TRREB’s July 2026 figures: the GTA average selling price was $1,003,956, down 4.5% year over year, and new listings fell 17.8% to 14,484. Condo apartments averaged $672,807 in the 416 and $560,923 in the 905. TRREB’s own read is that the market tightened in July, setting the stage for price stability — and while prices have not bottomed, the pace of annual decline has moderated compared with earlier in 2026. What that means practically: sell now if you are moving up, if carrying the unit is straining you, or if you would be one of many identical listings when supply returns. Wait if you have no reason to move, the unit carries comfortably, and your horizon is five years or more. “Wait for the peak” is not a plan — nobody identifies it in advance.
I get this question every week, and most of the answers online are either an agent telling you it is always a good time to sell, or a doom post telling you the market is collapsing. Neither is useful.
Here is what the most recent data actually says, and then a framework for deciding — because the right answer genuinely depends on your situation, not on the market alone.
The July 2026 numbers
From TRREB’s July 2026 market report:
- GTA average selling price: $1,003,956, down 4.5% year over year
- New listings: 14,484, down 17.8% year over year
- Condo apartments, 416: $672,807 average
- Condo apartments, 905: $560,923 average
TRREB headlined the month as the market tightening and setting the stage for price stability. Independent commentary notes that prices have not bottomed, but the pace of annual decline has moderated versus earlier in 2026.
That is a genuinely mixed picture, and anyone presenting it as clearly good or clearly bad is telling you something other than the truth.
What the data actually tells us — and what it does not
The decline is slowing, not over
The most useful signal is the rate of change. Prices are still down year over year, but the pace of decline has moderated compared with earlier in 2026. That is what a market approaching stability looks like — and it is also what a market pausing before falling further can look like. Nobody can tell you which, in advance.
Supply is the interesting number
New listings fell 17.8% year over year to 14,484. That is a big move, and it is why TRREB describes the market as tightening.
Fewer sellers means less competition for the sellers who are listing. If you sell now, you are competing against materially fewer comparable listings than a year ago. That is the strongest single argument for selling now rather than waiting — because when confidence returns, the sellers currently sitting on the sidelines come back, and they come back all at once.
The 416 versus 905 gap
416 condos averaged $672,807 against $560,923 in the 905. Toronto proper is holding a meaningful premium. Etobicoke is in the 416.
The critical caveat
These are GTA-wide averages and your unit is not the average. A 1,000 sq ft two-bedroom in Mimico with a lake view and a healthy reserve fund is in a completely different position from a 480 sq ft studio in a 600-unit tower with fourteen identical units listed. Averages are context, not a valuation.
What to do about it: Use the averages for context and get an actual comparative market analysis for your specific unit. The 17.8% drop in new listings is the number that matters most to a seller today.
Sell now if any of these apply to you
You are moving up
This is the strongest case and it is chronically misunderstood. If you are selling a condo to buy a house, a soft market helps you. You take a smaller reduction on the cheaper asset and a larger reduction on the more expensive one. Waiting for both to rise widens the gap you have to fund.
People delay this move hoping to sell high — and then find the house they wanted has risen more than their condo did.
The carrying cost is straining you
If the unit is negative cash flow, or the payments are uncomfortable, or a renewal at current rates would be difficult — sell. Holding a stressed asset hoping for a recovery is how people end up selling at the worst possible moment, under pressure, with no negotiating room.
Your unit is undifferentiated
A small floor plan in a large tower, with no protected view and no scarcity, in an area with heavy new supply. These units are structurally difficult right now and they will be difficult again when supply returns. Thin listing supply is the best window this type of unit gets.
You need to move
Job, family, relationship, health. Do not organise your life around a market call. The cost of staying somewhere wrong for two years exceeds the price difference in most cases.
Your building has problems coming
A thin reserve fund, a looming special assessment, or major capital work ahead. These get disclosed in the status certificate and they get priced in. Selling ahead of a known issue is legitimate; concealing it is not. Talk to your lawyer about disclosure obligations.
What to do about it: The move-up trade is the clearest win in a soft market, and thin listing supply is the best window an undifferentiated unit is likely to get.
Wait if these describe you instead
You have no reason to move
Transaction costs are real and they are not small — commission, both land transfer taxes when you rebuy, legal fees, moving. Run your actual net proceeds before deciding. Selling and rebuying to time a market rarely clears those costs.
It carries comfortably
If the payment is manageable and you are not stressed, you have the luxury of time. That is worth a great deal. Forced sellers get the worst prices; patient owners do not.
