Oct 2026
Average Price
$892,482
During the pandemic years (mid-2020 to early 2022), home sales crossed the 10,000 mark in certain months and hit a peak of 16,567 units in March 2021. Then, in the years following the pandemic (mid-2022 to mid-2026), sales ranged between 3,100 and 9,000 units, about 45-80% lower than the peak recorded during the pandemic. In the same stretch, active listings increased to roughly 30,000 to 60,000 units, up from about 21,000 to 30,000 listings seen between late 2021 and early 2022. Meanwhile, throughout the entire decade (mid 2016 to mid 2026), new listings in the GTA continued to follow seasonal trends, typically rising in spring and summer.
Sales increased steadily throughout this period, consistently ranging between 5,000 and 12,000 transactions. Meanwhile, active listings remained relatively low at around 20,000 to 35,000 units.
Following the introduction of the mortgage stress test and tighter lending policies, sales moved lower to the 4,000-8,000 range. At the same time, active listings increased sharply, exceeding 40,000 units during several months.
Sales saw a modest uptick, rising to around 8,000-10,000 transactions in certain months. Active listings also stayed elevated, remaining above 40,000 units in several months. However, during late 2019 and early 2020, both sales and inventory were on a downward trend.
After a brief dip in early 2020, sales increased sharply and reached a peak of 16,567 transactions in March 2021. Inventory, on the other hand, remained relatively tight.
Starting mid-2022, home sales began trending lower, generally ranging between 3,100 and 9,000 transactions. Inventory levels were extremely tight in the initial phase, particularly in December 2022 at 26,965 units, marking one of the lowest inventory levels of the decade. However, over time, active listings increased steadily and reached 61,255 units in June 2025.
Right now, 5,375 homes have been sold, while 36,872 active listings remain on the GTA housing market.
Source: Based on analysis of historical information made available from respective real estate boards.
The GTA housing market includes a diverse range of property types, such as detached homes, semi-detached homes, townhouses, and condo apartments. Each of these options appeals to buyers looking for different levels of space, affordability, and convenience.
Detached homes account for the largest share of sales in the GTA housing market, with 385,901 units sold between mid-2016 and mid-2026. The average price for detached houses in the GTA stands at $1.26M.
79,510 transactions were recorded for semi-detached homes, with an average sold price of $873.27K.
Freehold townhouses recorded 81,366 transactions, with an average price of $868.62K. These houses are often preferred for offering a mix of affordability, space, and a more traditional home layout.
A total of 67,255 condo townhouses were sold in the GTA, with an average price of $674.86K.
Condo apartments ranked as the second most sold property type, with 241,151 units sold. With an average price of $560.10K, apartments had the lowest average price in the GTA market.
The absorption rate, also known as the sales-to-new listings ratio, is used to track market activity in the GTA housing market. When the ratio is above 60%, it signals a seller’s market, where demand is strong, inventory remains limited, and prices typically rise. When the ratio falls between 40% and 60%, it reflects a balanced market, where buyers and sellers have similar negotiating power. If the ratio drops below 40%, it points to a buyer’s market, where buyers have more options, less competition, and greater flexibility to negotiate price and other terms.
Absorption rates remained elevated throughout this period, generally ranging between 65% and 80%, clearly reflecting a strong seller’s market.
With policy tightening and the introduction of the mortgage stress test, the housing market became more balanced while still giving sellers some leverage. In most months, the market’s absorption rate remained between 40% and 65%. Toward the end of 2019, however, the absorption rate moved above 80%.
Ultra-low interest rates during the pandemic steadily pushed absorption rates higher over time. From mid-2020, absorption rates increased sharply, often reaching between 60% and 88% in certain months, clearly indicating strong seller dominance.
From mid 2022 onward, absorption rates have remained between 30% and 70%, with conditions becoming increasingly favourable to buyers in the later part of the period.
Currently, the absorption rate in the GTA stands at 38%.
Following the rapid pandemic surge, the Greater Toronto Area (GTA) real estate market moved into a phase of correction and gradual rebalancing. Rising interest rates, along with persistent inflation, slowed the overall pace of market activity and pushed prices lower after reaching a peak. At the same time, the average days on market also increased, pointing to a shift toward more balanced conditions. However, when you step back and look at the bigger picture over the past decade (mid 2016 to mid 2026), the GTA real estate market mostly demonstrated resilience, supported by steady population growth and an ongoing shortage of housing supply.
Taking the latest trends into account, home prices in the GTA have seen a -3.14% shift year-over-year. Over the past five years, property prices in the GTA have recorded a -13.77% change, while over ten years, they have experienced a 35.45% change.
During this period, the GTA housing market saw rapid price growth, driven by strong demand, favourable economic conditions and historically low interest rates. Home prices moved up steadily, increasing from around $650K to nearly $780K.
The strong price growth trend slowed after the introduction of the mortgage stress test, stricter lending rules, and government housing policies aimed at cooling the market. Prices rose to $782.80K in April 2017, followed by a phase during which home values adjusted and stayed largely between $670K and $730K.
Home prices gradually increased from around $700K to $790K, reflecting a modest but consistent upward trend.
Property prices took a short-term dip in early 2020, then climbed rapidly, reaching $1.23M in February 2022 – the highest home price recorded over the past 10 years (mid 2016 to mid 2026). Ultra-low interest rates, remote work trends, higher savings, and increased housing demand drove this rapid price growth.
Following early 2022, rising interest rates and persistent inflation triggered a market correction. From that point through the first half of 2026, prices generally remained within the $850K - $1.0M range. This shift led to a noticeable improvement in affordability across the GTA, especially when compared to the peak levels seen during the pandemic. Homes were also sitting on the market longer, offering buyers a clear window of opportunity.
The current average property price in the GTA is $ 895,130, and homes are taking an average of 33 days to sell.
Compared with the previous year, rental prices in the Greater Toronto Area have changed by 0.73%. This provides a better idea of how rents have moved over the past year and how the current market compares with where it was a year earlier. Over the past five and ten years, rents have seen a 9.74% and 51.31% shift, respectively.
In this phase, the GTA rental market saw a steady increase in both rental prices and leasing activity, supported by population growth and tightening vacancy rates. Average monthly rents remained around $1,830 to $2,020 during this phase. At the same time, leased units totalled around 3,000-5,800 properties in most months.
Between 2018 and 2019, rental prices continued to increase in the GTA at a moderate pace, ranging from $2,000 to $2,300. Leasing activity remained within the 3,300 to 7,000 unit range.
Leasing activity dropped to 2,635 units in April 2020 due to lockdown and reduced mobility. Later, activity picked up, reaching 9,749 units by July 2021. Rental prices remained modest, ranging from around $2,300 to $2,600.
From early 2022 onward, the GTA rental market saw strong momentum, driven by immigration, return-to-office trends, and limited rental supply. Rental prices climbed from around $2,531 in February 2022 to $3,013 in October 2023, before easing slightly through 2024 and 2025. Leasing activity also picked up significantly, reaching a peak of 13,205 units in July 2025.
Currently, the average rent in the GTA is $ 2,771, with 12,717 properties available for rent.