At a glance: New listings across the GTA fell 17.7% in February 2026 while sales fell only 6.3%, to 3,868 homes. The average price was $1,008,968, down 7.1% from a year ago, and Toronto homes sold in about 36 days. Fewer listings started to shift the balance toward sellers ahead of spring.
February is a short month, but it told us a lot. New listings fell much faster than sales did, so the balance started to shift.
New listings dropped. 10,705 new listings came on the market across the GTA, down 17.7% from a year ago. Sales were down only 6.3%, to 3,868 homes.
Prices were still lower than last year. The average GTA home sold for $1,008,968, down 7.1%. In Toronto, detached homes averaged $1,568,543 and condos $663,984.
Homes started moving faster. Toronto homes sold in about 36 days, down from 45 in January. In Toronto East, homes sold for 102% of asking on average.
TRREB also pointed out that many buyers are still sitting on the sidelines, waiting for the right moment. When they come back, they'll be competing for fewer homes.
So what does this mean for you?
Buying? Prices are lower than a year ago, and you still have time to look around. If you've been waiting, now is a good time to get your mortgage approval in place so you're ready to act.
Selling? With fewer homes for sale, a home that is priced right and looks its best really stands out. Getting ready before the spring rush can work in your favour.
Want to know what your home could sell for this spring? Ask me for a free home evaluation and I'll walk you through it.
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Source: TRREB Market Watch, February 2026.