 2026 sales and median prices by home type and municipality
- Government of Ontario — Calculating land transfer tax — provincial brackets and the $400,000 example
- Government of Ontario — Land transfer tax refunds for first-time homebuyers — repeat buyers cannot re-qualify
- City of Toronto — Municipal Land Transfer Tax rates & fees — MLTT brackets as of 1 April 2026
- Canada Revenue Agency — Principal residence and other real estate — when the gain on your home is not taxed
Related reading
- Best places to retire in the GTA (2026)
- Sell and rent in retirement?
- What makes a condo building good for seniors
- Buying a bungalow in retirement
- Land transfer tax calculator
- Net proceeds calculator
- Downsizing in Toronto
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Etobicoke. I work with buyers and sellers across Toronto and the GTA, and I have helped more than 100 families sell, many of them downsizing after decades in the same house. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from the regulator or the legislation, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.