A total of 5,057 home sales were transacted through the Toronto Regional Real Estate Board’s (TRREB) MLS System in August, a 2.1% decline from one year earlier. New listings entered into the MLS System amounted to 12,075, a 14.1% drop from one year before.
On a seasonally adjusted basis, August home sales were down slightly month-over-month compared to July 2026, while new listings were up.
“If inventory tightens and home prices begin to rise, some buyers may face a trade-off between waiting for greater economic certainty and purchasing before prices move higher,” said TRREB President Daniel Steinfeld. “At the same time, improving market conditions for sellers could bring more listings to market, providing buyers with additional choice,”
Last month, the MLS Home Price Index (MLS HPI) Composite benchmark was down by 4.5% year-over-year while the average selling price of $993,410 marked a 2.7% drop from August 2025. On a month-over-month seasonally adjusted basis, MLS HPI Composite was essentially flat compared to July and the average selling price edged up over the previous month.
“Ownership housing in the GTA has remained relatively affordable over the past year, with average prices dipping and mortgage rates remaining somewhat flat,” added TRREB’s Chief Information Officer Jason Mercer. “Recent news on the overall economy and job creation has been positive. The main hold-back for many households has been concerns around trade with the United States and the potential for higher inflation and borrowing costs in the future.”
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