New home sales in Ontario surged 130% year-over-year in Q2 2026, reaching 8,410 sales, driven by an enhanced HST rebate offering up to $130,000 to buyers. This boost helped protect 17,300 construction jobs, preserve $2.8 billion in GDP, and maintain $1.4 billion in government revenues. Most sales were single-family homes, while condo sales remained below the 10-year average. Further economic gains are expected from upcoming cost reductions for builders.
In Early-Q3, Greater Toronto recorded ~6K home sales, ↓~1% yearly after four months of yearly gains, though activity still improved ↑~3% MoM.
Avg. selling price was ~$1M in Early-Q3, with the typical-home benchmark also ↓~5% yearly, showing buyers still held pricing leverage across much of Greater Toronto.
By housing type, detached sales edged ↑~1% yearly, while semi-detached sales ↓~6%, townhouses ↓~3%, and condo apartments were nearly flat in Early-Q3.
Supply tightened meaningfully: new listings fell to ~14.5K, ↓~18% yearly, while active listings reached ~26.1K, ↓~12%, reducing fresh options across Greater Toronto.
With sales taking a larger share of listings, the board said shrinking supply could gradually limit price negotiations and support balanced conditions if confidence improves.
July 2026 brought some notable shifts in York Region’s housing market. Home sales nudged up by 1.3% compared to last year, even as active listings dropped by 11.8%. The average home price now sits at $1.15 million—a 2% decrease from last month and 7.1% lower than last year. Detached homes saw more pronounced changes, with prices slipping 4.2% from June and 8.8% year-over-year. Condo prices moved in different directions depending on the building and location.
As someone who helps clients from first-time buyers to downsizers, I know how numbers like these can feel overwhelming. My focus is to guide you through every market shift with care and attention to detail, so you can navigate your next step with confidence. Your satisfaction is always my priority—and I’m here to help your real estate goals become reality.
