A total of 3,868 home sales were transacted through the Toronto Regional Real Estate Board’s (TRREB) MLS System in February, down by 6.3% from one year earlier. The decline in sales was matched with a 17.7% drop in new listings, which totaled 10,705 last month.
On a seasonally adjusted basis, February home sales and new listings were down month-over-month compared to January while new listings were down by a greater monthly rate than sales.
The average selling price, at a little more than $1 million, was down 7.1% from February 2025.
“The long-term sustainability of the GTA housing market depends upon the industry’s ability to bridge the gap between condominium apartments and traditional single-family homes,” said TRREB CEO John DiMichele. “TRREB, with its partners in the Housing Advancement Coalition, is urging the federal and provincial governments to take immediate targeted action to pave the way for increased ‘missing middle’ home construction.”
“There is substantial pent-up demand in the GTA ownership market, with more than 100,000 buyers holding off on making a home purchase,” added TRREB Chief Information Officer Jason Mercer. “Buyers are waiting for selling prices to level off and for positive news on the trade front. Once we see both, there could be substantial momentum driving home sales in the second half of this year and into 2027.”
