Average home price by property type in Toronto
These are the average home prices by property type in Toronto updated with housing market data released March 2026 for the February 2026 period (source: TRREB).
| Home Type | Home Price | Y/Y Change |
|---|---|---|
| All Home Types | $1,008,968 | -7.0% |
| Detached | $1,325,654 | -8.3% |
| Semi-Detached | $1,027,376 | -4.9% |
| Att/Row/Townhouse | $930,779 | -6.1% |
| Condo Apartment | $626,650 | -8.9% |
Average home price in the Greater Toronto Area (GTA)
The GTA average home price across all property types was $1,008,968 in February 2026, down 7.0% from a year ago but up 3.7% from January 2026. The City of Toronto itself averaged $1,019,144 (up 7.4% month-over-month, down 6.2% year-over-year).
The GTA’s MLS HPI benchmark price was $938,800, down 7.9% year-over-year. In the City of Toronto, the benchmark was $920,400, down 8.1% from February 2025.
Want to see how much home you can afford in your preferred GTA region? Try our income to afford home calculator or mortgage affordability calculator.
| Area | Avg. Home Price | Y/Y Change |
|---|---|---|
| All GTA (TRREB) | $1,008,968 | -7.0% |
| City of Toronto | $1,019,144 | -6.2% |
How much income would it take to afford a home in Toronto?
The income it would take to purchase a home in Toronto varies widely based on the home type. This table shows how much household income it would take to afford a home based on February 2026 home prices.
| Home Type | Home Price | Mortgage | Income Required |
|---|---|---|---|
| All Home Types | $1,008,968 | $807,174 | $213,376 |
| Detached | $1,325,654 | $1,060,523 | $274,408 |
| Semi-Detached | $1,027,376 | $821,901 | $216,946 |
| Att/Row/Townhouse | $930,779 | $744,623 | $198,340 |
| Condo Apartment | $626,650 | $501,320 | $139,755 |
If you wanted to purchase the average detached home in Toronto it would take household income of $274,408 which is much higher than the average income in Toronto and the typical income in Canada. This income would put you in the top income percentile earners based on the Canada income percentile calculator.
The income to afford calculation uses the following inputs:
- Down payment of 20% to avoid mortgage default insurance
- Mortgage rate of 4.04%
- Amortization period of 25 years
- Gross debt service (GDS) ratio of 32%
- Property tax of $354 per month
- Heating costs of $150 per month
Toronto market metrics
These key metrics provide additional context for the Toronto housing market as of February 2026:
| Metric | Value | Year-over-Year Change |
|---|---|---|
| Total Sales | 3,868 | -6.3% |
| New Listings | 10,705 | -17.7% |
| Active Listings | 19,314 | -1.1% |
| Average Days on Market | 54 | +11 days |
| Sales-to-New-Listings Ratio | 36.1% | +2.6 pp |
| Months of Supply | 5.0 | N/A |
| Sale-to-List Price Ratio | 97% | -2 pp |
With the sales-to-new-listings ratio at 36.1% — still below the 40% balanced threshold — the Toronto market remains in buyer’s territory. Properties are taking an average of 54 days to sell (up from 43 days a year ago), and homes sold for an average of 3% below asking price. New listings declined sharply (-17.7% YoY), which may help tighten conditions heading into spring.
Key trends in the Toronto housing market
Buyer’s market conditions
Toronto’s housing market has firmly entered buyer’s territory, with 5.0 months of supply in February 2026. Prices remain well below their February 2022 peaks across all property types, and the benchmark home price is down 7.9% year-over-year. Homes are selling for an average of 3% below asking price and taking 54 days to sell — significantly longer than historical norms. While sales picked up seasonally from January, the underlying dynamic of too few financially qualified buyers at current price levels persists.
Pre-construction market
Toronto’s pre-construction condo market continues to face headwinds. Investor demand — which had driven much of the condo sector — has retreated amid higher carrying costs and slower rent growth. Several planned projects have been delayed or cancelled, and assignment sales remain common as investors seek exits. Condo apartments posted the largest year-over-year price decline (-8.9%) among all property types.
