Market Report · June 2026
GTA Real Estate Market Report: June 2026 Prices, Trends & Forecast
The full picture on the GTA housing market — city-by-city home prices, sales trends, mortgage outlook, and what TRREB's May 2026 data means whether you're buying, selling, or investing.
At a glance
GTA Housing Market at a Glance (May 2026)
Average Home Price
$1,069,700
-4.6% YoY
Median Home Price
$910,000
May 2026
Sales Volume
6,583
+6.3% YoY
New Listings
17,698
-18.9% YoY
Active Listings
26,927
-13.3% YoY
Avg. LDOM
27 days
up from 25
Avg. PDOM
42 days
up from 39
5-Yr Fixed Mortgage
6.09%
Apr 2026
What's Driving the Market This Month
Three forces are shaping every conversation about GTA real estate trends right now:
Affordability pressure. Toronto's unemployment rate sat at 8.1% in March 2026, making mortgage qualification harder even where rates have stabilized. The Bank of Canada's overnight rate was 2.3% in April 2026, with the prime rate at 4.5% — translating into posted mortgage rates of roughly 5.49% (1-year), 6.05% (3-year), and 6.09% (5-year).
A supply squeeze. New listings fell 18.9% year-over-year, and active listings are down 13.3%. Sellers who pulled back during the slower 2025 market haven't fully returned, which is quietly tightening conditions even as overall prices stay below last year's levels.
A more patient buyer. Properties are sitting on the market longer — 42 days on average, up from 39 a year ago. Buyers are doing their homework, comparing options, and negotiating harder. This isn't a market that rewards overpricing.
GTA Home Prices by City and Region
GTA home prices vary enormously depending on where you look — from sub-$700K entry points in Durham Region to luxury territory above $1.5M in Oakville. Here's how the major municipalities compare in May 2026.
| City | Avg. Price | Median | Sales | Active | PDOM |
|---|---|---|---|---|---|
| Oakville | $1,559,052 | $1,380,500 | 304 | 1,240 | 51 |
| Richmond Hill | $1,209,257 | $1,165,000 | 224 | 1,030 | 43 |
| Vaughan | $1,179,718 | $1,088,000 | 313 | 1,330 | 41 |
| Markham | $1,177,330 | $1,160,000 | 303 | 1,166 | 38 |
| Burlington | $1,126,148 | $959,950 | 278 | 833 | 42 |
| Toronto | $1,108,292 | $885,000 | 2,377 | 9,916 | 40 |
| Milton | $977,732 | $885,000 | 165 | 549 | 38 |
| Mississauga | $971,047 | $896,500 | 568 | 2,465 | 45 |
| Whitby | $949,657 | $905,000 | 151 | 421 | 34 |
| Pickering | $927,422 | $855,000 | 126 | 457 | 41 |
| Brampton | $889,407 | $835,000 | 456 | 2,133 | 43 |
| Ajax | $838,788 | $807,500 | 128 | 270 | 29 |
| Oshawa | $708,723 | $665,000 | 183 | 654 | 38 |
Oakville continues to command the highest average price in the GTA, but it's also seeing the longest days-on-market (51) — a sign that even luxury buyers are negotiating on timeline and price. At the other end, Oshawa remains the most accessible entry point into the GTA market by a wide margin, with Ajax and Whitby close behind.
GTA Real Estate Trends by Home Type
Home type matters as much as location when it comes to GTA home prices. Here's how the four major categories performed across the GTA in May 2026.
| Home Type | Sales | Avg. Price | YoY Price | YoY Sales |
|---|---|---|---|---|
| Detached | 3,236 | $1,358,131 | -4.7% | +9.0% |
| Semi-Detached | 608 | $1,067,672 | -2.9% | -0.8% |
| Townhouse | 1,114 | $840,608 | -7.1% | +4.8% |
| Condo Apartment | 1,535 | $639,468 | -6.4% | +4.2% |
Detached homes are seeing the strongest sales rebound (+9.0% YoY) even with prices down nearly 5%, suggesting buyers are stepping back into the move-up market now that pricing has reset. Condo apartments and townhouses remain the most popular entry points for first-time buyers.
