The Monthly Mo  ·  September 2026  ·  Vol. 48

August's Numbers,
In Sixty Seconds

Prices barely moved. What moved was the number of homes on the shelf, for the third month in a row.

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

Three things that mattered in August

🚫

Supply kept leaving

New listings fell 14.1% and active listings 11.3%, while sales fell only 2.1%. Third straight month of the same gap.

⚖️

Prices flattened

The average sale was $993,410, down 2.7% year over year but up slightly from July. The benchmark was flat month over month.

🏠

Townhouses took the hit

Down 8.6% on price and 9.5% on sales, the softest segment in the region. Detached was down just 1.8%.

📊 The Numbers

August 2026 at a glance

Year over year unless noted.

$993,410
2.7%
Average sale price
5,057
2.1%
Homes sold
12,075
14.1%
New listings
24,482
11.3%
Active listings
35 days
from 33
Average listing days on market
$850,000
half sold above
Median sale price

📈 GTA average price, month by month

All home types, all TRREB areas · January to August 2026
$1.10M $1.05M $1.00M $950K $1,069,700 $993,410 2026 peak JanFebMar AprMayJun JulAug
What it shows: the slide that started after May has flattened. August is the lowest monthly average of 2026, but the drop from July was small, and the MLS Home Price Index benchmark was essentially unchanged month over month once seasonally adjusted. Monthly averages swing with the mix of homes that sell, so read the two together.

🚫 Three months of one way traffic

New listings versus sales · May to August 2026
05K 10K15K 17,69817,282 14,48412,075 6,5746,770 5,9955,057 MayJune JulyAugust
New listings August new listings Sales
What it shows: new listings are roughly 5,600 below the May peak. Peel Region alone had 671 fewer new listings than last August, down 22.6%, and Halton was down 24.6%. About 42% of the month's new listings sold, which keeps the GTA in balanced territory.

🏠 Where the price pressure landed

Average price change, August 2026 versus August 2025
Townhouse Semi Detached Condo Apartment Detached $786,817 $931,665 $617,593 $1,288,669 −8.6% −5.0% −3.6% −1.8% Smallest decline of any type
What it shows: the ranking flipped from July, when semi detached led the declines. Single month readings by property type move on sales mix as much as on value, which is why the benchmark matters: the HPI Composite was down 4.5% year over year and flat versus July.
🎯 So What Do You Do

Your move, in four lines

🔑

If you are buying

  • Your discount is holding. Sales are closing at about 97% of the latest asking price, and homes take 51 total days from first listing to sold.
  • Your choice is not. Active listings are down 11.3% and have fallen three months running. Settle financing now so a good listing does not pass you.
🏷

If you are selling

  • Competition is the thinnest in years. 14.1% fewer homes came to market than last August, and the drop was steepest in Peel and Halton.
  • That is not permission to price to 2025. The average is still 2.7% below last year. Price to what closed on your street in August.
💰 Rate Watch

Where borrowing costs sit

The Bank of Canada held at 2.25% on September 2, its seventh consecutive hold, and flagged upside risks to inflation from tariffs and energy prices. Next decision: October 28.

2.25%
Bank of Canada overnight rate · unchanged since October 2025
~3.99%
Typical discounted 5 year fixed for a well qualified buyer
~4.05%
Typical discounted 5 year variable
⏰ Renewing in the next six months? The Bank warned that a hike is back on the table if inflation runs hot. That makes this a good month to price out your options rather than 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.
🔨 Fall Checklist

Five jobs worth doing this month

🔥Service the furnace nowSeptember bookings are easy. October ones are not.
🍂First gutter cleanDo one before the leaves drop and one after they finish.
💧Shut off outdoor tapsDrain the lines before the first hard frost, not after.
🏭Reverse the ceiling fansClockwise pushes warm air down. Free comfort.
📷Shoot the exteriorFall colour photographs better than anything in November.

Sources: TRREB Market Watch, August 2026, news release dated September 3, 2026 (sales, new listings, active listings, average price, median price, MLS® HPI Composite, listing and property days on market, property type and regional breakdowns, and commentary from TRREB President Daniel Steinfeld and Chief Information Officer Jason Mercer). Monthly price and listing series January to July 2026 from the corresponding TRREB Market Watch releases. Sales to new listings ratio calculated from reported TRREB figures. Bank of Canada policy interest rate announcement, September 2, 2026. Mortgage rates shown are typical discounted rates maintained on morealtyteam.com as of early September 2026, are a guide only, and are not an offer of credit. All market figures cover all TRREB areas and all home types combined unless noted.

What does August mean for your street?

Regional averages spanned nine percentage points this month, from York at down 0.3% to Simcoe at down 9.1%. Tell us your address and your timeline. We will send you the real numbers for your block.

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