Welcome to this month’s market update!

As we embrace another summer month, let’s talk about what kept the GTA real estate market hot throughout July. While many people were away enjoying the sunshine, the market remained active, giving buyers plenty of choice and sellers a competitive landscape to navigate.

Current Market Conditions

The GTA recorded 5,995 home sales in July, compared to 6,770 sales in June. While sales slowed slightly each month, activity remained healthy for the summer season. The average selling price came in at $1,003,956, down from $1,058,658 in June. Detached homes also saw prices adjust, with the average moving from $1,364,204 in June to $1,291,690 in July, making this a great time to get into the market.

The MLS Home Price Index Composite Benchmark was down 4.6% compared to this time in 2025, showing that prices are continuing to normalize while the market remains stable overall.

Homes also spent a little more time on the market. The average Days on Market increased from 42 days in June to 45 days in July, which is 12.5% higher than this time last year.

Link below for previous Toronto Housing Market Reports

• Toronto Housing Market Report – June 2026
• Toronto Housing Market Report – May 2026
• Toronto Housing Market Report – April 2026
• Toronto Housing Market Report – March 2026

Demand and Interest Rates

Buyer activity remains steady, but today’s buyers are approaching the market with a fresh sense of confidence rather than urgency. With more homes to choose from and borrowing costs remaining stable, many buyers are carefully evaluating their options before making a move.

The Bank of Canada continues to hold its key interest rate at 2.25%, which is helping keep financing predictable for both buyers and homeowners.

Next Bank of Canada Interest Rate Announcement: September 2, 2026.

Supply of Homes

There were 26,098 active listings in July, compared to 27,329 in June. While inventory dipped slightly from the previous month, it remains 12.1% higher than this time last year, giving buyers significantly more choice than they had throughout much of the past few years.

For sellers, this means standing out is crucial! Buyers have options and homes that are priced correctly, professionally presented, and marketed effectively continue to generate the strongest interest.

Have any Questions: Ask us how to maximize your home’s value and showcase it to stand out in today’s market!

Market Outlook

July continued to demonstrated that the market is becoming healthier and more balanced. Buyers continue to benefit from improved affordability, stable interest rates and a wide selection of homes, while sellers who prepare their homes properly are still achieving excellent results. Always keeping in mind that having the right strategy and expert guidance from a trusted Realtor remains the key to making the most of current conditions!

Key Takeaways

Home Sales: 6,770 (June) → 5,995 (July)
Active Listings: 27,329 → 26,098 (12.1% higher than July 2025)
Average Selling Price: $1,058,658 → $1,003,956
Average Detached Home Price: $1,364,204 → $1,291,690
MLS® HPI Composite Benchmark: Down 4.6% year-over-year
Days on Market: 42 → 45 days (12.5% higher than last year)
Bank of Canada Interest Rate: Holding steady at 2.25%