The Monthly Mo  ·  August 2026  ·  Vol. 47

July's Numbers,
In Sixty Seconds

The GTA market got tighter last month. Here is the twist: sellers made it happen, not buyers.

Source: TRREB Market Watch, July 2026 Released: August 6, 2026 Read time: 3 minutes
The Short Version

Three things that mattered in July

🚫

Sellers walked

New listings fell 17.8%, the steepest drop of 2026. Sales were flat. The tightening came entirely from the supply side.

📉

Prices slipped

The average sale hit $1,003,956, down 4.5% from last July and the lowest monthly average since January.

🏢

Condos steadied

Down just 2.3% after a year of double digit declines. First time buyers are back in the entry level market.

📊 The Numbers

July 2026 at a glance

Year over year unless noted.

$1,003,956
4.5%
Average sale price
5,995
0.9%
Homes sold
14,484
17.8%
New listings
26,098
12.1%
Active listings
45 days
from 40
Total days on market
4.6
from 4.7
Months of inventory

📈 GTA average price, month by month

All home types, all TRREB areas · January to July 2026
$1.10M $1.05M $1.00M $950K $1,069,700 $1,003,956 2026 peak JanFebMar AprMayJun Jul
What it shows: prices climbed steadily from January to a May peak, then gave most of it back over two months. July is a historically quiet month and monthly averages swing with the mix of homes that sell, so read this alongside the benchmark, which was down 4.6% year over year but edged up from June once seasonally adjusted.

🚫 Supply collapsed. Demand did not move.

New listings versus sales · April to July 2026
05K 10K15K 17,09717,698 17,28214,484 5,9466,574 6,7705,995 AprilMay JuneJuly
New listings July new listings Sales
What it shows: nearly 2,800 fewer homes came to market in July than in June, while sales barely budged. That is why months of inventory fell. A market tightened by disappearing sellers behaves very differently from one tightened by competing buyers.

🏠 Where the price pressure landed

Average price change, July 2026 versus July 2025
Semi Detached Detached Townhouse Condo Apartment −7.4% −5.0% −3.9% −2.3% Smallest decline of any type
What it shows: the pressure has moved up the ladder. Condos, which carried the correction for two years, are now the steadiest segment. Semi detached fell furthest, close to 10% inside the City of Toronto, though TRREB attributes much of that to fewer high end semis trading this year.
🎯 So What Do You Do

Your move, in four lines

🔑

If you are buying

  • You still have leverage. Homes take 45 days to sell and close at about 97% of the latest asking price.
  • Your choice is shrinking. Active listings down 12.1% and falling. Get financing settled now so you can move when the right one appears.
🏷

If you are selling

  • Competition is the thinnest in years. Almost 18% fewer homes came to market than last July.
  • Spring comparables will hurt you. Price to July closings and to what is actively competing with you, not to April.
💰 Rate Watch

Where borrowing costs sit

The Bank of Canada held at 2.25% on July 15, its sixth consecutive hold. Next decision comes in September.

2.25%
Bank of Canada overnight rate · held since March
~3.9%
Sharpest advertised 5 year fixed, early August
~3.4%
Sharpest advertised 5 year variable, early August
⏰ Renewing within six months? Now is the time to run the numbers, not the week your term expires. Reply to this email or call us and we will connect you with a broker who will actually shop it.
🔨 Late Summer Checklist

Five jobs worth doing this month

🔥Book the furnace serviceWide open in August. Booked solid in October.
🍂Clear the guttersDo it before the leaves drop and do it once more in November.
🛠Seal driveway cracksWater in before the first freeze is next spring's repair bill.
🏭Check attic and weatherstrippingThe cheapest heating bill reduction available.
📷Photograph the exteriorAugust greenery beats anything you shoot in November.

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, and commentary from TRREB President Daniel Steinfeld and Chief Information Officer Jason Mercer). Monthly price and listing series January to June 2026 from the corresponding TRREB Market Watch releases. Bank of Canada policy interest rate announcement, July 15, 2026. Mortgage rates reflect nationally advertised rates as of early August 2026 and are not an offer of credit. All market figures cover all TRREB areas and all home types combined unless noted.

What does July mean for your street?

Region wide averages hide a lot, and this month they hide more than usual. Tell us your address and your timeline. We will send you the real numbers for your block.

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