July 2026 Toronto Real Estate: July Was Hot. Toronto’s Seller’s Market Was Not.

Toronto spent part of July under heat warnings, with temperatures climbing into the mid-30s and the humidex behaving like it had a personal problem with us. Sidewalks were radiating. Iced coffees had a five-minute life expectancy. Even opening the front door felt like a bad decision.

The GTA housing market did not exactly boil over, but it became noticeably tighter. July was hot. The seller's market was not.

Home sales were almost unchanged from last July, slipping just 0.9%. New listings, however, plunged 17.8%. Active inventory also fell 12.1%, leaving roughly the same number of buyers competing for considerably fewer fresh options.

That is the real story of July. Buyers did not stampede back into the market. Listings simply took the summer off.

The average GTA home sold for $1,003,956, down 4.5% year-over-year. Prices are still softer than they were last summer, but the MLS Home Price Index edged higher on a seasonally adjusted month-over-month basis. In other words, prices have not rebounded, but they may finally be trying to find a floor.

July was not a return to bidding-war chaos. It was a shift in pressure. Buyers still had negotiating power, but less of it on the listings everyone wanted. Sellers still needed to price accurately, but fewer competing properties made it easier for the good ones to stand out.

July's Market in One Sentence

Nearly the same number of buyers competed for a lot fewer new listings.

According to the Toronto Regional Real Estate Board, 5,995 homes sold across the GTA in July 2026, down a modest 0.9% from July 2025. New listings totalled 14,484, a much sharper 17.8% decline.

Active listings fell to 26,098, down 12.1% year-over-year. Months of inventory tightened from 4.91 last July to 4.35 this year. That keeps the GTA in balanced territory overall, but with less breathing room for buyers than the headline sales number suggests.

The average sale price was $1,003,956, down 4.5% from last year. The MLS Home Price Index benchmark declined 4.6% year-over-year. However, on a seasonally adjusted month-over-month basis, the HPI posted a slight increase. One month does not make a comeback, but after a long stretch of declines, even “slightly up” deserves to be invited into the conversation.

Economic conditions also provided a little good news. Recent growth and employment readings came in stronger than expected. TRREB Chief Information Officer Jason Mercer believes that stronger economic conditions could improve consumer confidence and encourage more buyers to act, particularly if home prices remain stable heading into the fall.

The market does not need prices to spike to get moving again. It needs buyers to believe that purchasing today will not make them feel foolish tomorrow. Stability is not exciting, but neither is checking your property value through partially covered eyes.

Condo Buyers Kept Their Cool

The GTA condo market was remarkably uneventful in July, and after the past few years, uneventful is practically a luxury.

Resale condo sales totalled 1,564, virtually flat from last year, while the average condo price fell a comparatively modest 2.3% to $636,323. In the City of Toronto, condo sales increased 3.3% and the average price declined just 1.6% to $672,807.

That is a very different picture from June, when GTA condo prices were down 9.5% year-over-year. Some of that swing may come from the mix of units sold, so nobody should declare the correction over based on one monthly average. Still, a smaller price decline combined with steady sales is a healthier combination than falling prices and disappearing buyers.

Condo buyers still have options. They are still comparing maintenance fees, layouts, parking, building quality and whether the “den” is actually a hallway wearing business casual. But the strongest units are no longer sitting completely untouched.

For buyers, July still offered leverage. For sellers, it offered something the condo market has been missing: evidence of a floor trying to form.

📍 GTA-Wide Scoreboard: The Pressure Came From Supply

July's 0.9% sales decline looks soft until it is placed beside a 17.8% drop in new listings and a 12.1% decline in active inventory. The demand side barely moved. The supply side put on an out-of-office reply.

• Average Sale Price (Jul): $1,003,956 (▼4.5% YoY)

• Average Price (YTD): $1,032,207 (▼5.1% YoY)

• Sales (Jul): 5,995 (▼0.9% YoY)

• Active Listings: 26,098 (▼12.1% YoY)

• MOI: 4.35 → Balanced, Tighter YoY

• Average Days on Market (YTD): 31 (▲14.8% YoY)

• Condo Sales (Jul): 1,564 (▼0.1% YoY)

• Condo Avg. Price (Jul): $636,323 (▼2.3% YoY)

What this means: The GTA did not suddenly become a seller's market, but buyers had fewer new options to consider. A well-priced home with strong presentation could attract attention quickly, while an overpriced listing could still sit through an entire heat warning without anyone breaking a sweat. Tighter supply improves a seller's odds. It does not excuse wishful pricing.

