GTA at a glance
July tightened, but not the way anyone expected. Sales were almost flat, down 0.9% year over year, while new listings fell 17.8%, the steepest annual drop of the year. The market got tighter because sellers stepped back, not because buyers piled in. The average price slipped to $1,003,956, down 4.5% from last July and the lowest monthly average since January.
The MLS® Home Price Index Composite benchmark was down 4.6% year over year, a slightly smaller decline than June's 5.4%. On a seasonally adjusted basis the HPI actually edged up from June, while the raw average price fell. Months of inventory eased from 4.7 to 4.6, and the average sale closed at about 97% of the latest asking price. The Bank of Canada held its overnight rate at 2.25% on July 15, its sixth consecutive hold, with the next decision due in September.
📈 GTA average price, month by month
🚫 Supply collapsed. Demand did not move.
🏠 Where the price pressure landed
What this means for you
Buyers: You still hold the leverage. Homes are taking 45 total days to sell, up from 40 last year, and the average sale closes about 3% below the latest asking price. There is a real caution though: active listings are down 12.1% and falling. Selection is thinning faster than prices are.
Sellers: Competition is the lightest it has been in years, with new listings down almost 18%. That is the good news. The harder news is that spring comparables now overstate today's price. Price to July closings and to what is actually competing with you, not to what the neighbour listed at in April.
Investors and first time buyers: Condos are the story shift this month. After a year of double digit declines, condo prices were down only 2.3% and sales were essentially flat. TRREB credits first time buyers stepping back in as borrowing costs and condo prices have both come down. The segment that fell hardest is the first one steadying.
Recent monthly recaps
A quick scan of the last few months. For the full story behind each month, see the corresponding newsletter.
July 2026 Numbers Recap
Sales down 0.9% year over year, new listings down 17.8%, average price $1,003,956. The market tightened because sellers pulled back, not because buyers rushed in.
June 2026 Numbers Recap
Sales up 9.4% year over year, new listings down 12.9%, average price $1,058,658. TRREB calls 2026 a year of two halves with a stronger finish expected.
February 2026 Numbers Recap
GTA average price $1.01M, sales down 4%, listings down 11% year over year. Market leaned balanced to buyer friendly. Plus spring maintenance tips.
January 2026 Numbers Recap
Sales down roughly 20% year over year as buyers waited for rate clarity. Featured listing: 4326 Waterford Cres, Mississauga.
2025 Year in Review
Approximately 62,000 GTA transactions in 2025, roughly 34% below the long run normal of 93,000. Plus welcome to Ghada Farah on the team.
Sources: TRREB Market Watch, July 2026, news release dated August 6, 2026 (sales, new listings, active listings, average price, MLS® HPI, months of inventory, days on market, property type breakdown). Bank of Canada policy interest rate announcement, July 15, 2026. All figures are for all TRREB areas and all home types combined unless noted.
What the numbers actually mean
Every month we publish a short plain language piece explaining what moved, what did not, and what it means for your decision.
The GTA Market Got Tighter in July. Sellers Made It Happen.
New listings fell 17.8% while sales held flat, the strongest tightening signal of the year. Here is what that does to your negotiating position.
A Year of Two Halves: What June's Numbers Tell Us About the Rest of 2026
Where the first half of the year landed, and the three things that decide how the second half plays out.