Average Sale Prices of Detached Homes in September in Comparison to September of 2025:
• Toronto: -7.78% at $1.55M
• Vaughan: -3.56% at $1.54M
• Richmond Hill: -9.11% at $1.57M
• Mississauga: -4.35% at $1.28M
• Markham: -3.02% at $1.54M
• King City: +40.17% at $2.93M
• Newmarket: -7.99% at $1.06M
• Aurora: -8.95% at $1.35M
• Bradford: -15.02% at $973K
• Milton: -4.82% at $1.28M
• Stouffville: -6.58% at $1.33M
• Innisfil: -4.76% at $777K
• Alliston: -8.61% at $780K
• Burlington: +5.71% at $1.35M
• East Gwillimbury: +3.81% at $1.21M
• Barrie: +1.88% at $788K
• Oakville: -4.52% at $1.75M
If you've been following real estate news lately, you've probably noticed that almost every headline sounds negative! Falling sales, declining prices and growing uncertainty. But is the GTA housing market really doing that badly? September's numbers tell a more interesting story. Home sales dropped 9% compared to last year, while the average selling price declined 5.1% to approximately $1,006,000. Interestingly, new listings fell even faster, by more than 14%. Buyers are hesitant, sellers are holding back, and the market is anything but straightforward.
Here's where things get interesting! Not every city or property type is experiencing the same conditions. Toronto's average detached-home price fell almost 8% to $1.55 million, while Vaughan saw a more modest decline of 3.6% to $1.54 million. Meanwhile, Burlington actually recorded a price increase of nearly 6%! Semi-detached homes have also held up relatively well, with average GTA prices virtually unchanged from last year. It's a perfect example of why we can't judge the entire GTA housing market by a single headline.
The condo market, however, is facing considerably more pressure. Average resale condo prices dropped approximately 7.7% to $605,000, while headlines about newly built condos being sold in bulk at discounts reaching 45% have certainly raised eyebrows! Those are special transactions, not discounts available on every condo. Meanwhile, mortgage rates remain another concern. The Bank of Canada raised its benchmark rate to 2.5% on October 28, adding to buyers' worries about borrowing costs, job security and the overall economy. It's no surprise that many are taking a wait-and-see approach.
So, what does all this mean if you're thinking about buying or selling? Despite the uncertainty, there are some excellent opportunities for buyers who are financially prepared and willing to negotiate. For sellers, the days of simply putting a home on the market and waiting for offers are largely behind us. Accurate pricing, professional presentation, aggressive marketing and constantly adjusting the strategy are more important than ever. The market hasn't stopped moving; buyers have simply become much more selective. And remember, what happens across the GTA doesn't necessarily reflect what's happening in your neighbourhood. If you're curious about your home's current value or where your local market is heading, I'd be happy to help!
Want to know what's happening in your neighbourhood? Grab your free market report: https://tinyurl.com/September2026Stats
FUAD ABASOV | Real Estate Broker, ABR, SRS, RENE, E-PRO
Ranked Top 2% | Right at Home Realty, Brokerage
Direct: 647-801-3401 | BIO Link: https://bio.link/fuadhomes
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