GLOPRAGlobal Property Radar

Toronto home sales fall 9% as the average price drops to CAD 1,006,409

Greater Toronto sales fell 9% in September and the year-on-year change in the average price was -5.1%, to CAD 1,006,409: cheaper for a buyer, slower for a seller.

The facts

  • The Toronto Regional Real Estate Board recorded 5,040 sales through its MLS System in September 2026, down 9% from 5,540 in September 2025.
  • The average selling price changed by -5.1% year on year, to CAD 1,006,409 from CAD 1,060,036; the median was CAD 860,000.
  • The MLS Home Price Index composite benchmark was down 4.7% year on year.
  • New listings fell 14.4% to 16,500 and active listings fell 9.3% to 26,131; the board's trend measure of months of inventory stood at 4.6.
  • Homes took an average 34 days to sell on their current listing, against 33 days a year earlier, and sold at an average 98% of the asking price.
  • A condo apartment changed hands at an average CAD 605,257, against CAD 1,292,016 for a detached house.

What it means for your money

  • For a buyer, entry is 5.1% cheaper than last September. The MLS composite benchmark, a separate measure, is down 4.7%.
  • Purchase by non-Canadians is prohibited until 1 January 2027, with exceptions that include property outside a census metropolitan area or census agglomeration, vacant land and purchase for development, according to Glopra's Canada data.
  • Rental income carries 20.72% under the section 216 net-basis election, against a 25% withholding on the gross rent without it, according to Glopra's Canada data.
  • Resale is slower, not faster. Sales down 9%, a benchmark down 4.7% and 4.6 months of inventory all point against a seller who has to move quickly, and homes still closed at an average 98% of the asking price.

What to watch

  • The prohibition on purchase by non-Canadians runs to 1 January 2027; whether it is extended again is what decides who may buy after that date.
  • The board's next monthly release is the reading that shows whether the price fall is levelling off or steepening.

Sources: Toronto Regional Real Estate Board news release, September 2026, published 6 October 2026 https://trreb.ca/wp-content/files/news_releases/news2026/nr_market_watch_0926.pdf; Toronto Regional Real Estate Board Market Watch full report, September 2026 https://trreb.ca/wp-content/files/market-stats/market-watch/mw2609.pdf

Market data: Canada