TRREB reports 3,082 GTA home sales in January 2026, down 19.3% compared to January 2025. New listings were 10,774, down 13.3% YoY.
The MLS HPI composite benchmark was down 8.0% YoY, and the average selling price was $973,289, down 6.5% YoY.
On a seasonally adjusted basis, TRREB notes sales were down month-over-month from December while new listings were up slightly — suggesting demand is still cautious and buyers are taking longer to commit.
For the GTA, this typically shows up as: more conditional offers, longer decision cycles, tougher appraisal conversations, and higher sensitivity to “value” (layout, condition, maintenance fees, parking, school district) rather than just the address.
For sellers, the market rewards precision: correct pricing, strong photos, and comps that match today’s reality (not last spring’s peak). For buyers, this is often where negotiation power increases — especially on listings that have been sitting.
TRREB also pointed to its broader 2026 Outlook messaging around affordability pressures and actions needed to create a more predictable market.
A useful client-facing line: “This isn’t a dead market — it’s a selective market. Well-priced homes still move, but buyers want proof that the price makes sense.”