Toronto Real Estate Statistics (2026)

Toronto, located in southern Ontario, on the northwestern shore of Lake Ontario, has one of the largest and most expensive real estate markets, not just in Canada, but all of North America. It is Canada’s most populous metropolitan area and its financial centre, attracting tens of thousands of new residents every year, which creates strong demand for housing. 

Like many other housing markets in Canada, Toronto has experienced significant changes in recent years. The city saw rapid price growth during the pandemic, followed by a cooling-down period when the Bank of Canada raised interest rates to combat inflation. Today, Toronto remains one of the most expensive and competitive housing markets in Canada.

Key 2026 Toronto Real Estate Statistics

• In 2026, the average home price was around  $1.05 million in the GTA.
• Nearly 6,000 home sales were recorded in Toronto in April 2026. 
• Average home prices were down around 5% compared to the year before. 
• Across the GTA, the number of active listings exceeded 25,000 properties in 2026. 
• In April 2026, new listings reached over 17,000 properties. 
• On average, detached homes cost over $1.3 million across the GTA. 
• The prices of condominiums fell by approximately 8-9% in a year. 
• The average property spent 29 days on the market. 
• The City of Toronto had a homeownership rate of around 52% in the 2021 Census. 
• Almost half of households in Toronto lived in apartment buildings in 2021. 
• Currently, Toronto has the second most expensive housing market in Canada after Vancouver. 
• The average home remains around 40% more expensive in the GTA compared to ten years ago. 

Toronto Housing Market Overview

The Greater Toronto Area (GTA) is the largest housing market in Canada, including the City of Toronto together with Peel, York, Durham, and Halton Regions. According to Statistics Canada, the population of the Toronto Census Metropolitan area was around 6.2 million people in the 2021 Census, making it the largest metropolitan area in the country. More recent estimates suggest that the population has grown to approximately 7.1 million, which is an increase of roughly 14.5% since 2021. 

The GTA accounts for a significant portion of annual home sales activity in Canada. For example, during 2025, around 62,400 homes were sold across the region. However, this was a lower figure than was seen in the region during the record-breaking pandemic years. 

Toronto’s housing market is heavily influenced by its population growth, including immigration. Over 40% of Toronto’s residents were born outside Canada, which has helped create long-term demand for both rented accommodation and ownership. 

Toronto House Prices

Toronto, together with Vancouver, is one of the most expensive housing markets in Canada. In April 2026, the average home in the GTA sold for approximately  $1,052,000. This represented an approximate decline of 5% compared with the previous year. However, prices in the area remained considerably higher than historical averages. 

House prices in the area vary greatly depending on the type of property. The average home prices in spring 2026 were approximately: 

• Detached homes: $1.34 million
• Semi-detached homes: $1.02 million
• Townhouses: $860,000
• Condominiums: $680,000

Among the largest metropolitan areas in Canada, Toronto’s average home prices were the second-highest in spring 2026. By comparison: 

• Greater Vancouver: approximately $1.17 million
• Greater Toronto: approximately $1.05 million
• Ottawa: approximately $710,000
• Montreal: approximately $675,000
• Calgary: approximately $565,000
• Edmonton: approximately $418,000

Despite recent price corrections, home prices in the GTA remain more than 40% higher compared to 2016. This reflects the exceptional growth experienced in the area during the pandemic housing booms, as well as the years leading up to it. Even after moderate recent declines, housing in the GTA remains less affordable than it was a decade ago. 

Toronto Real Estate Sales

Home sales in Toronto experienced a slowdown between 2022 and 2025 when rising mortgage rates reduced affordability. However, sales in the area have been recovering in 2026. Around 5,950 homes were sold in the GTA during April 2026, which represents around 7% increase compared to April 2025. 

In 2025, annual sales across the GTA reached around 62,430. This was considerably below the record levels of 2021 and still reflected a slower housing market with more available homes and ongoing economic uncertainty. 

Historically, a significant share of house sales activity in the GTA has come from detached homes, though condominiums represent a growing proportion due to challenges with affordability. Detached homes generally represent the largest share of the area’s homes, accounting for nearly half of all home transactions, while condominiums make up about one-quarter of the sales. As affordability issues have increased, the share of condos has gradually risen, especially among first-time buyers. 

Housing Supply in Toronto

The supply of homes remains one of the biggest challenges in Toronto, with population growth outpacing the construction of new homes. However, housing supply has increased across the GTA and active listings exceeded 25,000 properties in spring 2026. This was one of the highest levels seen in the area in several years. 

In April 2026 alone, around 17,000 new properties were listed, which provided buyers with more choice than had been available during the extremely competitive pandemic era. This increase has helped reduce competition among buyers and, therefore, contributed to a slower price growth across many housing segments. 

Market conditions so far in 2026 have generally favoured buyers. The sales-to-new-listings ratio in spring 2026 was around 35%, which is a level usually associated with buyer-market conditions. Real estate analysts generally consider ratios under 40% as buyer’s market, while ratios above 60% are associated with seller-market conditions. 

In spring 2026, reflecting the slower pace, the average property in the area spent around 29 days on the market before selling. During the housing boom of 2021, many homes in the GTA sold in under two weeks. This difference highlights a significant shift in market conditions. 

Toronto Condominium Market Statistics

Condominiums play an important role in accommodating population growth in Toronto and represent one of the largest and fastest-growing segments of the city’s housing market. According to Statistics Canada, apartments accounted for around 47% of all occupied private dwellings in Toronto in 2021. With thousands of new units completed each year, the GTA contains one of the largest concentrations of condominium developments in North America.

However, in recent years, the prices of condominiums have faced a greater downward trend than those of detached homes. In spring 2026, the average condo price declined by around 8,5% year-over-year, falling to approximately $680,000. Factors ranging from increased supply to changing investor demand and higher cost of borrowing all contributed to the weaker price performance in the condominium sector. 

Toronto also has one of the largest investor-owned housing markets in Canada. Studies have found that investors own over 20% of residential properties in some areas of the GTA, with investor ownership especially common among condominiums. As a result, any changes in investor activity can affect condominium prices, rental supply, and overall housing market conditions in the area significantly. 

Homeownership in Toronto

According to the 2021 Census, at 65.1, Toronto’s homeownership rate is slightly lower than the national average of 66.5%. However, the true homeownership rate is likely to be lower in the Toronto Census area because these figures include many young adults who are unable to afford their own homes and still live in homes owned by their parents. Other factors that contribute to the lower ownership rate include the city’s large rental market, high house prices, and concentration of apartment dwellings. 

Homeownership in Canada varies greatly by age. The highest ownership rates are among Canadians aged 55 to 74, while younger Canadians are much less likely to own their homes. Rising house prices and the cost of borrowing have made it increasingly challenging for first-time buyers to enter the housing market in Toronto. 

Income also plays an important role, with higher-income households far more likely to own their own homes than lower-income households. Homeownership rates also vary among Toronto’s immigrant populations: established immigrants are more likely to own homes than recent immigrants. 

Toronto Real Estate Forecast

Housing market forecasts generally point to reasonably stable conditions for Toronto through 2026 and into 2027. Population growth, immigration, and housing needs continue to support demand, while economic uncertainty and affordability challenges might limit the pace of price increases. 

Over the longer term, Toronto’s population, immigration, and diverse economy can be expected to support continuing demand for homes. While the market might fluctuate from year to year, these factors suggest that housing will remain a desirable asset within the GTA.