The Greater Toronto market is showing some signs of cooling as we move into early Q3, with approximately 6,000 home sales—a slight 1% decline year-over-year after several months of gains. However, it’s worth noting that sales activity still improved by about 3% compared to the previous month. The average selling price sits around $1 million, while the typical-home benchmark has dipped about 5% year-over-year. This indicates that buyers continue to have some leverage in negotiations across many GTA neighbourhoods.
Looking at the breakdown by housing type, detached home sales edged up 1% from last year, while semi-detached sales dropped 6%, townhouses were down 3%, and condo apartments remained nearly unchanged. On the supply side, new listings tightened significantly—dropping 18% year-over-year to roughly 14,500, while active listings fell 12% to about 26,100. This means fewer fresh options for buyers across the GTA.
As someone who has guided clients through various market cycles since 2009, I pay close attention to how shifts in supply and buyer leverage affect opportunities for buyers, sellers, and investors. With sales taking a larger share of listings, the current landscape suggests that if confidence returns, we could see more balanced conditions—and potentially less room for price negotiation as supply tightens further. Staying informed is key to making confident real estate decisions, and I remain committed to helping my clients navigate these evolving market dynamics with expert advice and a client-first approach.
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