📍 Toronto Snapshot:Tighter, But Not Boiling Over

Toronto quietly did what the broader GTA headline only hinted at. Sales increased 2.4% while active listings fell 13.5%, bringing the city to 4.15 months of inventory. Prices remained below last year, but the condo segment showed encouraging stability. Not a comeback parade, but enough progress to justify a small, tasteful nod.

• Average Sale Price (Jul): $1,010,836 (▼3.3% YoY)

• Average Price (YTD): $1,049,952 (▼4.7% YoY)

• Sales (Jul): 2,242 (▲2.4% YoY)

• Active Listings: 9,310 (▼13.5% YoY)

• MOI: 4.15 → Balanced, Tighter YoY

• Average Days on Market (YTD): 31 (▲10.7% YoY)

• Condo Sales (Jul): 1,054 (▲3.3% YoY)

• Condo Avg. Price (Jul): $672,807 (▼1.6% YoY)

What this means: Toronto is moving closer to genuine balance. Buyers remain price-sensitive, but lower inventory means the best listings have less competition from other sellers. The condo numbers are especially notable. Sales rose while prices came close to flat, suggesting that buyers are returning without needing another dramatic discount to do it.

📍 Mississauga Snapshot: A Cooler Patch in a Tighter GTA

Mississauga did not get the tightening memo. Sales fell 8.1%, the average price dropped 9.6%, and months of inventory reached 5.04. Active listings were still lower than last year, but buyers were not rushing. They were browsing, comparing and generally acting like people who knew the listing would probably still be there tomorrow.

• Average Sale Price (Jul): $899,002 (▼9.6% YoY)

• Average Price (YTD): $964,015 (▼5.7% YoY)

• Sales (Jul): 500 (▼8.1% YoY)

• Active Listings: 2,518 (▼9.2% YoY)

• MOI: 5.04 → Balanced, Buyer-Leaning

• Average Days on Market (YTD): 33 (▲13.8% YoY)

• Condo Sales (Jul): 124 (▼19.0% YoY)

• Condo Avg. Price (Jul): $511,649 (▼6.4% YoY)

What this means: Mississauga buyers still had meaningful leverage in July, particularly in the condo market. Sellers faced fewer active competitors than last year, but weaker sales meant that reduced inventory did not automatically create urgency. This market rewarded value, condition and patience. It did not reward pricing based on a neighbour's 2022 sale and a dream.

📍 Brampton Snapshot: Buyers Turn Up the Temperature

Brampton, meanwhile, absolutely received the tightening memo. It posted the strongest sales growth among the major GTA regions in this report. Sales jumped 16.4% while active listings fell 19.1%. The average price was still down 2.9%, but activity improved sharply.

• Average Sale Price (Jul): $885,702 (▼2.9% YoY)

• Average Price (YTD): $886,606 (▼6.5% YoY)

• Sales (Jul): 498 (▲16.4% YoY)

• Active Listings: 2,066 (▼19.1% YoY)

• MOI: 4.15 → Balanced, Tightening

• Average Days on Market (YTD): 31 (▲14.8% YoY)

• Condo Sales (Jul): 22 (▼18.5% YoY)

• Condo Avg. Price (Jul): $399,331 (▼18.6% YoY)

What this means: Brampton's freehold market is responding to lower prices and reduced supply. More buyers transacted even as inventory dropped, a combination that should support firmer conditions if it continues. The condo figures look alarming, but only 22 units changed hands. Small samples can be dramatic little creatures, so the 18.6% price decline deserves attention without being treated as the entire market's personality.

📍 Oakville Snapshot: The Market Running the Hottest

Oakville was the only major market in this report where the average sale price increased year-over-year. Sales rose 16.5%, active listings fell 17.1%, and the average price edged 1% higher.

