Average Sale Prices of Detached Homes in August in Comparison to August of 2025:
• Toronto: -0.68% at $1.54M
• Vaughan: +6.76% at $1.70M
• Richmond Hill: -0.19% at $1.69M
• Mississauga: -10.02% at $1.27M
• Markham: +2.18% at $1.61M
• King City: -25.16% at $2.44M
• Newmarket: -3.06% at $1.14M
• Aurora: -7.30% at $1.46M
• Bradford: -4.57% at $951K
• Milton: +2.63% at $1.23M
• Stouffville: -4.68% at $1.35M
• Innisfil: -14.65% at $757K
• Alliston: -5.32% at $741K
• Burlington: +0.09% at $1.42M
• East Gwillimbury: -21.75% at $1.11M
• Barrie: -4.98% at $738K
• Oakville: -6.49% at $1.78M
Toronto real estate is down, but August’s numbers reveal an interesting twist. The GTA recorded 5,057 home sales, just 2.1% fewer than last August. Meanwhile, new listings dropped 14.1%, and available inventory fell more than 11%. The average selling price was $993,410, down 2.7%, with 79% of homes selling below asking. Buyers still had negotiating room, but the supply of homes was shrinking much faster than sales, a trend worth watching this fall.
The GTA isn’t one market, and local differences are significant. August’s average detached price was approximately $1.54 million in Toronto, $1.70 million in Vaughan, $1.69 million in Richmond Hill and $1.27 million in Mississauga. Toronto and Richmond Hill were relatively steady compared with last August, while Mississauga was down roughly 10%.
Rentals told another story: condo rents averaged about $2,661, with condos leasing in under 20 days while taking roughly 42 days to sell.
Financing and construction costs add another layer. The Bank of Canada held its overnight rate at 2.25%, but that doesn’t keep every mortgage rate steady: variable rates generally follow prime, while fixed rates respond more to bond yields.
New tariffs could also put pressure on construction and renovation costs. Yet the GTA benchmark price for newly built houses and townhomes fell 14.6% from last August. For anyone considering new construction, compare the complete package: price, incentives, closing costs and included upgrades.
For buyers, opportunities remain. For sellers, realistic pricing is essential. Buyers may be able to negotiate price, conditions, closing dates and repairs, although desirable homes can still attract competition.
Sellers need to price against recent comparable sales to attract serious interest.
The most useful takeaway? Your neighbourhood matters more than the headline. Thinking about buying or selling? Contact me for a closer look at your neighbourhood and the recent sales that matter to your home.
Want to know what's happening in your neighbourhood? Grab your free market report: https://tinyurl.com/August2026Stats
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