Published October 9, 2026
TRREB September 2026 Market Watch: GTA Sales Down 9% as Buyers Wait
GTA homebuyers stayed in a holding pattern in September 2026. Sales, prices, and new listings all fell year over year, while average days on market edged higher. The Toronto Regional Real Estate Board (TRREB) released its September Market Watch on October 6, and the tape is clear: more choice for patient buyers, and a tougher path for overpriced sellers.
The September 2026 numbers that matter
Through TRREB's MLS System, Greater Toronto Area REALTORS reported:
- 5,040 sales, down 9.0% from 5,540 in September 2025
- Average selling price $1,006,409, down 5.1% from $1,060,036
- 16,500 new listings, down 14.4% year over year
- 26,131 active listings, down 9.3%
- Average listing days on market: 34 (up from 33)
- Average property days on market: 51 (unchanged)
The MLS Home Price Index Composite benchmark was down 4.7% year over year. On a seasonally adjusted basis, both sales and new listings were softer month over month versus August 2026.
Sales fell, but new listings fell faster. That is the quiet tell in this report. Inventory is still elevated versus the ultra-tight years, yet the flow of fresh supply slowed more than demand did.
What sold, and at what price
By major home type across all TRREB areas in September 2026:
- Detached: 2,399 sales, average $1,292,016
- Semi-detached: 459 sales, average $1,015,202
- Townhouse (freehold): 448 sales, average $907,849
- Condo apartment: 1,316 sales, average $605,257
Condo apartments remain the volume segment. Detached homes still set the price tone at the top of the market. Year over year, every major type saw softer average prices, with condo apartments among the steeper declines.
In the City of Toronto alone, 1,937 homes sold at an average of $1,034,320 (median $810,000). Toronto Central led volume with 924 sales. Toronto West and Toronto East followed with 532 and 481 sales.
Why buyers are waiting
TRREB President Daniel Steinfeld framed September around economic uncertainty, inflation, and borrowing costs. Municipal elections also put housing policy, affordability, and the costs of buying a home front of mind across the GTA and Simcoe County.
TRREB Chief Information Officer Jason Mercer pointed to substantial pent-up demand. Many households still intend to buy into a more affordable market than peak-cycle years, but they want confidence on jobs and on whether inflation will pressure borrowing costs again.
Mortgage rate context in the report (September 2026): 1-year 5.49%, 3-year 6.05%, 5-year 6.09%, with the Bank of Canada overnight rate at 2.3%. Toronto's unemployment rate sat at 6.8% in August. Those numbers help explain why some buyers pause even when prices look softer.
What this means for Toronto buyers
- You have negotiating room in many segments, especially where listings sit past 30 to 50 days. Softer averages are not a free pass on every street. Comp the last 60 to 90 days block by block.
- Treat slower new listings as a clock. If fresh supply keeps thinning while pent-up demand wakes up, the best-priced homes can disappear first.
- Get mortgage-ready now. Pre-approval, document packs, and a clear budget beat wishful timing when the right property shows up.
- Separate city from suburb, and condo from house. City of Toronto condo apartments and detached homes are different markets. Your strategy should match the segment, not the GTA headline.
What sellers should do with the same data
Do not list into September's softer tape with 2022 pricing. Buyers are selective. They will walk past homes that ignore today's comps.
Price to the current 30 to 60 day sold set, present the home properly, and expect more showings before an offer in many pockets. Homes that are well priced and well presented still sell. Homes that chase last year's comps sit.
If new listings keep falling faster than sales, realistic sellers who list before a demand rebound may face less competing fresh inventory later. That is not a reason to overprice today. It is a reason to be ready when conditions shift.
How The Starke Group reads September for clients
The Starke Group, led by Brett Starke and powered by RARE Real Estate at 613 King Street West, tracks TRREB Market Watch numbers alongside live neighbourhood comps. A 9% sales drop and a 5% average-price drop can feel like a "buyer market" headline. The faster drop in new listings is the part most people miss.
Whether you are buying your first Toronto home, moving up, or deciding when to list, we will pressure-test the plan against the segment you actually care about: condo, detached, King West, midtown, or the 905.
Ready for a neighbourhood-level September read?
If you want a clear view of where September's softer prices still leave room to negotiate (and where thin new listings already tighten choice), contact The Starke Group through thestarkegroup.com/connect or reach the team at our King West office.
We will put the TRREB tape and your street-level comps in the same conversation.
