GTA home sales down 2% in August, prices dip below $1 million: board
By Sammy Hudes
Home sales in the Greater Toronto Area were down in August compared with a year ago as prices also continued to fall.
The Toronto Regional Real Estate Board said 5,057 homes changed hands last month, down 2.1% year-over-year, while sales also fell 1.3% from July on a seasonally adjusted basis.
The average selling price stood at $993,410, down 2.7% year-over-year, while the composite benchmark price, meant to represent the typical home, was down 4.5%.
It’s the second time this year that the average selling price has dipped below the $1-million level, after January marked the first instance of that happening in five years.
There were 12,075 new listings on the market in August, down 14.1% from last year.
Inventory fell 11.3% as there were 24,482 total active listings in the GTA.
“If inventory tightens and home prices begin to rise, some buyers may face a trade-off between waiting for greater economic certainty and purchasing before prices move higher,” said TRREB president Daniel Steinfeld in a news release.
“At the same time, improving market conditions for sellers could bring more listings to market, providing buyers with additional choice.”
Within the City of Toronto, TRREB said there were 1,767 sales last month, down 0.2% from August 2025. Across the rest of the GTA, home sales decreased 3.1% to 3,290.
Townhouses saw the biggest drop in activity among all housing types, with 9.5% fewer sales year-over-year. There were also 2.6% fewer condos sold last month compared with a year ago.
Both the semi-detached and detached home markets experienced slight growth year-over-year, with 0.9% and 0.5% more sales, respectively.
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Last modified: September 3, 2026
