GTA Market Watch: September 2026
GTA Market Watch: September 2026
GTA sales, new listings and prices were all lower than a year earlier in September. The market remained highly dependent on property type and location, with some meaningful differences between the City of Toronto and the surrounding 905.
TRREB reported 5,040 GTA home sales in September 2026, down 9.0% from September 2025.
New listings fell even more sharply, while both TRREB's average selling price and MLS® Home Price Index Composite remained below year-ago levels.
The useful question is not whether one headline number was up or down. It is what sales, listings and prices say together, and whether those GTA-wide figures actually describe the type of property you are looking at.
GTA at a glance
These are GTA-wide TRREB figures. They are not Hamilton statistics, they are not Ontario-wide statistics, and they should not be treated as the result for every municipality, neighbourhood or property type inside the GTA.
Sales slowed, but new listings fell even faster
The GTA recorded 5,040 residential sales in September, down 9.0% from September 2025.
New listings totalled 16,500, which was 14.4% below the same month last year.
That matters because lower sales do not automatically mean supply is building at the same pace. New properties entering the market also pulled back.
TRREB reported that, on a seasonally adjusted basis, both sales and new listings moved lower from August.
The average price and HPI both remained below last year
The GTA average selling price was $1,006,409 in September, down 5.1% from September 2025.
TRREB's MLS® HPI Composite benchmark was down 4.7% year over year.
TRREB also reported that both measures edged lower month over month on a seasonally adjusted basis.
Average selling price
The arithmetic average of the homes that sold during the reporting period. It can shift when the mix of properties changing hands changes.
MLS® HPI Composite
A benchmark designed to track price movement for a typical home with defined characteristics. It is not the same calculation as the average.
Property type still changes the picture
The GTA-wide average combines very different types of housing. September's report shows how far apart those segments can be.
Detached homes
$1,292,0162,399 detached homes sold across the GTA in September. Detached properties remained the highest-volume major housing type.
Semi-detached homes
$1,015,202459 semi-detached homes sold. Their average selling price was much closer to last year's level than several other major segments.
Condo apartments
$605,2571,316 condo apartments sold across the GTA. This segment remained materially less expensive than the freehold categories.
Do not blend unlike properties
TRREB reports attached/row townhouses and condominium townhouses separately in its detailed tables. Property type matters before a city-wide average is used to interpret a specific purchase or sale.
The 416 and 905 were not the same market
GTA statistics combine the City of Toronto with surrounding municipalities. Looking at the same property type on each side of that split shows why the distinction matters.
640 detached sales in September.
1,759 detached sales in September.
884 condo-apartment sales in September.
432 condo-apartment sales in September.
A GTA headline should not be translated directly into a Toronto, Mississauga, Vaughan, Oakville or other local property conclusion. The relevant municipality, neighbourhood and housing type still matter.
What September means for buyers and sellers
For buyers
Lower year-over-year prices and slower sales can create negotiating opportunities in parts of the GTA, but leverage is property-specific. Compare the actual local competition before assuming the regional numbers apply to the home you want.
For sellers
With fewer transactions than a year ago, current comparable sales and competing listings matter. The correct benchmark is the segment and location buyers are actually comparing with your property.
September's numbers show caution, not a forecast
TRREB described buyers as being in a holding pattern and pointed to economic, inflation and borrowing-cost uncertainty as factors weighing on activity.
That explains TRREB's interpretation of the September data. It does not tell us exactly what sales, prices or mortgage rates will do next.
The practical use of Market Watch is to understand the market that already occurred, then narrow that evidence to the municipality, property type and specific home involved in the decision.
GTA housing market FAQ for September 2026
How many homes sold in the GTA in September 2026?
TRREB reported 5,040 residential sales, down 9.0% from September 2025.
What was the average GTA selling price?
The average selling price was $1,006,409, down 5.1% year over year.
What happened to the GTA MLS® HPI?
TRREB's MLS® HPI Composite benchmark was 4.7% below September 2025.
Is the GTA average the same as the City of Toronto?
No. GTA figures combine the City of Toronto with surrounding TRREB markets. The 416 and 905 can have materially different prices and activity even for the same property type.
Sources and reporting note
TRREB released the September 2026 figures on October 6, 2026. The GTA aggregate, City of Toronto 416 and surrounding 905 figures are distinct reporting views and should not be treated as interchangeable.
TRREB notes that historical MLS® data have been revised as additional PropTx boards were incorporated. Current historical data should therefore be used rather than mixing revised figures with numbers copied from older static reports.
Market statistics describe a reporting area and period. They do not establish the value or expected sale price of an individual property.
Data reviewed October 7, 2026. REALTOR® is a registered trademark of the Canadian Real Estate Association.
Have a specific GTA property in mind?
Send me the address. I can help put the regional numbers in context with the municipality, property type and current competition that actually matter for that property.
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