Greater Toronto’s housing market is showing some signs of cooling in Early-Q3, with home sales hovering around 6,000—down just about 1% from last year, marking the first slowdown after four months of steady annual gains. Month-over-month, though, activity still ticked up by roughly 3%. The average selling price remains close to $1M, but the typical-home benchmark has dipped about 5% from last year, meaning buyers continue to have negotiating power across much of the GTA. Detached homes saw a slight 1% uptick in sales, while semi-detached, townhouses, and condos were either down or flat. Inventory is also shifting: new listings dropped to 14,500 (an 18% annual decrease), and active listings landed near 26,100—down 12%—so fresh options are becoming scarcer for buyers. With sales accounting for a greater share of listings, the board is noting that tighter supply could eventually reduce price flexibility and foster more balanced conditions if buyer confidence returns. As someone who’s been a consistent top producer since 2003, I keep a close eye on these shifts and what they mean for clients navigating this evolving market.
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