Key takeaways
- The GTA average price was $1,006,409 in September 2026, down 5.1% from a year earlier.
- Buyers currently have more negotiating room than in the peak years, but borrowing costs rose in October.
- Condos are the lowest-priced entry point, averaging about $605,000; detached homes average about $1.29 million.
- Averages hide big differences by area and home type, so compare recent sales for the exact homes you want.
In this chapter
Overview of the Greater Toronto AreaCurrent Market TrendsTypes of Properties Available
September 2026 GTA snapshot
Overview of the Greater Toronto Area
The Greater Toronto Area (GTA) is the City of Toronto plus the regions of Durham, Halton, Peel and York. You’ll find downtown condos, older city neighbourhoods, newer suburbs and small towns, all with very different prices and lifestyles.
The population here has grown steadily for years, which supports housing demand. Sales and prices can still change quickly from one year to the next, so don’t rely on old stories about the market.
Think about daily life, not just the home. Transit, shops, parks, healthcare and schools will shape your routine long after you’ve unpacked. The GTA’s many cultures are also a big part of what makes each neighbourhood different.
You don’t need to know everything before you start. You do need a budget, a clear idea of what matters to you, and people you can trust for advice. This book walks you through each step.
Visual guide · First home
The GTA at a glance
City and region
VS
Current Market Trends
The market has changed a lot since the pandemic peak. In September 2026, TRREB reported 5,040 sales, down 9% from a year earlier, and an average selling price of $1,006,409, down 5.1%. The MLS® Home Price Index composite, which adjusts for the mix of homes sold, was down 4.7%.
The gap between home types matters most for first-time buyers. In September, the average condo apartment sold for about $605,000, compared with about $1.29 million for a detached home. Within each home type, homes in the City of Toronto (416) averaged more than those in the 905 regions. A region-wide average tells you little about the home you want.
New listings fell 14.4% and active listings fell 9.3% in September from a year earlier, leaving 26,131 homes on the market. Buyers still have more choice than in the tightest years, but that could change, so check conditions again when you’re ready to offer.
On October 28, 2026, the Bank of Canada raised its overnight rate by a quarter point to 2.50%, its first increase since 2023. That isn’t a mortgage rate, and lenders set their own, but it can influence what you pay. Get a current pre-approval rather than relying on rates in the news.
Visual guide · First home
Average price by GTA region, September 2026
Visual guide · First home
Average GTA price over four months, 2026
Average price and benchmark
What it isAn average includes every sale. A benchmark (HPI) adjusts for the mix of homes sold.
Why it mattersOne unusual month can shift an average.
What to doUse both, then check similar homes nearby.
Types of Properties Available
Condos are the most common starting point because they usually cost less to buy and need less upkeep. Remember to add the monthly fees, and read the rules.
A townhouse often gives you more space and sometimes a small yard. It may be freehold or condominium, so find out which it is.
A semi-detached home shares one wall with a neighbour. It can offer many of the benefits of a house at a lower price, and is common in older neighbourhoods.
A detached home gives you the most privacy and space, along with the highest price and upkeep.
A multi-unit home, such as a duplex, lets you live in one unit and rent out another. The rental income can help with your mortgage, but you’ll also become a landlord, with legal duties. Confirm that the units are legal before you buy.