The Toronto housing market tightened in July 2026 compared with the same month last year. Home sales edged lower, while new listings fell substantially, creating more competition among buyers.
“While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected. The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall,” said TRREB Chief Information Officer Jason Mercer.
There was a reported 5,995 home sales in July according to TRREB, down 0.9% from July 2025. New listings totaled 14,484, a 17.8% year-over-year decline.
On a seasonally adjusted basis, sales increased from June while new listings declined, indicating that market conditions continued to tighten through the summer.
The average selling price was $1,003,956, down 4.5% from a year earlier. The seasonally adjusted MLS HPI Composite edged higher from June, while the average selling price was slightly lower.
“Removing remaining municipal roadblocks to attainable housing is a pressing issue in Toronto and Simcoe County. Restrictive zoning, outdated rules, high taxes and fees, and approval delays are making housing more expensive and are key issues in the upcoming municipal election. They add tens of thousands of dollars to the cost of every home and need to be reformed,” said TRREB CEO John DiMichele.
Stay tuned to see how the summer housing market wraps up. Contact me if you have any questions.