Your unit is genuinely differentiated
A protected south or southeast view over Humber Bay Park and the lake. A 1,000 sq ft two-bedroom in Mimico that nobody is building anymore. A unit at Kipling or Islington with rapid transit that cannot be replicated.
These hold value better through a correction and recover better, because the advantage is structural rather than cyclical.
Your horizon is five years or more
Over long holds, Toronto real estate has performed well and owning has generally beaten renting for people who stayed put. That is a defensible statement. “Always goes up” is not, and the difference matters enormously if your horizon is three years rather than fifteen.
You bought at the peak
Uncomfortable but important: if you bought in 2021 and would crystallise a significant loss, and you can comfortably hold, holding is usually the better financial decision. Selling at a loss to avoid a further paper loss only works if you correctly predict the bottom — which nobody does.
The exception is if holding is straining you. Then the calculation changes entirely and you should sell.
What to do about it: Differentiated units and comfortable carrying costs both buy you the one thing that matters most in a soft market: time.
If you do sell, what actually matters right now
Price to today, not to what you paid
The single most common mistake. What you paid in 2021 is irrelevant to what a buyer will pay in 2026. An overpriced listing sits, goes stale, and eventually sells for less than a correctly priced one would have.
With supply thin, a well-priced listing gets attention. An overpriced one gets skipped, because buyers now have the patience to wait for the next one.
Presentation matters more than in a hot market
When buyers have choice, they eliminate rather than compete. Anything that gives them a reason to skip your unit costs you. Declutter, depersonalise, fix the small stuff, and get professional photography.
Fix deductions, not features
Renovation rarely returns its full cost — but visible problems cost more than they take to fix. Worn carpet in a living area, a patchwork of three flooring types, an obviously dated bathroom. Neutralise the objection, then stop spending. Flooring is where people most often overspend.
Get the status certificate early
Order it before you list. If there is something in it that will worry buyers — a thin reserve, upcoming work — you want to know before an offer falls apart on condition, not after.
Be realistic about time
Days on market are longer than in 2021. Build that into your plan, especially if you are buying something else. Do not create a situation where you must sell by a fixed date — that is exactly how people end up accepting a low offer.
What to do about it: Price to the market, fix the things that cause deductions, and give yourself enough time that you are never a forced seller.
Sell now or wait — a decision guide
| Your situation | Lean toward |
|---|---|
| Selling a condo to buy a house | Sell now — the gap you fund is smaller in a soft market |
| Carrying cost is straining you | Sell now — do not become a forced seller later |
| Small, undifferentiated unit in a big tower | Sell now — thin supply is your best window |
| You need to move for life reasons | Sell now — do not organise your life around a market call |
| No reason to move, carries comfortably | Wait — transaction costs rarely clear |
| Protected view, scarce large layout, or transit-adjacent | Wait — structural advantages recover better |
| Horizon of 5+ years | Wait |
| Bought at the peak, can hold comfortably | Wait — crystallising a loss requires calling the bottom |
- Net proceeds calculator — what you actually walk away with
- What is my Etobicoke condo worth right now?
- The real cost of selling a house in Ontario in 2026
- Why isn’t my house selling in Toronto?
- Corner vs interior units: what resells better
- Flooring compared: what to fix before you list
- Toronto Vacant Home Tax and land transfer tax 2026
- Free home valuation
Want to know what your unit is actually worth today?
Averages are context, not a valuation. Send me your address and I will pull the recent sales in your building, tell you honestly what it would sell for right now, and run your net proceeds after commission, taxes and fees — so you can make the decision on real numbers rather than headlines.
Talk to JatinFree home valuationNet proceeds calculatorConfidential. Reviewed personally and answered within 24 hours. I never share, sell or distribute your information.
Frequently asked questions
What is the Toronto condo market doing in 2026?
According to TRREB’s July 2026 report, the GTA average selling price was $1,003,956, down 4.5% year over year, while new listings fell 17.8% to 14,484. Condo apartments averaged $672,807 in the 416 and $560,923 in the 905. TRREB characterised the month as the market tightening and setting the stage for price stability, and commentary notes that while prices have not bottomed, the pace of annual decline has moderated compared with earlier in 2026. That is a mixed picture — improving on supply, still negative on price.
Should I sell my Toronto condo now or wait?
