Toronto Real Estate Market Report, September 2026: Prices Down 5%, but the East End Sold at 109%

Updated October 2026 · September 2026 TRREB data

Toronto home prices are down, but not everywhere. In September 2026 the average GTA sale price was $1,006,409, down 5.1% from a year ago, according to the Toronto Regional Real Estate Board (TRREB). Over in the east end, homes in Leslieville and Riverdale (TRREB district E01) sold for an average of 109% of asking in 18 days. The Beach sold at 105% and the Danforth right at asking. Condos are slow and houses are fast, and that gap matters most if you're upsizing. Here are the real numbers from Candice Schott, Broker and co-founder of Schott & Co. at Royal LePage Signature Realty, Brokerage.

What happened to Toronto home prices in September 2026?

Across the GTA, sales and prices both came in lower than last September. TRREB reported 5,040 sales, down 9.0% year over year, and the average price slipped 5.1% to $1,006,409. The MLS® Home Price Index composite benchmark was down 4.7%. New listings fell even faster than sales, down 14.4% to 16,500, which is one reason the market didn't loosen further. In the City of Toronto, 1,937 homes sold at an average of $1,034,320, and the typical home sold for 99% of asking after 33 days on market.

September 2026	GTA (TRREB area)	City of Toronto
Sales	5,040 (down 9.0%)	1,937
Average price	$1,006,409 (down 5.1%)	$1,034,320
New listings	16,500 (down 14.4%)	6,521
Sold vs. asking	n/a	99%
Average days on market	34	33
Months of inventory	n/a	4.6

"Yes, this fall has been slower. Anyone telling you otherwise isn't being straight with you," says Candice. "But the headline is about the whole GTA. Your price is about your street."

Why did Leslieville and Riverdale sell over asking when prices are down?

Because the east end has fewer homes for sale than buyers who want them. District E01 (Leslieville, Riverdale, Riverside) had just 2.4 months of inventory in September, compared with 4.6 for the city as a whole. Under about 4 months usually means sellers hold the cards. The Beach (E02) was even tighter at 2.3 months and sold in 12 days on average.

September 2026	E01 Leslieville / Riverdale	E02 The Beach	E03 Danforth / East York
Sales	64	41	66
Average price	$1,223,544	$1,395,051	$1,122,091
Median price	$1,221,500	$1,275,000	$1,029,750
Sold vs. asking	109%	105%	100%
Average days on market	18	12	27
Months of inventory	2.4	2.3	2.7

One honest caveat: some of these homes were priced low on purpose to draw a crowd on offer night. "At 109%, that doesn't mean everyone got a nine percent bonus," Candice says. Semi-detached homes in E01 were the hottest slice of all, selling at 113% of asking in 12 days on average. For the street-level picture, see our Leslieville neighbourhood guide, Riverdale guide, Beach guide and Danforth guide.

Are condos or houses selling faster in Toronto right now?

Houses, by a wide margin. In the City of Toronto, condo apartments took 40 days on average to sell, at 97% of asking. Semi-detached homes took 21 days at 104%. Detached homes sold for 98% of asking, which means buyers can negotiate again. If you're upsizing from a condo to a house, you're selling in the slow market and buying in the fast one, a bit like merging onto the DVP at 5 o'clock.

City of Toronto, September 2026	Sales	Average price	Sold vs. asking	Avg. days on market
Detached	640	$1,562,966	98%	27
Semi-detached	211	$1,207,884	104%	21
Townhouse (freehold)	92	$1,104,629	102%	23
Condo townhouse	97	$749,653	98%	39
Condo apartment	884	$640,248	97%	40

The good news is the math nobody posts on Instagram. Say your condo is worth $700,000 and the house you want is $1.4 million. If both drop 5%, you lose $35,000 on your sale but save $70,000 on your purchase. You come out $35,000 ahead. "A soft market is where upsizers get room to move up," says Candice. The catch: it only works if you sell yours well and in the right order.

Should you sell first or buy first when upsizing in Toronto?

In this market, our usual answer is sell first with a longer closing. Buy first and you could be carrying two homes while your condo sits for 40 days, or 80 if it isn't priced well: two mortgages, two tax bills and zero sleep. Sell first and you walk into offer night with a firm sale in hand, which is the cleanest offer in the room when other buyers still have "subject to the sale of our home" conditions.

"Jason runs our buying side, and he loves walking into a house with a firm sale," says Candice. Once your sale is firm, bridge financing can cover the gap between closing dates. Your lender sets the terms, so talk to them early. Our Upsizing Calculator lets you compare both orders with your own numbers, including sale proceeds, land transfer tax and your new monthly payment.

How much land transfer tax will you pay on a $1.3 million Toronto home?