Toronto Transit & Neighbourhood Trends
The Ontario Line Effect
Areas surrounding the future Ontario Line stations — particularly Leslieville, Riverside, and the Pape Avenue corridor — are seeing a 15-20% increase in buyer search intent. Property values within walking distance of planned stations are holding their value better than the broader GTA average.
Line 5 Eglinton Crosstown
The completion of the Eglinton Crosstown has already spurred high-density residential development in Scarborough's "Golden Mile" area, with increased commercial activity following close behind.
GTA Real Estate Market Forecast
Mortgage rates are projected to average around 6.3% across 2026, a modest improvement from 6.6% in 2025. With new listings down nearly 19% year-over-year, the supply squeeze is likely to continue putting a floor under prices in well-priced, in-demand segments. Expect a market that rewards realistic pricing and patient negotiation more than aggressive bidding wars, with detached homes leading any recovery in sales activity.
Free PDF
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Should You Buy, Sell, or Invest in the GTA Right Now?
For Buyers
Affordability is still the dominant concern, but a -4.6% price correction combined with more negotiating room (42-day average PDOM) means motivated buyers have leverage they didn't have two years ago. See the buyer playbook →
For Sellers
Tightening inventory — new listings down 18.9% YoY — is starting to work in sellers' favour, but only for homes priced realistically from day one. See the seller playbook →
For Investors
Average rental yields across the GTA sit in the 3-5% range, with the strongest opportunities emerging in underserved Durham Region markets like Oshawa and Whitby. See the investor strategy →
Frequently Asked Questions
Is now a good time to buy in the GTA?
Prices are down 4.6% year-over-year and homes are sitting on the market longer (42 days average), giving buyers more negotiating room than the market has offered in recent years — though higher mortgage rates and an 8.1% unemployment rate mean qualification still requires careful planning.
Will mortgage rates go down further in 2026?
Forecasts point to an average of 6.3% across 2026, down from 6.6% in 2025. That's why many buyers are choosing shorter 1-3 year fixed terms, positioning themselves to refinance if rates ease further.
How much do I need for a down payment in Toronto?
Minimum down payment requirements in Canada scale with purchase price, so the amount needed varies significantly between a $639K condo and a $1.1M+ detached home. A mortgage broker can calculate the exact figure for your target price range and insurance requirements.
What are the best neighbourhoods for first-time buyers?
Areas with lower entry prices and strong transit access are drawing the most first-time buyer interest right now, including condo and townhouse markets near the Ontario Line corridor (Leslieville, Riverside) and value-oriented Durham Region cities like Oshawa and Ajax.
Should I buy a condo or a freehold townhouse?
Condos average $639,468 across the GTA versus $840,608 for townhouses, so the choice often comes down to budget, maintenance preference, and whether ongoing condo fees fit your monthly costs better than the higher upfront price of a freehold.
How much is my home worth in today's market?
Home values depend heavily on city, home type, and condition — the GTA-wide median is $910,000, but that ranges from roughly $665,000 in Oshawa to over $1.38M in Oakville. A comparative market analysis using recent neighbourhood sales gives the most accurate figure.
Should I sell now or wait for interest rates to drop?
New listings are down 18.9% year-over-year, which is currently reducing competition for sellers — waiting for lower rates could mean facing more competing listings once other sellers re-enter the market. The right answer depends on your personal timeline and equity position.
How long will it take to sell my home in the GTA?
The GTA average is 42 days on market (PDOM), though this varies by city and price point — homes in Ajax and Whitby are moving in roughly 30-34 days, while higher-priced Oakville listings average 51 days.
What is the average rental yield in the GTA?
Average rental yields across the GTA currently sit in the 3-5% range, with stronger numbers typically found in lower-entry-price markets like Durham Region compared to higher-priced 416 condos.
What is the impact of the Ontario Line on property values?
Properties near future Ontario Line stations are holding value better than the broader GTA average, and areas like Leslieville and Riverside have seen a 15-20% increase in buyer search interest tied to the project.
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