Best Time to Buy a House in 2027 in the GTA, Month by Month

Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty

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Snowy GTA residential street of brick detached homes on a January afternoon (illustrative)

By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — January and late summer give GTA buyers the most leverage; spring gives the most choice. Month-by-month TRREB data and 2027 dates.

Short answer

January is usually the best month to buy in the GTA, with August and December close behind. TRREB average prices were lowest in those months in 2024 to 2026 and highest in May. In January 2026, homes took 45 days to sell. Spring offers the most choice, but more buyers and higher prices.

This is for GTA buyers trying to pick the right month to buy in 2027. You will get three years of TRREB month-by-month prices, a month-by-month guide to competition and choice, and the 2027 dates that could change your timing.

What is the best time to buy a house in the GTA in 2027?

For the lowest prices and the most negotiating power, January is usually the best month to buy in the GTA, with August and December close behind. For the most choice, April to June is best, but you will pay more and face more buyers. In each of 2024, 2025 and 2026, the GTA average price was lowest in January, August or December, and highest in May.

The best month for you also depends on what you are buying and your own deadlines. A first-time condo buyer, a family that needs a school-year move and a new-home buyer chasing a rebate deadline will each have a different answer.

Which month is cheapest to buy a house in the GTA?

Here are TRREB’s monthly average prices for the last three years, with 2026 sales so you can see how busy each month was.

Month	Average price 2024	Average price 2025	Average price 2026	Sales 2026
January	$1,028,699	$1,041,187	$968,468	3,044
February	$1,114,829	$1,086,586	$1,007,347	3,833
March	$1,125,794	$1,090,372	$1,015,058	4,992
April	$1,155,260	$1,106,424	$1,051,878	5,916
May	$1,167,807	$1,120,716	$1,069,716	6,544
June	$1,164,491	$1,101,854	$1,058,789	6,730
July	$1,113,116	$1,050,529	$1,004,009	5,964
August	$1,077,825	$1,021,300	$993,532	5,034
September	$1,112,113	$1,060,036	$1,006,557	5,034
October	$1,135,694	$1,052,539	$1,024,108	5,603
November	$1,110,415	$1,039,575	n/a	n/a
December	$1,060,496	$1,006,141	n/a	n/a

Source: TRREB Market Watch monthly statistics, all TRREB areas, all home types (October 2025 report for 2024; October 2026 report for 2025 and 2026, as revised).

The pattern repeats. Prices are lowest in mid-winter, climb through spring to a May peak, dip in July and August, recover a little in September and October, then fall again into December and January. In 2026, the January average was about 9.5% below the May average.

One honest caveat: an average price is not the price of one house. In spring, more detached homes sell, and they cost more, which pushes the average up. Some of the seasonal swing is that mix, not sellers charging more for the same home. Still, buyers in quieter months face fewer rivals, and that is where real savings come from.

Which months give buyers the most negotiating power?

Price is only half the story. What matters more is how many homes you can choose from and how many other buyers want them. This table shows the last 12 months of GTA activity.

Month	New listings	Sales per 100 new listings	Sale-to-list price	Avg days on market
Nov 2025	11,134	45	97%	34
Dec 2025	5,299	70	97%	41
Jan 2026	10,774	29	97%	45
Feb 2026	10,705	36	97%	36
Mar 2026	14,442	35	98%	31
Apr 2026	17,097	35	98%	29
May 2026	17,698	37	98%	27
Jun 2026	17,282	39	98%	29
Jul 2026	14,484	41	97%	32
Aug 2026	12,075	42	97%	35
Sep 2026	16,500	31	98%	34
Oct 2026	14,173	40	97%	31

Source: TRREB Market Watch, November 2025 to October 2026, all TRREB areas, as first reported each month. “Sales per 100 new listings” is my arithmetic from that month’s sales and new listings, not TRREB’s 12-month trend.

A low “sales per 100 new listings” number means lots of fresh supply for each sale, which favours buyers. January 2026 was the standout: 29 sales for every 100 new listings, and homes took 45 days to sell. September was next, when sellers rushed back after summer. December looks tight on paper only because very few people list over the holidays.

Free tool — what can you actually afford?

Is January or February 2027 a good time to buy?

January is the best month for leverage. Prices and competition are at their lowest, and sellers who list in January often need to move. The trade-off is choice: fewer homes and grey photos. The Bank of Canada makes a rate decision and publishes its Monetary Policy Report on 27 January 2027, and if you have a First Home Savings Account, new contribution room of up to $8,000 opens on 1 January. My FHSA guide explains how to use it for a 2027 purchase.

February is a sweet spot. Listings start to build, but the spring crowd has not fully arrived. In February 2026, homes took 36 days to sell on average. If you want a bit more choice than January without spring prices, start looking now.

What about buying in spring 2027, from March to June?

March is when the season turns. In 2026, new listings jumped to 14,442 and sales rose by about 30% from February. The Bank of Canada decides on 3 March 2027. For new-home buyers, 31 March 2027 is the last day to sign a builder agreement that qualifies for Ontario’s enhanced HST rebate, according to the CRA. My guide on the new home HST rebate explains it.

April and May bring the most homes for sale, but also the highest prices and fastest sales. In May 2026, homes sold in 27 days on average, the quickest of the year. The Bank’s next decision and Monetary Policy Report come on 28 April 2027.

June stays busy, with lots of listings and families aiming to move before the school year. The Bank decides on 2 June 2027.