Population growth and demand
The Greater Toronto Area remains Canada’s primary destination for newcomers, with the region absorbing a significant share of the country’s immigration intake. This structural demand driver underpins long-term housing needs, though short-term market conditions continue to diverge from demographic trends as affordability constraints weigh on buyer activity.
Pent-up demand
According to TRREB, there are more than 100,000 would-be buyers in the GTA holding off on purchases, waiting for prices to stabilize and for clarity on trade relations with the United States. If new listings continue to trend lower and economic conditions improve, this pent-up demand could drive a meaningful recovery in sales during the second half of 2026.
Neighbourhood overview
The Greater Toronto Area encompasses a diverse range of neighbourhoods, each with distinct price levels and market dynamics:
- Downtown Toronto (C01, C08) — The condo-dominated core with the highest density. Average condo prices sit around $700,000–$750,000. Popular with young professionals and investors.
- Midtown (C02, C03, C04) — Neighbourhoods like Forest Hill, Rosedale, and Lawrence Park feature among the most expensive detached homes in Canada, often exceeding $2 million.
- North York (C06, C07, C14, C15) — A mix of older detached homes and newer condo developments. Areas along the Yonge corridor and near subway stations command premiums.
- Scarborough (E03, E04, E05) — Generally more affordable than the central city, with detached homes often $200,000–$300,000 below the citywide average. Growing transit investment is expected to support price growth.
- Etobicoke (W02, W05, W06, W08) — A mix of waterfront condos, suburban detached homes, and established neighbourhoods. Prices range widely depending on proximity to transit and the lake.
- 905 Regions — The surrounding municipalities of Mississauga, Brampton, Markham, Vaughan, Richmond Hill, Oakville, and others offer a range of housing types. Many buyers have moved to the 905 in search of more space at lower price points, though these areas have seen significant price increases as well.
Toronto’s double land transfer tax
Toronto is the only city in Ontario that levies a municipal land transfer tax (MLTT) in addition to the provincial land transfer tax (LTT). This means buyers in Toronto pay approximately double the transfer tax compared to other Ontario municipalities.
Ontario Provincial Land Transfer Tax:
| Purchase Price Bracket | Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,001 to $250,000 | 1.0% |
| $250,001 to $400,000 | 1.5% |
| $400,001 to $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
Toronto Municipal Land Transfer Tax (MLTT):
| Purchase Price Bracket | Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,001 to $250,000 | 1.0% |
| $250,001 to $400,000 | 1.5% |
| $400,001 to $2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
For a home purchased at Toronto’s average price of $1,008,968, the total combined land transfer tax would be approximately $31,000 — a significant closing cost that buyers must budget for. First-time home buyers in Ontario can receive a rebate of up to $4,000 on the provincial LTT, and Toronto offers an additional MLTT rebate of up to $4,475.
Use our land transfer tax calculator to estimate the exact amount you would owe, and our closing costs calculator to get a full picture of purchase costs.
Related Toronto housing calculators
If you are buying a home in the Toronto area, these calculators can help you plan:
- Mortgage Calculator — Estimate monthly payments on a Toronto home
- Mortgage Affordability Calculator — How much home can you afford?
- Income to Afford Home Calculator — Salary needed at different Toronto price points
- Mortgage Insurance Calculator — Calculate CMHC premiums for down payments under 20%
- Land Transfer Tax Calculator — Calculate Ontario + Toronto MLTT
- Closing Costs Calculator — Budget for all costs beyond the purchase price
- Mortgage Stress Test Calculator — Qualify under the stress test
- Mortgage Rates — Compare current Toronto mortgage rates
More housing market reports
- Ontario Housing Market — Provincial overview including all Ontario regions
- Hamilton Housing Market — Neighbouring market with lower average prices
- Ottawa Housing Market — Ontario’s second-largest market
- Waterloo Region Housing Market — Growing tech hub west of Toronto
- London Housing Market — Affordable alternative in southwestern Ontario
- Canada Housing Market Overview — National trends, prices, and provincial comparisons
- First-Time Home Buyer Guide — Programs, incentives, and step-by-step buying process
Data Sources
The housing market data in this report is sourced from: