What homes actually sell for in Toronto and the GTA, which way prices are moving, and how to read the numbers yourself — using TRREB’s published figures, not headlines.
Current prices
What is the average home price in the GTA right now?
In August 2026 the average GTA home sold for $993,410 and the median for $850,000, on 5,057 sales, according to TRREB’s Market Watch. The average was down 2.7% from August 2025, and TRREB’s MLS Home Price Index benchmark was down 4.5%.
Full guide: Toronto West market reportTry it: Monthly market reportSource: TRREB Market Watch
Last reviewed October 2026 · Jatin Dua, Broker of Record
How much is a detached house in Toronto?
In August 2026 the median detached house in the City of Toronto sold for $1,170,000 on 550 sales, and the GTA-wide detached median was $1,100,000, according to TRREB. Prices vary enormously by district — Toronto East’s detached median was $950,000 that month, while prime central and west-end pockets run several times higher.
Try it: Home value estimatorSource: TRREB Market Watch
Last reviewed October 2026 · Jatin Dua, Broker of Record
How much is a condo in Toronto?
The median City of Toronto condo apartment sold for $550,000 in August 2026 on 885 sales, per TRREB. Mississauga’s condo median was $500,000 and Durham Region’s $457,500. Suite size, building age, parking and exposure move individual prices far more than the citywide figure.
Try it: Condo value estimatorSource: TRREB Market Watch
Last reviewed October 2026 · Jatin Dua, Broker of Record
What is the cheapest place to buy a home in the GTA?
On TRREB’s August 2026 figures, Durham Region was the most affordable major area for houses: Oshawa’s detached median was $699,999 on 97 sales, against $1,170,000 in the City of Toronto. For condos, Brampton’s median of $425,000 was among the lowest, though on few sales.
Full guide: Most affordable places to buy in the GTA
Last reviewed October 2026 · Jatin Dua, Broker of Record
Why do average and median prices tell different stories?
The average is pulled up by expensive sales, while the median is the middle sale, so a month with more luxury sales raises the average without anyone paying more for a typical home. Mix matters too: a month with more condo sales lowers both. TRREB’s Home Price Index adjusts for the type of home, which is why it can fall more than the average.
Try it: Monthly market report
Last reviewed October 2026 · Jatin Dua, Broker of Record
Where prices are heading
Will Toronto house prices drop in 2027?
No one can tell you for certain, and anyone who sounds sure is guessing. What the data showed in 2026 was a buyer-leaning market — prices down a few percent year over year, new listings down 14.1% in August, homes selling at about 97% of list — with the direction in 2027 depending mostly on interest rates, employment and how quickly unsold new condos are absorbed.
Full guide: Will Toronto prices drop in 2027?Try it: Monthly market report
Last reviewed October 2026 · Jatin Dua, Broker of Record
Is it a buyer’s or seller’s market in Toronto?
Through 2026 most of the GTA has leaned toward buyers, especially for condos, where supply runs at many months of inventory. Detached and semi-detached homes in established neighbourhoods have been more balanced. Months of inventory — active listings divided by monthly sales — is the quickest way to tell for your own segment.
Try it: Monthly market report
Last reviewed October 2026 · Jatin Dua, Broker of Record
Why did Toronto condo sales fall so much?
Investors largely stepped back as rents eased and carrying costs rose, while a wave of new completions added supply; condo sales across the GTA dropped to multi-decade lows. End-users buying to live in are now most of the market.
Full guide: Condo sales at a 35-year low
Last reviewed October 2026 · Jatin Dua, Broker of Record
Do interest rate cuts raise house prices?
They tend to support prices because lower rates raise how much buyers qualify for and lower monthly payments, but the effect is gradual and depends on confidence, jobs and supply. The stress test also limits the boost, because buyers still qualify at 5.25% or their rate plus 2 points.
Full guide: Fixed or variable in 2026
Last reviewed October 2026 · Jatin Dua, Broker of Record
Reading the data
Where can I find reliable Toronto real estate statistics?
TRREB’s monthly Market Watch is the main source for GTA resale data — sales, prices, new listings and days on market by region and district. It publishes community-level data only quarterly, and it does not publish price per square foot at the neighbourhood level.
Try it: Monthly market reportSource: TRREB Market Watch
Last reviewed October 2026 · Jatin Dua, Broker of Record
What does days on market mean?
It is the average number of days homes that sold were listed before selling. In August 2026 the GTA average was 35 days. A home that is relisted can show fewer days than it really spent on the market, so ask your agent for the full listing history.
Try it: Monthly market report
Last reviewed October 2026 · Jatin Dua, Broker of Record
What is the sale-to-list price ratio?
It compares what homes sold for with their asking price; 100% means they sold at asking on average. GTA homes averaged about 97% in August 2026, meaning most sold slightly below list. Above 100% signals bidding wars; well below it signals buyers have leverage.
Try it: Monthly market report
Last reviewed October 2026 · Jatin Dua, Broker of Record
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Jatin Dua · Broker of Record · RE/MAX Quantum Realty · Toronto and the GTA