If you want spring choice, get your pre-approval in place before March, and have your down payment sitting in an account you can reach quickly. In a busy week, the buyer who can sign a clean offer with a firm deposit often wins over a buyer who offers a little more but needs time to sort out money.

Is summer a good time to buy a house in the GTA?

July and August are the quiet middle of the year. In 2026, the August average price, $993,532, was the second lowest of the year, and new listings fell to 12,075. Many buyers are away, so the ones who stay often face less competition. The catch is that many good homes are held back for September. The Bank decides on 21 July 2027.

Is fall 2027 a good time to buy?

September is the fall version of spring. In September 2026, 16,500 new listings came out against 5,040 sales, which gave buyers plenty to choose from. The Bank decides on 8 September 2027.

October and November are steady and often overlooked. Sellers who have not sold by now are more flexible, especially on closing dates. The Bank decides on 27 October 2027.

December has the fewest new listings of the year, 5,299 in December 2025, and the slowest pace, with 41 days on market. But the sellers who stay listed through the holidays are often motivated, and December 2025 had the lowest average price of that year. The Bank’s last 2027 decision is on 8 December.

My take

In my experience, the best month to buy is the month you are ready, but if you have a choice, January and late August are where I see buyers get the best terms. Fewer people are looking, sellers are more realistic, and you can ask for a longer closing, a price cut or both. Spring is for buyers who need a specific type of home in a specific area and want the most listings to choose from. Just go in knowing you will pay more for that choice.

Does the best month change for condos, first-time buyers and new homes?

Condo buyers: timing matters less. GTA condo apartments took 38 days to sell on average in October 2026, with about 5.8 months of supply by my arithmetic, so buyers have room in most months.
First-time buyers: early in the year can work well, after FHSA room resets on 1 January and before the spring rush. See my first-time home buyer checklist.
New-home buyers: the 31 March 2027 rebate deadline matters more than the season.
Families with children: buying in spring for a summer closing avoids changing schools mid-year.

Watch out

Do not let a rate hold expire while you wait for the “right” month. The Financial Consumer Agency of Canada says pre-approval rate holds run 60 to 130 days depending on the lender. The Bank of Canada raised its rate to 2.50% in October 2026 and said more increases could be needed. If you plan to buy in spring, a pre-approval in January may protect you from a hike in March or April. My post on what a pre-approval guarantees covers the details.

What to do next

Pick your target window: January to February for leverage, April to June for choice, August to September for a mix of both.
Count back 60 to 90 days from that window and book your pre-approval so the rate hold covers your search.
Put the Bank of Canada dates in your calendar: 27 January, 3 March, 28 April, 2 June, 21 July, 8 September, 27 October and 8 December 2027.
If you are buying new, confirm with your lawyer whether you can sign before 31 March 2027.
Watch days on market for your area each month. When homes sit longer, that is your best time to make an offer.

Need help with this? Talk to me.

I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].

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Frequently asked questions

What is the cheapest month to buy a house in Toronto?

January is usually the cheapest month to buy a house in Toronto and the GTA. TRREB’s average price was lowest in January in 2024 and 2026, and lowest in December in 2025. In January 2026, the GTA average was $968,468, about 9.5% below the May peak, partly because fewer detached homes sell in winter.

When is the best time to buy a house in 2027?

For price and negotiating power, January 2027 and late summer are the best times to buy in the GTA. For the most choice, April to June is best, but prices and competition peak then. In 2026, homes took 45 days to sell in January and only 27 days in May, according to TRREB.

What month do house prices drop in Ontario?

In the GTA, average prices usually drop in July and August and again from November to January. In 2026, the GTA average fell from $1,069,716 in May to $993,532 in August, according to TRREB. Part of that drop reflects fewer detached sales rather than lower prices on the same homes.

Is it better to buy a house in winter or spring in the GTA?

Winter is better for price and leverage, and spring is better for choice. In January 2026, GTA homes took 45 days to sell and the average price was the year’s lowest. In May 2026, homes sold in 27 days at the year’s highest average price, but buyers had far more listings to pick from.

Is December a good time to buy a house in Toronto?

Yes, if you find the right home. December has the fewest new listings of the year, 5,299 across the GTA in December 2025, so choice is thin. But homes took 41 days to sell and December 2025 had that year’s lowest average price, so holiday sellers are often motivated and open to offers.

Is September a good time to buy a house in the GTA?

Yes, September is one of the better months for choice. In September 2026, 16,500 new listings came onto the GTA market against 5,040 sales, the second-lowest ratio of sales to new listings in the past year by my arithmetic from TRREB data. Homes sold for 98% of list price on average.

When should I get pre-approved if I want to buy in spring 2027?

Get pre-approved in January or early February 2027. The Financial Consumer Agency of Canada says rate holds run 60 to 130 days depending on the lender, so a January pre-approval can cover most of the spring market. With the Bank of Canada at 2.50% and possible hikes, a rate hold protects you.

When is the best time to buy a condo in Toronto in 2027?

Timing matters less for Toronto condos because buyers have room most of the year. In October 2026, GTA condo apartments took 38 days to sell and had about 5.8 months of supply by my calculation from TRREB data. Quieter months like January still give the most leverage on price.

What is the deadline to buy a new home with the Ontario HST rebate?

Builder agreements must be signed on or before 31 March 2027 to qualify for Ontario’s enhanced new housing rebate, according to the CRA. The rebate covers up to $80,000 of the 8% provincial HST on eligible homes. Ontario’s separate payment covers up to $50,000 of the federal part. Confirm with your lawyer.