GTA Real Estate Market Update: Inside TRREB's July 2026 Numbers

The Toronto Regional Real Estate Board (TRREB) released its July 2026 Market Watch on August 6, and the headline number isn't the one that matters most. Sales came in at 5,995, a slight 0.9% dip from July 2025. The real story is on the supply side: new listings dropped 17.8% year over year to 14,484, and active listings fell 12.1% to 26,098.

That combination, steady demand against shrinking supply, is what TRREB describes as tightening market conditions. The board's report says active homebuyers faced more competition in July than a year earlier, and that if the trend continues, average selling prices could level off in the second half of 2026.

Supply Is Shrinking Faster Than Demand

A 0.9% sales decline is statistical noise. A 17.8% drop in new listings is not. Sellers pulled back sharply in July, and the pool of active listings shrank by more than 3,600 homes compared with a year earlier.

On a seasonally adjusted basis, the report notes that July sales were actually up month over month compared with June, while new listings were down again. Both moves point the same direction: the buyer's-market conditions that defined the past year are being worked off, one month at a time.

Homes are still taking longer to sell than they did a year ago. Average listing days on market rose to 32 from 30, and average property days on market (which counts relistings) climbed to 45 from 40. Sellers received 97% of their list price on average. So this is a tightening market, not yet a hot one.

Prices Are Still Lower Than Last Year, for Every Home Type

The average GTA selling price of $1,003,956 was down 4.5% from July 2025's $1,051,600, and the MLS Home Price Index Composite benchmark fell a similar 4.6%. The median sale price across all TRREB areas was $860,000. Within the City of Toronto, the average was $1,010,836 and the median was $800,000.

Every major home type posted an annual price decline in July:

Year to date, 37,105 homes have changed hands across the GTA at an average price of $1,032,207. July's average sits below that, so the softness hasn't fully washed out of the numbers yet. TRREB President Daniel Steinfeld put it plainly in the report: with sales accounting for a larger share of listings, buyers may find there's less room to negotiate moving forward.

Where Your Dollar Goes Furthest in the GTA

The regional spread remains wide. Durham Region was the most affordable part of the GTA in July with an average price of $834,312, while Halton Region topped the chart at $1,151,595. York Region averaged $1,146,307, Peel came in at $910,007, and the City of Toronto sat just above the million mark.

Condo apartments remain the GTA's entry point at an average of $636,323, and they held their value better than any other home type in July, down just 2.3% year over year.

What This Means If You're Buying or Selling

For buyers, the window of maximum choice appears to be closing. There are still 26,098 active listings across the GTA, real selection by any measure, but that's 12.1% fewer than last July, and prices are down 4.5% from a year ago. Waiting for further price drops is a bet against TRREB's own read, which is that prices could level off later this year if tightening continues.

For sellers, the calculus is improving but hasn't flipped. Homes averaged 32 days on market and sold for 97% of list. Price to the current market and presentation still matters, because buyers retain enough choice to skip over anything overpriced or poorly shown.

TRREB's leadership also flagged a longer-term issue: restrictive zoning, high taxes and fees, and approval delays add tens of thousands of dollars to the cost of every home in the GTA and Simcoe County. Supply policy, not just rates, will shape where this market goes next.