About $45,000. Buy inside the City of Toronto and you pay land transfer tax twice, once to Ontario and once to the City, and both use the same brackets up to $2 million. On a $1,300,000 purchase, that's $22,475 to the province plus $22,475 to the City, or $44,950 due in cash on closing. If you've owned a home before, the first-time buyer rebates don't apply.

Purchase price $1,300,000	Amount
Ontario land transfer tax	$22,475
Toronto municipal land transfer tax	$22,475
Total due on closing	$44,950

Rates: 0.5% up to $55,000, 1% to $250,000, 1.5% to $400,000 and 2% to $2,000,000, per the Government of Ontario and the City of Toronto. "Put it in the budget now, not at the lawyer's office," says Candice. This is an estimate, not legal or tax advice; confirm your numbers with your real estate lawyer.

How do you sell a condo in a slow market?

Three things move a condo when condos are sitting:

1. Price it for this market. Not for what your neighbour got in 2022. "The condos sitting for 60 days aren't bad condos, they're overpriced condos. I say that with love," says Candice.
2. Fix the small stuff first. Grout, bulbs, closets. Buyers notice the cheap fixes before they notice the beautiful ones.
3. Launch with a plan. Prep, photos, pricing and an offer strategy, not "let's list and see what happens." Hope isn't a strategy in this market.

You give us a budget, you give us your keys, and we take care of the rest. And if the numbers say don't move yet, we'll tell you that too.

What could happen in the Toronto market this fall?

The Bank of Canada raised its policy rate to 2.5% on October 28, 2026, its first increase since 2023 (here's what that means for your mortgage). Higher borrowing costs tend to hit condo buyers and investors first, since they're the most payment-sensitive.

Prediction: we expect the split to hold through the rest of 2026: well-priced freehold homes in low-inventory districts like E01 and E02 keep selling quickly, while condos stay a buyer's market with more room to negotiate. That's our read of the data, not a guarantee. We'll update this report when TRREB releases October numbers in early November. For every district in the city, check our Toronto Market Check, updated monthly.

Common questions about the Toronto market in September 2026

Are Toronto house prices going down in 2026?
On average, yes. The GTA average price was $1,006,409 in September 2026, down 5.1% from September 2025 according to TRREB, and the MLS® HPI benchmark was down 4.7%. But it depends on the home and the street. East end semis sold well over asking while condos sold below.

Is it a buyer's or seller's market in Toronto right now?
Both, depending on what you're buying. Condo apartments in the City of Toronto sold at 97% of asking after 40 days, which favours buyers. Semi-detached homes sold at 104% in 21 days, and Leslieville and Riverdale had just 2.4 months of inventory, which favours sellers.

Why are homes in Leslieville selling over asking?
Low supply. TRREB district E01 had 160 active listings and 2.4 months of inventory in September 2026, roughly half the city-wide level. Some homes were also priced below market to attract multiple offers, so the 109% average reflects pricing strategy as well as demand.

Is The Beach or the Danforth a better buy right now?
They're different markets. The Beach (E02) sold at 105% of asking in 12 days on average, so expect competition. The Danforth and East York (E03) sold right at asking in 27 days, which gives buyers more time and room to negotiate. The right choice depends on your budget, commute and the home you want.

Should I wait for prices to drop further before upsizing?
If you're selling a condo and buying a house, a softer market can work in your favour, because the dollar savings on the bigger purchase usually outweigh the loss on the smaller sale. Waiting only helps if house prices fall faster than condo prices, and in the east end they currently aren't.

How much land transfer tax do you pay on a $1.3 million home in Toronto?
About $44,950: $22,475 to Ontario and $22,475 to the City of Toronto, based on current provincial and municipal rates. Repeat buyers don't get the first-time buyer rebates. Confirm the exact amount with your lawyer.

How long are condos taking to sell in Toronto?
Condo apartments in the City of Toronto averaged 40 days on market in September 2026 and sold for 97% of asking, per TRREB. Overpriced condos are sitting much longer.

Who is Candice Schott?
Candice Schott is a Broker with Royal LePage Signature Realty, Brokerage, who co-leads Schott & Co. with Jason Schott, Sales Representative. Since 2005 they've sold more than 500 Toronto homes, with a focus on upsizers and first-time buyers in the east end.

Thinking about moving up in the next year?

We'll send you what actually sold on your street and your sell-by timeline. Or book a 15-minute call and we'll do the math together, no pressure, just a plan (and maybe a cookie). Get in touch with Candice and Jason.

Sources: TRREB Market Watch, September 2026 · Government of Ontario, Calculating land transfer tax · City of Toronto, Municipal land transfer tax rates · Bank of Canada, Policy interest rate

Market figures are TRREB averages for all home types unless noted and can vary widely by street and property. This is general information, not legal, tax or financial advice. Talk to your lender about bridge financing terms. Not intended to solicit buyers or sellers currently under contract.