It depends on your situation more than on the market. Sell now if you are selling a condo to buy a house, since a soft market narrows the gap you have to fund; if the carrying cost is straining you, because forced sellers get the worst prices; if your unit is small and undifferentiated in a large tower, since thin listing supply is the best window that type of unit gets; if you need to move for life reasons; or if your building has known problems ahead. Wait if you have no reason to move and the unit carries comfortably, if your unit has a durable advantage like a protected view or scarce square footage, if your horizon is five years or more, or if you bought at the peak and can comfortably hold.
Have Toronto condo prices bottomed?
No one can say that with confidence, and anyone who claims to is guessing. What the July 2026 data shows is that prices have not bottomed but the pace of annual decline has moderated compared with earlier in 2026, and new listings fell 17.8% year over year, which TRREB describes as the market tightening and setting the stage for price stability. Market bottoms are only identifiable in hindsight — by the time it is clear one has passed, prices have moved and competition has returned.
Why is now a reasonable time to sell despite lower prices?
Because listing supply is unusually thin. New listings were down 17.8% year over year in July 2026, which means you are competing against materially fewer comparable listings than a year ago. When confidence returns, the sellers currently waiting on the sidelines come back to the market together — and that competition arrives faster than price recovery does. For an owner with an undifferentiated unit in a large building, thin supply is likely the best selling window available.
Is it better to sell a condo before buying a house in this market?
For most people in a declining market, selling first and buying after removes the largest risk, which is owning two properties or being unable to sell after you have committed to a purchase. The move-up trade itself favours you: you take a smaller reduction on the cheaper asset and a larger one on the more expensive asset, so the gap you have to fund narrows. People who delay this move hoping to sell high frequently find the house they wanted has risen more than their condo did. Structure and timing should be worked out with your lawyer and mortgage professional before you list.
What should I fix before selling my condo?
Fix the things that cause buyers to deduct or walk, then stop. Worn carpet in a living area, a patchwork of different flooring types across one level, an obviously dated bathroom, and visible deferred maintenance all cost more than they take to correct. Renovation rarely returns its full cost as a line item, so the goal is to remove objections rather than add features. Declutter, depersonalise and get professional photography — when buyers have choice they eliminate rather than compete, so anything that gives them a reason to skip your unit is expensive. Also order the status certificate before listing, so any issue in it surfaces on your timeline rather than during a conditional period.
According to the Toronto Regional Real Estate Board’s July 2026 market report, the GTA average selling price was $1,003,956, down 4.5% year over year, and new listings entered into the MLS system totalled 14,484, down 17.8% year over year. Condo apartments averaged $672,807 in the 416 area and $560,923 in the 905. TRREB described the market as tightening in July and setting the stage for price stability, while commentary notes prices have not bottomed although the pace of annual decline has moderated compared with earlier in 2026. Whether an owner should sell now or wait depends on individual circumstances rather than the market alone. Selling now favours owners moving from a condo to a house, since a soft market narrows the price gap being funded; owners whose carrying costs are straining them; owners of small undifferentiated units in large towers, for whom thin listing supply represents the best available window; and owners who need to move for personal reasons. Waiting favours owners with no reason to move whose units carry comfortably, owners of differentiated units with protected views, scarce large floor plans or rapid transit adjacency, owners with horizons of five years or more, and owners who bought at the peak and can hold comfortably. Market bottoms are only identifiable in hindsight.
Sources and further reading
Toronto Regional Real Estate Board, July 2026 market report — GTA average selling price $1,003,956 (down 4.5% year over year), new listings 14,484 (down 17.8% year over year), and TRREB’s characterisation of a tightening market setting the stage for price stability · Canadian Mortgage Professional reporting on GTA condo market conditions, July 2026 — 416 condo apartment average $672,807, 905 average $560,923, and the observation that prices have not bottomed though the pace of decline has moderated. Market data is released monthly and changes; confirm the latest figures with TRREB.
General market commentary prepared August 2026, not investment, tax, legal or financial advice. The figures cited are Toronto Regional Real Estate Board GTA-wide and area-wide averages for July 2026 and do not represent the value of any individual property, building or neighbourhood — obtain a comparative market analysis for your specific unit before making a decision. Market data is released monthly and conditions change. Past performance and current trends do not predict future prices, and nothing here should be read as a forecast or as a call on whether the market has bottomed. Decisions about selling, buying or holding property have significant tax and legal consequences; consult an accountant and a real estate lawyer. Jatin Dua is a Realtor with RE/MAX Quantum Realty and is not a financial advisor, accountant or lawyer.