TRREB August 2026 Shows Lower Inventory Could Benefit Sellers

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Sales were down for the second consecutive month this August in the Toronto area as new listings continued to taper off, according to the Toronto Regional Real Estate Board’s (TRREB) latest report. Townhomes faced the largest sales impact with a 9.5% decrease year over year, with the average price down 8.6% to $786,817.

Condo apartments took the second-largest hit in sales with a 2.6% decline in homes sold, alongside a 3.6% decrease in the average sales price to $617,593. Semi-detached properties faced the second-highest price decline with a 5% dip, resulting in an average home price of $931,665. Despite this, TRREB officials said market conditions could be turning in favor of sellers as dropping inventory helps drive prices up.

“If inventory tightens and home prices begin to rise, some buyers may face a trade-off between waiting for greater economic certainty and purchasing before prices move higher,” TRREB President Daniel Steinfeld said. “At the same time, improving market conditions for sellers could bring more listings to market, providing buyers with additional choice.”

Western GTA Faces Largest Decline in Active Listings

New listings were down 14.1% across the GTA, resulting in about 2,000 fewer listings entering the market.

Listings were down for all seven regions, but the largest difference by volume was in the Peel Region, which decreased 671 listings year over year, or 22.6%. That’s nearly 300 listings less than Halton, which had the second-largest decline by volume with 392 fewer listings year over year, or 24.6%.

Taken together, the western GTA faced the largest decreases in both the volume of new listings and year-over-year changes. Fewer listings ultimately mean buyers in those regions have less options when it comes to finding their next home, but could mean that sellers will have more control of pricing moving into the fall season.

Simcoe County and Western GTA Lead in Price Declines

Home prices decreased about 2.7% year-over-year in August, bringing the average home price to $993,410.

The largest decrease by dollar amount year-over-year was in Simcoe County, which saw average home prices dip 9.1%, or about $82,000, to $810,904.

Similar to new listings, the Peel Region faced a sizable decline in average home prices in August, dropping about $51,000 to $908,415, or about a 5.4% decline. Halton saw similar results, with a 4.2% decrease in prices dropping the average sale price to $1,110,463.

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Although all regions experienced average price declines, the smallest change was in the York Region, with an 0.3% drop, leading to an average home price of $1,179,938.

Ultimately, the slight decline in average prices for a second month could mean the market is slowing down due to buyer uncertainty, but could also indicate an opportunity for buyers on the sidelines to make their move.

“Ownership housing in the GTA has remained relatively affordable over the past year, with average prices dipping and mortgage rates remaining somewhat flat,” TRREB’s Chief Information Officer Jason Mercer said. “Recent news on the overall economy and job creation has been positive. The main hold-back for many households has been concerns around trade with the United States and the potential for higher inflation and borrowing costs in the future.”

Halton Region Shifts From Buyer’s Market to Balanced

The sales-to-new-listings (SNLR) ratio measures demand in the market. Ratios below 40% indicate a buyer’s market, while ratios between 40%-60% are considered balanced.

After months of creeping up, the SNLR in the Halton Region broke out of buyer territory and into the balanced market for the first time this year. Sitting squarely at 40%, Halton is the third region to pass this mark, alongside Durham and Dufferin County.

The decreasing trend of new listings across all markets paired with slowing sales has caused the SNLR in almost all regions to consistently inch toward 40% in 2026. Since January, the Peel Regional has seen the most change in its SNLR, moving from 30% in January to 34.8% in August.

Markets moving from buyer’s markets to balanced conditions means that sellers will likely be on more even footing moving into the fall, giving them more leverage on pricing and requiring fewer concessions to sell.

Halton Region Slowdown Continues

On average, homes spent more time on the market in August compared to the previous year. The average listing days on market (LDOM) was 6.1% higher than last August, while the average property days on market (PDOM) was up 4.1%.

LDOM tracks a single listing, while PDOM tracks a property from the first time it is listed to when it is sold. Both LDOM and PDOM across TRREB areas have increased year over year every month so far in 2026, although the rate of increase in August was lower than last month.

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While the LDOM in the Halton Region was the same year over year, the PDOM increased by 6 days, from 51 to 57 days. This tracks with changes seen in July, in which Halton had the highest PDOM and LDOM increases of any region.

Dufferin had consistent gains in both LDOM and PDOM, with increases of 4 days and 9 days, respectively.

Overall, the market is slowing down, especially for the Halton Region. This means sellers may have more opportunities to take their time home shopping and finding the best fit for them.

Positive Economic Conditions Locally Could Help Market

Despite slowing sales and listings, TRREB officials said conditions could be improving for sellers this fall, and may bring more buyers into the fold. Despite uncertainty surrounding trade and global conflict, local economic conditions are bright: figures in Toronto continued to improve in August, with unemployment down 6.8% and employment growth up 1.5%.

“A more balanced resale market is a positive development, but it does not address Ontario’s ongoing housing supply and affordability challenges,” TRREB CEO John DiMichele said. “Municipalities, in particular, play a significant role in determining how much housing is built, how quickly projects move forward, and the overall cost of delivering homes.”

Here’s a look at how listings, sales, and inventory changed from last month across GTA markets.