MARKET INTELLIGENCE
The GTA market, February 2026. The numbers.
3,868 sales. $1,008,968 average price. Inventory rising. Buyers have the leverage right now. Here is what that means for you.
Last updated: March 5, 2026 · Source: TRREB MLS® System, February 2026
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GTA AVG SALE PRICE
↓ -7.1% YoY
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SALES THIS MONTH
↓ -6.3% YoY
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NEW LISTINGS
↓ -17.7% YoY
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AVG DAYS ON MARKET
↑ +33.3% YoY
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SALES-TO-LISTINGS
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ACTIVE LISTINGS
↓ -2.4% YoY
PRICE HISTORY
GTA Average Sale Price, 2013 to Present
Prices peaked at $1,189,850 in 2022 following pandemic-era demand. The correction since has brought values back to 2020 levels. The market is finding its floor. What happens next depends on rate decisions and spring inventory.
TRANSACTION VOLUME
Annual Sales Volume, GTA
2021 was the anomaly. 121,712 sales driven by record-low rates and pandemic-fuelled demand. Volume has since normalized to pre-2020 levels. At 65,000 to 70,000 annual sales, the GTA market is functioning. Not stalling.
BY PROPERTY TYPE
Average Sale Price by Type, February 2026
The spread between a detached home and a condo apartment is $699,004. That gap defines the upgrade decision for most GTA buyers. The math on bridging it has changed significantly since 2022.
YORK REGION
Average Sale Price by City, February 2026
King remains the outlier at $2,626,800 average. Estate properties skew that number significantly. For typical residential, Richmond Hill, Aurora, and East Gwillimbury are clustered tightly in the $1.1M to $1.2M range.
MARKET SPEED
Average Days on Market by City, February 2026
Georgina at 71 days and Stouffville at 56 days reflect softer demand in outer markets. Core York Region cities, Richmond Hill, Markham, Vaughan, are moving at 35 to 40 days. Still a buyer's market, but not stagnant.
BENCHMARK PRICING
MLS® Home Price Index, February 2026
| Category | Benchmark | YoY Change |
|---|---|---|
| All TRREB Composite | $938,800 | ↓ -7.89% |
| Detached | $1,228,900 | ↓ -7.63% |
| Semi-Detached | $934,200 | ↓ -8.28% |
| Townhouse | $685,300 | ↓ -9.39% |
| Condo Apartment | $542,200 | ↓ -9.50% |
Benchmark prices represent a "typical" property in each category, adjusted for quality differences over time.
ANALYSIS
What this data actually means.
A sales-to-new-listings ratio of 33.6% is buyer's market territory. Below 40% means there are more properties than buyers. That is the reality right now. If you are buying, you have negotiating power that did not exist 18 months ago. Use it.
New listings are down 17.7% year over year. Sellers are sitting on the sidelines, waiting for conditions to improve. That creates an interesting tension: buyers have leverage, but inventory is not unlimited. The listings that are hitting the market are often from sellers who need to move, not want to move. That changes the negotiation dynamic.
The Bank of Canada rate sits at 2.3%. The 5-year fixed mortgage rate is around 6.09%. Rate cuts have started but the gap between the overnight rate and what borrowers actually pay remains wide. Where that spread goes over the next six months matters more than any single rate announcement.
York Region is performing in line with the broader GTA. Core cities like Richmond Hill ($1,140,088), Markham ($1,068,928), and Newmarket ($1,166,816) are holding relatively steady. The outer markets, Georgina and Stouffville, are softer. That is not a surprise. Demand follows infrastructure and commute times.
For buyers: this is the window where preparation pays the most. Competition is lower. Sellers are more flexible on price and conditions. Do the analysis, identify the right property, and make an informed offer. For sellers: pricing correctly from day one is the only strategy that works in this market. Overpricing in a buyer's market means sitting, reducing, and ultimately selling for less than you would have at the right number.
Want to know what this means for your situation?
Market averages tell part of the story. Your property, your neighbourhood, your timeline. That is a different conversation.
TALK TO MARKSource: Toronto Regional Real Estate Board (TRREB) MLS® System. Data for February 2026, released March 5, 2026. All figures subject to revision. © 2026 TRREB.