The Toronto real estate market saw fewer homes listed for sale in August 2026 compared to last year. With less inventory available, sales also dipped slightly as buyers had fewer options in some neighbourhoods.
According to the Toronto Regional Real Estate Board, 5,057 homes were sold in August, down 2.1% from August 2025. Meanwhile, 12,075 new listings came onto the market, a 14.1% decrease from last year.
“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. “At the same time, improving market conditions for sellers could bring more listings to market, providing buyers with additional choice.”
Home Prices Remain Below Last Year
The average selling price in August was $993,410, down 2.7% from August 2025. The MLS Home Price Index benchmark was also down 4.5% year-over-year.
However, prices were relatively stable compared with July, with the benchmark essentially unchanged and the average selling price edging higher.
“Ownership housing in the GTA has remained relatively affordable over the past year, with average prices dipping and mortgage rates remaining somewhat flat,” said TRREB Chief Information Officer Jason Mercer.
What This Means for Buyers and Sellers
For buyers, the market continues to offer opportunities, but fewer listings could lead to increased competition if demand picks up. Sellers, meanwhile, may benefit from having less competition from other properties coming onto the market.
The Toronto and GTA markets remain in a period of transition, with affordability, mortgage rates and the broader economy continuing to influence decisions.
For now, fewer listings, slightly lower sales and relatively stable prices are the key trends to watch as we move into the fall market.
Stay tuned to see how the summer real estate market closes out. Contact me if you have any questions!