The Greater Toronto Area (GTA) housing market continued to tighten in August 2026 as fewer homes came onto the market compared with a year ago.
GTA REALTORS® reported 5,057 home sales, down 2.1% year over year, while new listings fell 14.1% to 12,075. The larger decline in new listings suggests that reduced inventory may be limiting buyer choice in some neighbourhoods.
Home prices remain below last year's levels, with the average selling price at $993,410, down 2.7% year over year. The MLS® HPI Composite benchmark declined 4.5%.
However, the month-over-month trend is beginning to change. On a seasonally adjusted basis, the MLS® HPI Composite was essentially flat from July, while the average selling price edged higher.
What This Means
Buyers continue to benefit from improved affordability, but fewer available homes could mean more competition if demand strengthens through the fall.
For sellers, tighter inventory may create more favourable conditions for well-priced properties.
The GTA market is not yet in a full recovery, but the combination of declining inventory and slowing price declines is worth watching closely as we move into the final months of 2026.
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