Estimated reading time: 11 minutes
Last updated: — includes TRREB’s actual first-half 2026 results, not just the outlook we published in January.
Explore Toronto’s real estate market year by year, from the 2019 recovery through the current 2026 market — with the actual sales and price figures behind each year, not just the narrative.
For downloadable PDF versions of our reports, visit our market report downloads page.
GTA Home Sales and Prices, 2019–2025
Source: TRREB Historic Statistics, all-home-types annual GTA figures. 2025 sales and price cross-checked against CBC’s coverage of TRREB’s year-end report.
2026 (Year to Date)
TRREB called 2026 “a year of two halves,” and six months in, that’s exactly how it’s played out. January opened weakly — 3,082 sales, down 19.3% year-over-year, with the average price at $973,289. By June, the picture had flipped: 6,770 sales, up 9.4% year-over-year, even as the average price ($1,058,658) was still down 3.9% from June 2025. New listings have fallen sharply all year (down 12.9% year-over-year in June), which is tightening supply even as buyers return.
TRREB President Daniel Steinfeld summarized the shift plainly: sales accelerated through Q2 “following TRREB’s 2026 outlook, which called for a year of two halves,” with the board expecting “more competition between buyers in the last six months of the year” and a possible return to price growth if conditions keep tightening.
What this means in practice: volume is recovering faster than price. If you’re planning to sell, current data suggests waiting for continued H2 momentum may work in your favour — though nobody, including TRREB, is promising it. If you’re buying, the window of negotiating leverage that defined 2024–2025 is narrowing, not widening.
TRREB’s full-year 2026 forecast: 60,000–70,000 sales, with an average price in the $1.0 million–$1.03 million range.
Home Valuation Tool
Wondering what your property is actually worth in today’s market — not last year’s? Get an estimate based on current conditions.
2025
2025 was the year the market’s “price discovery” phase actually completed — and it was rougher than TRREB itself expected. In February 2025, TRREB forecast 76,000 sales and an average price of $1,147,000 for the year. The actual result: 62,433 sales — down 11.2% from 2024 — at an average price of $1,067,968, down 4.7%. New listings, meanwhile, rose 10.1% to 186,753, giving buyers more selection than sellers had leverage.
The condo segment absorbed the brunt of the correction. A large volume of condo units from the 2020–2021 construction cycle completed just as demand cooled, adding rental supply while investor-owned units flooded the resale market. Our own Fall 2025 rental market report found average one-bedroom condo rents at $2,259/month, with only 9.7% of listings leasing above asking — a sharp reversal from the bidding-war conditions of 2022–2023.
Low-rise housing held up better than condos, but transaction activity was selective — quality, location, and condition mattered more than market momentum. Rental market conditions softened for the same reasons: slower immigration, a wave of new supply, and expanding tenant choice, particularly downtown.
2024
2024 closed at 70,274 sales, with an average price of $1,120,241 — a modest 1.0% dip from 2023, masking real divergence within the year. New listings consistently outpaced sales for most of 2024, reinforcing buyer leverage, particularly in the condo sector, where investor-owned units combined with rising carrying costs pushed listings up and lengthened absorption times.
By November 2024, conditions had genuinely tightened: sales jumped 40.1% year-over-year to 5,875 units as borrowing costs fell, pushing the average price to $1,106,050 — up 2.6% from November 2023. TRREB had forecast 77,000 sales for the year back in late 2023; the actual 70,274 came in below that, though the late-year acceleration set up real optimism heading into 2025 that ultimately didn’t fully materialize.
Low-rise housing values stabilized rather than declined, favouring properties with genuine design and location advantages over standardized inventory.
2023 — Rate Shock and Recalibration
2023 was defined by the Bank of Canada’s aggressive rate-tightening cycle finally working through the system. January 2023 sales came in at just 3,100 — down 44.6% from January 2022 — with the average price down 16.4% year-over-year to $1,038,668. By April, conditions had begun to stabilize: 7,531 sales (down a much smaller 5.2% year-over-year), with prices firming to $1,153,269 as new listings fell 38.3% year-over-year and tightened competition.