• Average Sale Price (Jun): $1,454,094 (▲1.0% YoY)

• Average Price (YTD): $1,472,292 (▲1.5% YoY)

• Sales (Jun): 297 (▲16.5% YoY)

• Active Listings: 1,196 (▼17.1% YoY)

• MOI: 4.03 → Balanced, Tightening

• Average Days on Market (YTD): 32 (▲10.3% YoY)

• Condo Sales (Jun): 42 (▼17.6% YoY)

• Condo Avg. Price (Jun): $694,402 (▼16.6% YoY)

What this means: Oakville's overall market is holding its value, but its condo market is telling a completely different story. A 16.6% condo price decline alongside falling condo sales suggests that this segment has not found its floor as convincingly as Toronto or Mississauga. Oakville is not one market. Premium freeholds are performing; condos are still working through a correction

📍 York Region Snapshot: More Buyers, Lower Prices

York Region recorded a 2.1% increase in sales while active listings fell 10.2%. Prices, however, remained 7.2% below last July, and the region sat at 4.87 months of inventory. Buyers showed up. Their blank cheques did not.

• Average Sale Price (Jul): $1,146,307 (▼7.2% YoY)

• Average Price (YTD): $1,151,992 (▼7.4% YoY)

• Sales (Jul): 1,063 (▲2.1% YoY)

• Active Listings: 5,179 (▼10.2% YoY)

• MOI: 4.87 → Balanced, Buyer-Leaning

• Average Days on Market (YTD): 32 (▲14.3% YoY)

• Condo Sales (Jul): 186 (▼4.1% YoY)

• Condo Avg. Price (Jul): $607,573 (▼7.0% YoY)

What this means: York Region buyers are participating, but they remain firmly focused on value. Lower inventory and slightly higher sales have not yet translated into price growth. This is a balanced market with selective demand. Sellers can sell, but the market is still reading the comparable sales and will absolutely notice if the listing price did not.

📍 Durham Region Snapshot: Still the GTAs Tightest Market

Durham remained the tightest major GTA market at 3.56 months of inventory, but July cooled its jets. Sales fell 13.9%, active listings dropped 6.8%, and the average price declined 5.7%.

• Average Sale Price (Jul): $834,312 (▼5.7% YoY)

• Average Price (YTD): $842,889 (▼6.3% YoY)

• Sales (Jul): 725 (▼13.9% YoY)

• Active Listings: 2,579 (▼6.8% YoY)

• MOI: 3.56 → Seller-Friendly

• Average Days on Market (YTD): 26 (▲23.8% YoY)

• Condo Sales (Jul): 60 (▲5.3% YoY)

• Condo Avg. Price (Jul): $475,192 (▼4.7% YoY)

What this means: Durham had less inventory than any other major region, but buyers were not moving with the same urgency seen in June. Its relative affordability still supports demand, and good listings can move quickly, but a seller-friendly inventory level does not guarantee a seller-friendly result. Price and condition remain the admission fee.

The Forecast: Hotter Competition, Cooler Expectations

July tightened the GTA market without turning it into a frenzy.

Sales were almost flat year-over-year. New listings fell dramatically. Active inventory declined. Toronto and Brampton posted stronger sales. Oakville recorded actual price growth. Condo prices moved closer to stability. Mississauga and Durham, however, showed that the recovery remains uneven.

That unevenness matters. There is no single Toronto market right now. There are neighbourhoods, buildings and property types operating at entirely different temperatures. Some homes are attracting competition. Others are sitting long enough to become familiar faces on Realtor.ca.

📉 The buyer game plan: Do not confuse a balanced market with unlimited time. You still have leverage, especially on stale listings and properties with obvious drawbacks. But reduced inventory means a well-priced home may not wait while you spend four days deciding whether you can live with the backsplash. Know your numbers and be ready when the right property appears.

📈 The seller game plan: Fewer competing listings improve your position, but buyers remain highly informed and deeply unimpressed by aspirational pricing. The sellers who succeed will be the ones who price for today's market, present the property properly and understand exactly what buyers are comparing it against.

The heat-wave version of the market is not a return to 2021. It is more subtle than that. Competition is rising before prices have fully responded. If supply remains constrained and economic confidence improves, prices could begin to level off through the second half of the year.

The fall market will tell us whether July was a temporary temperature spike or someone quietly adjusted the thermostat.

If you want to know what these numbers mean for your neighbourhood, your building or your actual property, let's talk.

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