After decades navigating Toronto’s ever-shifting real estate landscape, I’ve witnessed firsthand how market cycles can catch even the most seasoned owners off guard. Many who purchased at the peak are now facing the reality that comparable sales may not match their original purchase price. If you’re weighing a move, one of the first questions I encourage you to consider is whether selling is truly necessary right now. Sometimes, holding on—perhaps even investing in a thoughtful renovation—makes more sense than accepting a loss and shouldering another land transfer tax. It’s important to remember that selling below your purchase price doesn’t automatically spell mortgage trouble; with sufficient equity, it’s still possible to repay your loan and move forward. Today’s buyers are focused solely on current market value, not past prices, so realistic expectations and an empathetic approach are key in this environment. Having advised clients through ups and downs since 1986, I know how essential it is to set a strategy that reflects both your financial reality and your long-term goals.

In Early-Q3, Toronto sales ↓~1% yearly to ~6K transactions, while new listings ↓~18% to ~14.5K, narrowing the gap between supply and demand.
On a seasonally adjusted basis, Toronto sales increased from Late-Q2 while listings declined, and the avg. selling price settled near $1M, ↓~5% yearly.
A balanced market means neither side clearly leads: homes sell closer to asking, supply better matches demand, and negotiations feel more typical for both parties.
Experts said Toronto's freehold segment looks more balanced, while condos remain buyer-driven. Buyers have adjusted to current borrowing costs, and sellers are pricing more realistically.
With listings shrinking and prices leveling, experts said steadier conditions could bring sidelined buyers back, as confidence improves and timing the market matters less.

After decades immersed in Toronto’s real estate market—first as a corporate lender and now as a broker—it’s always fascinating to watch how market dynamics shift. Recently, the average Toronto area home price dipped just below the $1 million mark, landing around $993,000. That’s roughly a 3% decline year-over-year, easing the path for buyers looking for greater affordability.

Yet, this comes with a trade-off: new listings have dropped about 14% from last year, down to 12,100, leaving fewer properties for buyers to consider. Sales activity also cooled slightly, with just over 5,000 homes sold in the period—about 2% fewer than a year ago. When inventory tightens like this, it’s not unusual to see competition heat up, which can help support prices even as some buyers find it tougher to navigate limited options.

Steady mortgage conditions and encouraging economic headlines have certainly helped some households take the leap. Still, others are weighing concerns about global trade, inflation, and what future borrowing costs might bring. If inventory remains tight and prices inch upward, buyers may start moving more quickly, while improved seller conditions could entice more listings to market.

Having seen many cycles over the years, I know every market presents unique opportunities for both buyers and sellers. The right experience and perspective matter more than ever in times like these.

Toronto enters 2027 after a prolonged correction, with elevated listings continuing to give buyers negotiating room.
TD expects Ontario housing conditions to improve as 2027 progresses, following weakness through 2026.
Lower borrowing costs would support transaction recovery, although condo supply remains an important constraint.
Prices are expected to stabilize before a stronger recovery, rather than returning immediately to rapid pandemic-era growth.

Every August, the Toronto market presents unique opportunities for those looking to break into homeownership—and 2026 is no exception. For buyers who want to make every dollar count, here are August’s most affordable homes, with listings starting at $319,000 and several strong options under $360,000. With decades of experience in both residential and commercial real estate—plus a background in Bay Street lending—I've seen how the right guidance can help clients of all backgrounds secure the right property at the right price. Whether you’re just starting out or looking to add to your portfolio, there’s value to be found on this list. Years of helping clients realize their real estate dreams have taught me that smart, well-timed moves make all the difference. If you’re ready to explore these options, you owe it to yourself to have experience like this in your corner.

Having seen countless cycles in the GTA housing market over the years, I find it fascinating how policy changes can quickly shift buyer sentiment. The recent HST rebate program is a great example—it’s given low-rise new homes a noticeable boost in demand. Builders have responded wisely, keeping a balanced pipeline of new low-rise product, which has helped prevent runaway price increases and kept the market on steadier ground. Meanwhile, the condo sector has struggled to catch the same wave, hampered by construction timing regulations that limit their flexibility.

One important note: while gross prices haven’t changed due to the rebate, qualifying buyers have found meaningful savings, which improves affordability and helps more people achieve homeownership in the GTA. Having worked with buyers and builders from every walk of life—across both residential and commercial real estate—I know firsthand how measures like this can support not just new homeowners, but also the broader economic outlook and job stability. Industry leaders are right to call for more tailored support for condos, so every segment can thrive. If you’re weighing your options in this evolving landscape, perspective and experience matter.