What is happening in the GTA housing market?

TRREB reported 5,057 home sales through its MLS® System in August 2026, down 2.1% from August 2025. New listings totalled 12,075, down 14.1% year over year.

The average GTA selling price was $993,410 in August 2026, down 2.7% year over year. TRREB also reported that the MLS® Home Price Index Composite benchmark was down 4.5% year over year. On a seasonally adjusted month-over-month basis, the HPI Composite was essentially flat compared with July, while the average selling price edged higher.

TRREB noted that the number of homes available for sale was noticeably lower than a year earlier. The board said less choice and greater competition between buyers could ultimately contribute to renewed price growth in the months ahead. This is a potential outcome, not a certainty, and conditions can differ significantly by neighbourhood and property type.

Why expand a home search across Southern Ontario?

There is no single Southern Ontario housing market. A detached home in one municipality should not automatically be compared with a condominium or townhouse in another based only on purchase price.

Buyers should consider what they are receiving for their budget: property type and usable space, lot and outdoor space, age and condition, property taxes and other carrying costs, condominium fees where applicable, commuting and transportation, schools and amenities, and future housing needs.

Southern Ontario markets buyers may want to explore

Hamilton

Hamilton offers a wide range of neighbourhoods and housing types and can be considered by buyers who want access to a major Southern Ontario city while remaining connected to the Greater Toronto and Hamilton Area. Buyers should compare specific neighbourhoods, property types, transportation needs and current local market conditions. Browse Hamilton homes for sale

Kitchener-Waterloo

Kitchener-Waterloo has its own employment centres, educational institutions, neighbourhoods and housing market. Buyers should evaluate Kitchener and Waterloo individually and compare the area with their employment, lifestyle and housing requirements. Browse Kitchener homes for sale · Browse Waterloo homes for sale

Cambridge

Cambridge may be included in a broader Kitchener-Waterloo-Cambridge search. For buyers with geographic flexibility, widening the search may reveal different combinations of housing types, neighbourhood characteristics and space. Transportation and employment location should be considered alongside price. Browse Cambridge homes for sale

Mississauga: a GTA comparison point

Mississauga is part of the GTA, so it should not be described as a market “beyond the GTA.” It can, however, serve as a useful comparison point for buyers deciding whether to remain in the GTA or widen their search farther into Southern Ontario. Buyers should compare property type, neighbourhood, transportation needs and current local conditions. Browse Mississauga homes for sale

Burlington and Halton Region

Buyers who want to remain closer to the western GTA may also consider Burlington and other Halton communities. Local municipality and property-type data should be reviewed because regional averages can hide meaningful differences. Browse Burlington homes for sale

Detached home or condo? Property type can change the search

TRREB's August 2026 report shows substantial differences between GTA property types. Detached homes recorded 2,399 sales at an average price of $1,288,669. Semi-detached homes recorded 395 sales at an average price of $882,060. Townhouses recorded 439 sales at an average price of $931,665. Condo apartments recorded 1,330 sales at an average price of $617,593.

This raises an important buyer question: would you rather change location or change property type? A condominium closer to work may suit one household better than a larger home requiring a longer commute. Another household may prioritize bedrooms, outdoor space or a different community. The right decision depends on the buyer’s finances and needs.

Is it better to buy outside the GTA?

Not automatically. Buying outside the GTA should not be treated as a guaranteed way to save money. A lower purchase price can be attractive, but buyers also need to consider property taxes, maintenance, transportation, commuting expenses, condominium fees where applicable and lifestyle.

For someone working remotely, geographic flexibility may be particularly valuable. For someone travelling into Toronto frequently, commute time and transportation costs may carry more weight. Buyers should compare the total homeownership picture rather than listing prices alone.

What should you compare before choosing a city?

Use the same criteria for every community you are considering. Establish a maximum purchase budget, minimum number of bedrooms, preferred property type, acceptable commute, required amenities and other non-negotiables.

For illustration, a hypothetical household might set an $800,000 maximum purchase budget, require three bedrooms, prefer a townhouse or detached home, set a maximum acceptable commute and prioritize outdoor space and highway access. The same criteria can then be used to compare different Southern Ontario communities more meaningfully.

What does lower GTA inventory mean for buyers?

TRREB reported 24,482 active listings in August 2026 compared with 27,594 in August 2025, an 11.3% year-over-year decline. This does not mean every neighbourhood is experiencing the same conditions.

TRREB said reduced choice and increased competition between buyers could ultimately result in renewed price growth if inventory tightens. Buyers should therefore pay attention to current inventory and comparable sales in the specific neighbourhood and property segment they are considering rather than relying only on GTA-wide averages.

Source: Toronto Regional Real Estate Board (TRREB), Market Watch — August 2026.

Frequently asked questions

Browse Homes Across Our Service Areas

Royal Canadian Realty lists and helps buyers search homes for sale across the GTA and into Southern Ontario. Start your search in any of these communities:

• Toronto
• Mississauga
• Brampton
• Vaughan
• Markham
• Richmond Hill
• Durham Region
• Hamilton
• Burlington
• Cambridge
• Kitchener
• Waterloo