GTA real estate, September 2026: prices down 5%, listings pile up and buyers finally get room to negotiate

September is when the GTA wakes up from summer. This year the sellers woke up first. TRREB counted 16,500 new listings across the Greater Toronto Area, up 36.65% from August, and buyers didn't come close to matching that. Sales came in at 5,040, basically the same as August (-0.34%) and 9.87% fewer than September 2025.

The average selling price was $1,006,409. Down 5% from a year ago. Up 1.31% from August. Homes took 34 days on average to sell, about a day quicker than August and about a day slower than last September.

Put it together and you get lots of choice, demand that's steady but careful, and prices that have softened without falling off a cliff. About one home sold for every three that came to market. I've watched this market for 20 years, and that ratio means buyers have time and leverage. If you're selling, two things decide your fall: the price you start at and how the place shows. Here's how it looks city by city.

Are GTA home prices going up or down?

Down from last year, roughly level with summer. Every home type costs less than it did a year ago, just not by the same amount. Detached homes averaged $1,292,016 (-4.93% year over year, +0.26% from August). Townhouses came in at $907,849 (-4.23%). Condo apartments are the weak spot at $605,257, down 7.63% from last year, and they were the only type to slip again from August (-2%). Semis were the steadiest of the bunch: $1,015,202, flat with last year (-0.03%) and up 8.97% on the month.

If I were buying right now, I'd be shopping condos. Sales are flat and new listings are way up, which means you can keep financing and inspection conditions in your offer. Remember waiving everything just to get in the door? Not this fall. Sellers, semis are where the good news is. If you own a detached home, price it against what sold in the last 60 days, not what your neighbour got last spring.

By the numbers for Greater Toronto Area, September 2026: average selling price $1,006,409 (-5.0% year-over-year); 5,040 homes sold (-9.9%); 16,500 new listings (-14.3%); 34 average days on market. By type: Detached $1,292,016 (-4.9% YoY, +0.3% vs prior month), Semi-Detached $1,015,202 (-0.0% YoY, +9.0% vs prior month), Townhouse $907,849 (-4.2% YoY, +2.9% vs prior month), Condo $605,257 (-7.6% YoY, -2.0% vs prior month).

Is the Toronto housing market picking up this fall?

The city beat the region this month. Sales rose 9.62% from August to 1,937, and the average price climbed 5.58% to $1,034,320. Don't get too excited. Prices are still 5.1% below last September and sales are down 6.11%. New listings jumped 55.26% to 6,521, so buyers have about 3.4 new options for every home that sells. Average time on market: 33 days.

Semi-detached is the only Toronto segment above last year, averaging $1,207,884 (+2.22% year over year, +8.76% from August). Detached homes averaged $1,562,966, down 7.3%. That's roughly $123,000 less than a year ago on average, which is a full kitchen reno with money left over. Townhouses came in at $1,104,629 (-5.98%).

Condo apartments averaged $640,248, down 6% year over year and 1.75% from August. First-time buyer planning to stay five years or more? This is the most negotiable corner of the city. Selling a condo? Price it for this market on day one. I've watched too many listings start high, sit for weeks, then chase the market down one price cut at a time.

By the numbers for City of Toronto, September 2026: average selling price $1,034,320 (-5.1% year-over-year); 1,937 homes sold (-6.1%); 6,521 new listings (-9.2%); 33 average days on market. By type: Detached $1,562,966 (-7.3% YoY, +2.4% vs prior month), Semi-Detached $1,207,884 (+2.2% YoY, +8.8% vs prior month), Townhouse $1,104,629 (-6.0% YoY, +7.7% vs prior month), Condo $640,248 (-6.0% YoY, -1.8% vs prior month).

Why are homes taking longer to sell in Vaughan?

Vaughan's average price of $1,163,441 is exactly where it was a year ago (0%), though it's down 5.78% from August. Price isn't the story. Time is. Homes took 42 days on average to sell, up 31.25% from last year and 27.27% from August, the slowest of any market in this report. Sales fell to 213 (-18.08% year over year, -11.98% month over month) while new listings rose 23.95% from August to 735.

The split by home type is wild. Detached homes averaged $1,599,218, up 1.25%, which makes Vaughan the only detached market here above last year. Condos went the opposite way: $548,958, down 15.34% year over year and 9.66% from August. That's the steepest condo drop we track. Semis ($1,024,654, -7.37%) and townhouses ($992,857, -2.59%) land somewhere in between.

Buyers, 42 days on market means sellers are getting patient. Or tired. Either way, that's when negotiations open up, especially on condos. Detached sellers, your value is holding. Buyers are just taking their sweet time. Price it right and expect to wait a little longer than you'd like.

By the numbers for Vaughan, September 2026: average selling price $1,163,441 (+0.0% year-over-year); 213 homes sold (-18.1%); 735 new listings (-23.8%); 42 average days on market. By type: Detached $1,599,218 (+1.3% YoY, -4.3% vs prior month), Semi-Detached $1,024,654 (-7.4% YoY, +1.4% vs prior month), Townhouse $992,857 (-2.6% YoY, -5.9% vs prior month), Condo $548,958 (-15.3% YoY, -9.7% vs prior month).

Are Markham home prices still falling?

Markham's average price was $1,125,353, down 4.41% from last year and 6.89% from August, one of the bigger monthly drops in York Region. Sales fell 13.12% from August to 245 (-5.41% year over year), and new listings rose 24.83% to 729. Still, well-priced homes are moving, and faster than you'd think. The average of 34 days on market is actually 5.56% quicker than last year.

