"Is it a good time to buy?" is the wrong question to type into Google , it's too broad to answer honestly. The right question is: what do the actual local indicators say about *your* target city and price bracket, right now? Here's how to read them like a professional.
The Three Indicators That Actually Matter
1. Months of Inventory (MOI)
This measures how long it would take to sell off all current listings at the current pace of sales. As a rule of thumb:
- Under 3 months of inventory = seller's market
- 3-6 months = balanced market
- Over 6 months = buyer's market
TRREB and CREA both publish this metric monthly at the regional and municipal level (TRREB Market Watch, CREA National Statistics).
2. Sale-to-List Price Ratio
This shows what percentage of the asking price homes are actually selling for, on average. A ratio consistently above 100% signals bidding wars and seller strength. A ratio drifting below 98% signals buyers are successfully negotiating below asking , a clear buyer's market tell.
3. Days on Market (DOM)
Rising average DOM is one of the earliest, most reliable signs of a market shifting toward buyers, often showing up before price data catches up.
City-by-City Snapshot (2026)
- Toronto: Balanced market, average price down modestly year-over-year. High competition among listings for buyer attention.
- Mississauga: Balanced, prices roughly flat year-over-year , a market that has stabilized after correcting from 2022 highs.
- Brampton: Balanced-to-transitioning, with the steepest year-over-year price decline in the GTA, creating real leverage for buyers.
- Vaughan: Balanced, leaning toward buyers, with a notable year-over-year price decline.
- Oakville: The exception , prices up meaningfully year-over-year, still leaning toward sellers in the luxury segment.
- North York: Balanced, tracking closely with the broader Toronto trend.
- Etobicoke: Balanced, with one of the more modest price declines in the region.
For the most current version of these figures, always check TRREB's latest monthly release, since conditions shift month to month and by property type (detached vs. condo vs. townhouse each behave differently within the same city).
Why "Balanced" Doesn't Mean "The Same Everywhere"
A city-wide "balanced" label can mask huge differences at the neighbourhood level. A balanced Toronto market overall might still be a strong seller's market for renovated detached homes in high-demand school zones, while condos in oversupplied downtown towers behave like a firm buyer's market. Always ask for the specific inventory and DOM data for the exact property type and neighbourhood you're targeting , not just the city-wide average.
What Buyers Should Do in a Balanced-to-Buyer's Market
- Negotiate firmly on price, closing date, and inclusions , you have more room than you did in 2021-2022.
- Ask for a pre-listing home inspection contingency; sellers are more likely to agree to conditions in a slower market.
- Don't assume "balanced" means "cheap" , it means normal, competitive negotiating conditions, not a fire sale.
Frequently Asked Questions
What counts as a buyer's market?
Generally, more than 6 months of housing inventory, a sale-to-list ratio consistently under 98%, and rising average days on market.
Which GTA city currently has the most buyer leverage?
Based on 2026 data, Brampton and Vaughan show the clearest buyer-favourable trends, with year-over-year price declines and balanced-to-buyer conditions.
Is Oakville still a seller's market?
Yes , Oakville's average price is up meaningfully year-over-year, and the luxury segment remains resilient even as other GTA cities correct.
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*Want the exact months-of-inventory and sale-to-list data for your specific neighbourhood? Ask Hamodi Realty for a free local market snapshot.*