The GTA market just posted its strongest month of the year. Here's what the numbers actually mean if you're buying, selling, or renting out property in Ontario.
6,770 GTA home sales, June | $1,058,658 Average selling price | -5.4% MLS HPI, year-over-year |
The Toronto Regional Real Estate Board (TRREB) reported 6,770 home sales across the Greater Toronto Area in June 2026, up 9.4% from June 2025 and up 1.4% from May on a seasonally adjusted basis. That's the clearest sign yet that the slow start to 2026 is behind us — at least on the demand side.
New listings tell the other half of the story. Only 17,282 new listings hit the market in June, a 12.9% drop from a year earlier, while active listings fell 13.5% year-over-year to 27,329. Buyers have less to choose from than they did last summer, even as more of them are shopping.
A Market That's Quietly Tightening
The sales-to-new-listings ratio — a key gauge of who holds the upper hand — climbed to about 39.2%, up from 37.2% in May and well above the 31.2% recorded a year ago. Months of supply sits around 4.0, tighter than the 5.1 months seen in June 2025, though still within balanced-market territory rather than a full seller's market.
Prices haven't caught up to that tightening yet. The average selling price of $1,058,658 was down 3.9% year-over-year, and the MLS Home Price Index Composite benchmark — which strips out shifts in the mix of homes sold — was down 5.4%. But on a seasonally adjusted month-over-month basis, both measures ticked up slightly from May, and TRREB's chief information officer, Jason Mercer, noted the annual rate of price decline has been receding over the past few months.
TRREB president Daniel Steinfeld called the shift a "marked improvement" following a slow first quarter, and the board expects more buyer competition — and eventually renewed price growth — in the second half of 2026.
Condos vs. Detached: A Widening Gap
Every housing type saw more activity in June, but not equally. Condo sales led the pack, up 14.3% year-over-year, followed by detached homes (+9.1%), townhouses (+4.3%), and semi-detached homes (+3%). Detached homes still anchor the market with 3,256 sales at an average of $1.36 million across the GTA — and $1.65 million within the City of Toronto itself.
Condo prices, meanwhile, are still falling — down roughly 9% year-over-year. That continued softness is actually reshaping affordability: a recent RBC Economics report found Toronto condos are now more affordable relative to income than Montreal condos for the first time in 16 years, with Toronto prices nearly back to late-2019 levels.
How the 905 Compares
| Area | June Sales | Avg. Price |
|---|
| Mississauga | 592 | $1.19M |
| Vaughan | 524 | $1.33M |
| Brampton | 518 | $966,024 |
| Markham | 398 | $1.24M |
| Durham (Whitby) | — | ~$500K |
Durham condos (Oshawa, Pickering) are clustering in the mid-$400,000s — among the most affordable entry points in the region.
What This Means for You
If you're buying Prices are still down year-over-year, but fewer listings and rising competition mean the best deals may not last through the fall. Condos remain the softest segment. | If you're selling Tightening supply is finally working in your favour. TRREB expects renewed price growth in the second half of 2026 as competition among buyers builds. | If you're a landlord Softer condo prices can be a buying opportunity for a rental unit, but factor in still-elevated carrying costs and Ontario's slower overall growth outlook before adding to your portfolio. |
One More Thing to Watch
Toronto City Council also has a fresh tailwind: the Ontario government announced $1.5 billion to help the City of Toronto reduce development charges, a move aimed at bringing down the upfront cost of building new housing. Development charges have been adding meaningfully to purchase and rental prices, so this is worth watching as it works through the pipeline over the coming months.
Zoom out further and the picture is mixed: Ontario's overall economy is projected to be among the slower-growing provinces in 2026, weighed down by tariff exposure and a shrinking population. Housing activity picking up in Toronto doesn't mean the broader provincial economy is off to the races — it means real estate is recovering faster than everything else around it.
This article is for general informational purposes only and is not financial, investment, or real estate advice. Data sourced from TRREB, CREA, and RBC Economics. Always consult a licensed real estate professional or financial advisor before making a property decision.
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