Detached homes are close to last year's level at $1,534,139 (-0.68%), though they're down 4.82% from August. The real discounts are lower down the price ladder. Townhouses averaged $977,959 (-12.22%). Semis averaged $1,019,322 (-11.47%, though up 6.39% on the month). Condos averaged $574,612, down 14.64% year over year and 9.98% from August.

Plenty of families gave up on Markham a few years back because they couldn't make the numbers work. Townhouses averaging under $1 million are a real way back in. Selling a detached home? You're in better shape than most sellers in the region. September did cool things off, though, so don't anchor on spring prices.

By the numbers for Markham, September 2026: average selling price $1,125,353 (-4.4% year-over-year); 245 homes sold (-5.4%); 729 new listings (-8.2%); 34 average days on market. By type: Detached $1,534,139 (-0.7% YoY, -4.8% vs prior month), Semi-Detached $1,019,322 (-11.5% YoY, +6.4% vs prior month), Townhouse $977,959 (-12.2% YoY, -5.2% vs prior month), Condo $574,612 (-14.6% YoY, -10.0% vs prior month).

Why did Richmond Hill prices drop more than 10%?

Richmond Hill had the largest annual price decline in this report. Average price: $1,189,203, down 10.23% from last year and 1.37% from August. Detached homes did most of the damage at $1,580,643, down 11.23% year over year and 5.23% on the month. Buyers didn't disappear, though. Sales rose 6.83% from August to 172 (-8.51% year over year), and new listings climbed 30.07% to 584. Homes took 36 days to sell, 9.09% longer than last year.

The rest of the market held up better. Townhouses averaged $1,068,119 (-3.58%), which actually puts them above semis at $1,044,875 (-4.49%). You don't see that every day. Richmond Hill condos were the most resilient condo market we track: $574,564, down just 1.79% from last year and up 6.7% from August.

Detached prices here average about 11% below last year. If you want a detached home in York Region, this is the clearest opening I see right now. Detached sellers, last year's sale down the street isn't your comparable anymore. Recent sales are.

By the numbers for Richmond Hill, September 2026: average selling price $1,189,203 (-10.2% year-over-year); 172 homes sold (-8.5%); 584 new listings (-10.8%); 36 average days on market. By type: Detached $1,580,643 (-11.2% YoY, -5.2% vs prior month), Semi-Detached $1,044,875 (-4.5% YoY, +0.5% vs prior month), Townhouse $1,068,119 (-3.6% YoY, +3.6% vs prior month), Condo $574,564 (-1.8% YoY, +6.7% vs prior month).

Is Aurora a buyer's market right now?

Aurora is a small market. Take the monthly swings with a grain of salt. The average price was $1,165,686, down 1.47% from last year and up 5.49% from August. Only 56 homes sold (-18.84% year over year, +14.29% from August), against 185 new listings, up 52.89% from August. Homes averaged 37 days on market, 15.62% longer than last year but nearly 12% faster than August.

Detached homes averaged $1,375,712 (-5.01% year over year, -6.25% from August). Townhouses rose 6.53% on the month to $911,555 (-2.1% year over year), and semis averaged $863,333 (-3.59%). Condos? $640,000, down 10.84% from last year but up 23.35% from August. With this few condo sales, a single deal can swing that number hard, so I wouldn't lean on it.

For buyers, Aurora's average detached price is more than $150,000 below the averages in Markham, Vaughan and Richmond Hill. That's not small change. For sellers, a small market means every listing gets noticed. Including the overpriced ones.

By the numbers for Aurora, September 2026: average selling price $1,165,686 (-1.5% year-over-year); 56 homes sold (-18.8%); 185 new listings (-16.7%); 37 average days on market. By type: Detached $1,375,712 (-5.0% YoY, -6.3% vs prior month), Semi-Detached $863,333 (-3.6% YoY, -0.9% vs prior month), Townhouse $911,555 (-2.1% YoY, +6.5% vs prior month), Condo $640,000 (-10.8% YoY, +23.4% vs prior month).

Why did Newmarket prices drop so sharply in September?

Newmarket has the lowest average price in this report at $915,986. It also had the sharpest monthly drop: down 12.62% from August and 8.59% from last year. Sales fell to 64, down 22.89% both year over year and month over month. There were 234 new listings, the same as last September but 46.25% more than August. Homes averaged 33 days on market, 10.81% faster than last year.

Detached homes averaged $1,055,125 (-8.63% year over year, -7.93% from August) and townhouses $778,889 (-5.19%). Condos averaged $535,120, down 10.29% year over year and 19.01% from August. Semis were the only segment above last year, at $833,750 (+3.79%). Semis again, same as Toronto.

For buyers, the average detached home here costs about $237,000 less than the GTA detached average. For a growing family that's not a rounding error. Sellers, there are 46% more new listings than in August and fewer sales, so buyers have options. Price competitively from the start. If you want to know what these numbers mean for your street, call us and we'll pull the recent sales on your block.

By the numbers for Newmarket, September 2026: average selling price $915,986 (-8.6% year-over-year); 64 homes sold (-22.9%); 234 new listings (+0.0%); 33 average days on market. By type: Detached $1,055,125 (-8.6% YoY, -7.9% vs prior month), Semi-Detached $833,750 (+3.8% YoY, +0.5% vs prior month), Townhouse $778,889 (-5.2% YoY, -8.0% vs prior month), Condo $535,120 (-10.3% YoY, -19.0% vs prior month).