The Greater Toronto Area market has shown some cooling signs in early Q3, with home sales coming in around 6,000—down about 1% year-over-year after several months of gains. Month-over-month, activity actually picked up by roughly 3%. The average selling price hovered near $1 million, and the benchmark price for a typical home dropped nearly 5% compared to last year. That means buyers are still able to negotiate across much of the GTA. Looking at specific housing types, detached home sales rose about 1% year-over-year, but semi-detached, townhouses, and condo apartments saw either slight declines or remained flat. One of the more notable shifts is on the supply side: new listings fell to approximately 14,500, a decrease of 18% from last year, and active listings dropped 12% to about 26,100. With fewer new options hitting the market, and sales taking up a greater share of what's available, we could see less room for negotiation as inventory tightens—potentially setting the stage for more balanced conditions if confidence returns. Having spent over a decade helping buyers and sellers navigate the GTA market, I know how quickly these shifts can affect your next move. Staying informed makes all the difference.
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