Oct 2026
Average Price
$1,276,842
In the early days of the pandemic (early 2020), uncertainty made many buyers step back and put their plans on hold. To give you a sense of the scale, property sales volumes dropped sharply to just 372 units in April 2020, the lowest level of transaction activity recorded in the period under study (mid 2016 to mid 2026). However, this slowdown didn’t last long. From mid 2020 to early 2022, housing demand picked up quickly and pushed sales to one of their peak levels in the Toronto housing market. Fast forward to the post-pandemic years (mid 2022 to mid 2026), and the market told a different story. During that stretch, sales volumes cooled, averaging between 500 and 1,000 units. Meanwhile, inventory moved in the opposite direction, with far more homes available in the market compared to the comparatively tight supply seen during the pandemic. With more homes listed for sale, buyers had more choice and more leverage to negotiate better deals.
Buyer demand remained strong, pushing sales from roughly 1,200 transactions in August 2016 to nearly 1,600 by spring 2017. During the same stretch, active listings increased from about 3,350 units to over 4,600.
As tighter borrowing rules came into play, the market began to shift. According to the Toronto real estate market trends, demand eased, and sales dropped into the 500 to 1,300 range. Meanwhile, inventory settled into a more stable pattern, generally holding between 2,000 and 4,200 units.
At the start of this phase, the market saw a sudden slowdown due to pandemic uncertainty. However, by mid-2020, demand quickly returned, driving a strong rebound in the market. By 2021, sales climbed sharply, frequently reaching between 1,200 and over 2,000 transactions, with March 2021 recording the highest activity in the period under study (2,065 transactions). But while sales volumes saw a sharp increase, inventory did not follow the same trend, even with new listings continuing to enter the market. From late 2020 through early 2022, active listings held within a range of 2,400 and 4,900 units.
After this peak, the market began to cool as higher interest rates took effect. Sales eased and typically ranged mostly between 450 and 1,300 units. On the other hand, inventory started slowly building, ranging from around 3,000 to 5,300 homes.
During this period, inventory expanded significantly, climbing from about 5,000 to over 10,000 units. Meanwhile, sales remained steady, generally ranging between 500 and 1,300 transactions.
Inventory came down from its peak and settled between 5,600 and 8,400 units, reflecting a gradual tightening compared to mid-2025 levels. Sales remained steady, typically between 540 and 1,200 transactions, without any strong upward movement.
At this moment, 1,081 sales have been recorded across the Toronto housing market, and 16,169 properties are available for sale.
Source: Based on analysis of historical information made available from respective real estate boards.
Among houses for sale in the Toronto real estate market, detached homes recorded 18,255 sales. These houses lead the market in terms of price, averaging around $1.96M.
A total of 13,019 semi-detached homes were sold across the housing market in Toronto at an average price of $1.36M.
Freehold townhouses accounted for 4,173 sales, making them the least sold property type. The average sale price sat at $1.32M.
Within the townhouses for sale segment, condo townhouses recorded 4,791 transactions. They sat at a lower price point, around $961.44K.
Condo apartments recorded 78,862 sales, far exceeding all other property types. Apartments for sale remained the most affordable in the real estate market in Toronto, with prices near $746.46K.
During this period, the absorption rate stayed strong, mostly ranging between 50% and 80%.
The market cooled slightly during this period, with absorption rates ranging from 30% to 60%.
In 2021, the market picked up again, and the absorption rate remained between 50% and 80%, showing strong demand.
The absorption rate gradually moved lower, settling into the 40% to 50% range. However, by early 2023, based on Toronto real estate market trends, activity picked up again, bringing absorption rates close to 60%.
From mid-2023 onward, the absorption rate mostly stayed between 25% and 45%.
According to the latest numbers, the housing market in Toronto has an absorption rate of 38%.
Throughout the period covered by this analysis, from mid-2016 to mid-2026, the Toronto housing market has almost consistently remained one of the most expensive in Ontario, and its high home prices have some very real reasons behind them. The city’s strong job market, world-class educational institutions, and top-notch conveniences have long attracted immigrants, keeping housing demand almost consistently high. Now, here’s the other half of the equation and one of the key reasons why home prices in Toronto sharply took off during this stretch. Even as demand kept climbing year after year in Toronto, housing supply simply didn’t keep up. This gap led to intense competition for available homes, which kept pushing Toronto house prices steadily higher, especially during the pandemic years (mid 2020 to early 2022).
However, post-pandemic (mid 2022 to mid 2026), with rising interest rates and a growing preference for suburban living – one of the key shifts seen in the Toronto housing market over the decade – the sharp upward trend in home prices gradually cooled off. The days on market for Toronto MLS listings were also well above levels seen in previous periods.
Toronto real estate prices have recorded a -2.49% change over the last year, alongside a -21.27% change over five years and a 27.94% change over the last decade, based on current figures.
During this phase, strong economic conditions and historically low interest rates created clear upward pressure on home prices. Starting at around $1.04M in August 2016, the average house price in Toronto steadily moved higher, crossing the $1.30M mark by early 2017.
Following the initial surge, the market shifted into a more balanced phase and property prices mostly stayed between $1.00M and $1.25M.
When the pandemic began in early 2020, uncertainty caused a short dip, but the market recovered quickly. Specifically from early 2021 onward, ultra-low interest rates, remote work trends, and higher savings drove the strongest price growth of the entire period in the Toronto housing market. Property prices saw a sharp rise, eventually reaching their highest level of the period – $1.65M in April 2022.
According to the Toronto home price trends, as the Bank of Canada began raising interest rates, the market started to rebalance. Property prices adjusted from earlier highs, with most homes selling between $1.25M and $1.50M.
Toronto home prices were holding between $1.20M and $1.40M, pointing to a more balanced market.
Based on the latest figures, home prices in Toronto stand at $ 1,276,842, and properties are taking an average of 26 days to sell.
The Toronto rental market offers a wide range of housing options, from purpose-built rental buildings and condominium units to townhomes, detached homes and basement apartments. Much like broader housing prices, rental prices in Toronto have seen their fair share of movement, both over the short term and long term. According to the current Toronto rental market figures, rents have seen a -0.47% change over the past year, a 9.99% change over the last five years, and a 21.79% change over ten years.
Supported by ongoing population growth, Toronto rental housing prices kept climbing over the years, crossing the $3,000 mark in 2019. Leasing activity also remained fairly steady over the years, generally staying between 900 and 2,000 units, and later climbed to over 2,600 units in June 2019.
Through this stretch, rental prices mostly stayed within the $2,800 to $3,150 range. Activity in the rental housing market in Toronto also remained fairly moderate, generally landing between 1,100 and 1,500 transactions per month.
At the start of the pandemic, leasing activity dropped sharply to 895 units in April 2020. However, this slowdown in the Toronto rental market didn’t last long. Leasing activity picked up again, climbing past 4,600 units by mid-2021. During this stretch, rental prices remained mostly between $2,600 and $3,000.
During this phase, prices in the Toronto rental housing market climbed quickly, moving from about $3,000 in October 2022 to a peak of $3,748 in May 2023 - the highest level seen in the decade under review. Activity remained relatively steady, generally between 1,400 and 3,000 transactions per month.
After hitting a peak in May 2023, rents eased slightly but remained relatively high. Meanwhile, leasing activity picked up strongly, reaching a peak of 6,070 transactions in July 2025.
Rental prices moved lower to around the $3,000 to $3,300 range. Leasing activity also came down from earlier highs, settling between roughly 2,700 and 5,600 transactions per month.
The current rental price in Toronto is $ 3,227, and there are 6,769 properties available for lease.