Many GTA homebuyers remained on the sidelines in September as concerns around the economy, inflation and borrowing costs continued to affect confidence.
According to TRREB, 5,040 homes were sold across the GTA in September 2026, down 9% compared with last year. New listings also declined, with 16,500 properties hitting the market, down 14.4% year-over-year.
Prices continued to adjust as well. The average GTA selling price came in at $1,006,409, down 5.1% from September 2025, while the MLS® Home Price Index benchmark declined 4.7%.
The interesting part? There is still a lot of pent-up demand. Many buyers want to make a move and take advantage of today's more affordable prices, but confidence in employment, inflation and future borrowing costs will play a big role in when they decide to jump back into the market.
For buyers, this may mean more negotiating power and opportunities that were much harder to find a few years ago. For sellers, pricing and strategy matter more than ever.
Thinking of buying or selling in Toronto or the GTA? Get local market advice from the RCC Real Estate Group.
