Living In Toronto's Westend

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Greater Toronto Area (GTA) housing market conditions continued to improve in June, with home sales rising year-over-year while new listings declined. For the first half of 2026, sales were slightly higher than during the same period in 2025, while new listings were significantly lower.

“After a slow start in the first quarter, we saw a marked improvement in home sales in the second quarter,” said TRREB President Daniel Steinfeld. “We expect stronger sales activity and increased competition among buyers in the second half of the year, helping satisfy pent-up demand and supporting renewed price growth.”

TRREB Chief Information Officer Jason Mercer noted that while average selling prices remained below last year’s levels, the rate of decline has eased in recent months. If market conditions continue to tighten, prices could stabilize and begin to increase, encouraging more households to re-enter the market.

GTA REALTORS® reported 6,770 home sales through TRREB’s MLS® System in June 2026, up 9.4% compared to June 2025. New listings totalled 17,282, down 12.9% year-over-year.

Seasonally adjusted data showed that June sales increased from May while new listings declined, indicating a tighter market through the spring.

The MLS® Home Price Index (HPI) Composite benchmark was down 5.4% compared to June 2025. The average selling price was $1,058,658, a decline of 3.9% year-over-year. On a seasonally adjusted month-over-month basis, both the average selling price and the MLS® HPI Composite increased slightly from May.

TRREB CEO John DiMichele emphasized that housing affordability remains a priority. He noted that development charges can account for up to 20% of a home's purchase price, increasing both ownership and rental costs. He added that the Canada–Ontario Development Charge Reduction Program offers municipalities an opportunity to lower these charges while receiving provincial funding to offset related costs.