Toronto Home Prices Drop 4.5 Percent in July 2026

The Greater Toronto Area housing market cooled in July 2026, ending a four-month period of year-over-year gains. The Toronto Regional Real Estate Board reported that 5,995 homes were sold during the month, a 0.9 percent decrease compared to July 2025, although sales increased 3.2 percent from June on a seasonally adjusted basis.

Financial indicators showed a decline in value, with the average selling price dropping 4.5 percent year-over-year to $1,003,956. The composite benchmark price also fell by 4.6 percent. Supply levels tightened significantly, as total active listings decreased 12.1 percent to 26,098, and new listings fell 17.8 percent compared to the previous year.

Daniel Steinfeld, president of the board, observed that sales now account for a larger share of available listings. He noted that as a result, buyers "may find there is less room to negotiate moving forward."