The year closed at 69,888 sales and an average price of $1,131,219, down 5.2% from 2022’s average as the rate-shock correction fully worked through pricing. Detached and low-rise housing saw the most pronounced price adjustment through the year, while condos and condo-townhomes corrected more modestly. Rental demand stayed strong throughout, supported by continued housing supply constraints and extended Landlord and Tenant Board timelines shaping landlord risk management.
2022 — Peak Pricing and Early Cooling
2022 opened at the top of the cycle and ended in the first real cooling phase. April 2022’s average price hit $1,250,704 — a level the market has not revisited since. For the full year, GTA REALTORS® reported 79,588 sales at an average price of $1,193,766, up 8.7% from 2021 — the last full year of pre-correction price growth, even as the Bank of Canada’s tightening cycle began mid-year and cooled the back half.
Price growth was steepest in low-rise housing before the cooling took hold; sales-to-new-listings ratios early in the year still reflected an aggressive seller’s market. As the year progressed, housing starts and building permits declined and the first structural signals of a shift emerged. The rental market, by contrast, continued recovering from its 2020–2021 correction as in-person work and school resumed, with stronger performance in larger units and single-family rentals than in smaller condos.
2021 — Post-Shock Divergence
2021 was the record year: 127,312 home sales — the highest annual total on TRREB’s record — at an average price of $1,098,088, up 18.5% from 2020. But the headline number masked a sharply divided market. Low-rise and suburban housing saw intense demand and aggressive bidding as buyers prioritized space and privacy under continued low interest rates, while the downtown condo market faced the opposite: elevated vacancy, softer lease rates, and rising inventory pressuring smaller, investor-owned units.
Limited Landlord and Tenant Board activity and temporary eviction restrictions added operational complexity for landlords managing vacancies and tenant transitions through the year.
2020 — COVID Impact
2020 opened with price growth continuing from 2019’s momentum, then was abruptly disrupted by the onset of the pandemic. For the full year, GTA REALTORS® reported 101,096 sales at an average price of $926,340, up 13.9% from 2019 — a number that reflects a genuinely uneven year, with an early-year pause followed by a strong rebound once public health uncertainty eased. The rental market was hit harder and for longer: leasing activity slowed, rent increases met resistance, and vacancies became harder to fill as showings paused. 2020 was a year of interruption rather than collapse, and it set up the structural shifts — remote work, space over density — that defined 2021.
2019 — Stabilization
2019 closed the decade on a stabilizing note: 94,044 sales at an average price of $812,989, up 3.7% from 2018. The year began with hesitation driven by global economic uncertainty and negative coverage of other Canadian markets, but momentum returned by mid-summer — sales rose meaningfully year-over-year, prices firmed modestly, and demand began outpacing new inventory heading into fall. Condos and ground-oriented housing showed the most resilience; detached homes faced continued price pressure. 2019 set the stage for the tighter supply conditions that would follow.
Frequently Asked Questions
GTA home sales have ranged from roughly 62,000 to over 127,000 annually in recent years, according to TRREB. 2021 was the record year at 127,312 sales; 2025 was one of the slowest recent years at 62,433. TRREB’s 2026 forecast calls for 60,000 to 70,000 sales for the full year.
Partially, and unevenly. TRREB describes 2026 as “a year of two halves”: January sales were down sharply year-over-year, but by June, sales had rebounded to a 9.4% year-over-year increase, even as the average price was still down 3.9% from June 2025. Volume is recovering faster than price — TRREB expects prices to firm up only if the second half of 2026 continues tightening as forecast.
2025 was one of the weaker recent years for the GTA market: 62,433 home sales, down 11.2% from 2024, at an average price of $1,067,968, down 4.7%. This came in well below TRREB’s own early-2025 forecast of 76,000 sales and a $1,147,000 average price, reflecting a market that took longer to recover than industry forecasters expected.
Related: Toronto Rental Market Report – Fall 2025 Insights · Mortgage Payment Calculator · Rent Increase Calculator
