Category: Latest Posts

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.

Toronto housing starts ↓10% yearly versus the previous year, a clear sign construction activity moderated in the city's larger urban market during current tracking.
Toronto was tracking 37 building permits tied to 6.6K condominium apartment units where construction had not yet begun in the current pipeline.
The agency said some pending projects could still move forward, because related pre-sales likely happened much earlier than the current reduction in sales activity.
Housing-start data can lag current conditions, because large Toronto projects move through planning and pre-sale phases, permit issuance, then actual construction before starts appear.
That means Toronto's current starts may understate real-time activity, and some permitted condo units could still break ground as the pending pipeline advances.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.

CMHC expects Toronto sales to increase in 2026, even while prices remain below recent peaks.
Here’s the overlooked part: today’s abundant inventory could give patient buyers more choice and negotiating room.
Royal LePage expects GTA prices to decline 2% by Q4 2026, while activity continues building.
The bigger opportunity may be buying when competition is quiet—not perfectly predicting the market’s bottom.

In Late-Q2 2026, Toronto saw one of the strongest affordability gains as falling home prices, not easier financing, became the main driver.
Toronto recorded a ~2.5-point affordability improvement after its representative home price fell ~4% during the quarter, leaving the payment-to-income ratio near 68%.
In Toronto, the shift from rate-driven to price-driven gains was especially clear, highlighting how softer prices recently improved buying conditions more than mortgage rates.
For Toronto buyers, mortgage rates were not expected to deliver much additional relief over the next year, making other affordability supports increasingly important.
In Toronto, further affordability improvement increasingly depended on income growth and restrained home-price appreciation, as financing costs were no longer expected to help.