Builder incentives and government tax relief have boosted single-family home sales in the GTA, despite an 8.5% year-over-year price drop. Expanded tax rebates and builder price cuts offer savings unmatched by resale homes, which aren't subject to HST. However, new condo sales remain low due to stricter rebate eligibility. Buyers are advised to automate savings, use tax-advantaged accounts, manage debt, budget for extra costs, and explore various local programs for better affordability.

Toronto has launched an AI-powered online tool called Building Permit Application Pre-Check to help applicants identify issues in eligible building permit applications before submission. The tool provides real-time feedback on missing or inconsistent information and certain zoning or building code issues. It is voluntary, currently covers small residential projects, and aims to reduce resubmissions and speed up reviews. The pilot will run for one year.

In August 2026, the median sale price for all residential properties in the City of Toronto dropped 4% compared to last year. This shift means buyers may find more affordable options and better value in today’s market. If you’ve been waiting for a window to enter Toronto real estate, now could be your chance.

Toronto is giving buyers more negotiating power, with roughly six months of inventory, 35 days on market and 9,627 active listings. Across the GTA, sales declined 2.1% year over year, while new listings fell 14.1% and active listings dropped 11.3%. That combination points to a market where choice remains available, but supply is also tightening. Over the next 60 days, pending sales and listing absorption will help reveal whether demand is strengthening. Buyers should compare options carefully and negotiate strategically, while sellers need precise pricing and strong presentation to stand out. Local guidance can turn these signals into a practical plan.

After decades spent immersed in the ever-evolving GTA real estate market, I’ve rarely seen a story quite like this one. Single-family home sales have surged an impressive 50% above average, reaching 781 units—undoubtedly helped along by the recent expansion of the HST rebate. Meanwhile, the condo segment tells a different tale: sales have dropped a striking 80% below average, with only 237 units changing hands. Interestingly, despite this divergence, single-family home prices have adjusted downward by 8.5% to $1.36M, while condo prices have actually edged up 2.5% to $1.05M. With inventory now standing at 18,546 units, there is clearly a dynamic shift underway. Having spent years both financing major development projects and guiding clients—first-time buyers and seasoned investors alike—through every sort of market, I know these numbers are more than just statistics: they’re signals. Navigating them requires an eye for opportunity and a steady hand on the wheel.

GTA condo sales have made a notable jump of 8.8% in Q2 2026, even as both new and active listings declined by 19.0% and 15.4%. Average prices slipped 7.5% to $634,972—an adjustment that’s caught the eye of more buyers and made entry into the condo market noticeably more accessible. This renewed affordability has brought a welcome surge in activity, and if current trends hold, it’s possible we’ll see a stabilization in prices as we move into 2027. Having navigated the GTA market through many cycles—first on the lending side, then as a Broker—I’ve seen these shifts up close. The key is not just watching the numbers, but understanding what they mean for your next steps, whether you’re buying, selling, or investing. After decades of helping clients make sense of these movements, I know firsthand how the right guidance can turn real estate goals into reality.