As of February 2026, the Greater Toronto Area housing market was softer and smaller at the same time. The Toronto Regional Real Estate Board recorded 3,868 sales that month, about 6% fewer than in February 2025, while new listings fell 17.7% year over year and the average selling price came in roughly 7.1% below a year earlier.
I am Moe Asgarian, a real estate broker working in Toronto and the GTA, and this is what I saw in my own deals through the first two months of 2026. A market like this one confuses people, because the usual signals point in opposite directions.
Sales and listings in the GTA, February 2026
There were 3,868 transactions on the Toronto Regional Real Estate Board in February 2026, about 6% below February 2025. That comparison needs context. February 2025 was not a strong month either, and it was already well down from the February before it. So a further drop in 2026 says the GTA market was not in good health.
New listings tell the other half of the story. They were 17.7% lower in February 2026 than at the same point in 2025. In February 2026 active listings were down too, by about 2.4% compared with the same time a year earlier. There was a local reason as well. Toronto and the GTA had a run of snowstorms that month, and sellers do not like listing in a storm. They wait for better weather so buyers can come and see the house properly.
Fewer new listings means fewer real choices for buyers
When new listings drop faster than sales, inventory shrinks. In practice that means fewer homes people actually want to buy. Buyers in February 2026 were choosing from a thinner shelf, which is why the market felt slow and tight at once. If that trend held through the rest of 2026, overall supply would keep tightening, although it was still early in the year to call it.
Average Toronto prices by home type in February 2026
Across all home types in the GTA, the average price in February 2026 was about 7.1% lower than in February 2025. Month to month it ticked up slightly from January 2026, which is normal. February is almost always above January.
In the City of Toronto in February 2026, a detached home still averaged above 1.5 million dollars. In that same month, and in the same city, a semi-detached averaged a little over 1.2 million dollars, a townhouse averaged 980,000 dollars, and a condo about 660,000 dollars. In February 2026, measured against February 2025, detached homes in the city were about 11% cheaper, semi-detached homes and townhouses about 4.6% cheaper, and condos about 8.1% cheaper.
Where the openings were, especially two-bedroom condos
Those numbers describe a buyer's market in every segment in February 2026, more so than a year earlier. But months of inventory in Toronto and the GTA varies street by street and product by product, so the headline number is not the number that matters for your purchase. In the City of Toronto in early 2026, two-bedroom condos were a good market for buyers. Condo prices were coming down, and many buyers were using that to move up to something larger.
What I saw in our own transactions over January and February 2026 is that correctly priced properties still sold close to their asking price. A soft market has not changed that.
What I tell buyers and investors in a market like this
Getting a discount is not the same as making a good purchase. The job is to find the real value of the home and buy at that number or better. In a market where pricing is uneven, an accurate estimate of what a condo or a house is worth matters more than the size of the price cut.
If you are buying as an investment, my read in early 2026 was that the year would keep moving in the buyer's favour. So do not rush, but stay active. Good options came to market in those months and more kept coming, and they go to the people who are watching.
If you want to talk through what this market means for your own purchase or sale, fill out the form at the bottom of this page or book a free consultation. Stay well and take care.
Frequently asked questions
How many homes sold in the GTA in February 2026?
The Toronto Regional Real Estate Board recorded 3,868 transactions in February 2026, roughly 6% fewer than in February 2025. February 2025 was itself a weak month, so the 2026 figure represents a second straight year of decline.
What was the average condo price in Toronto in February 2026?
About 660,000 dollars in the City of Toronto in February 2026, roughly 8.1% lower than in February 2025. In that same month a detached home averaged above 1.5 million dollars, a semi-detached a little over 1.2 million dollars, and a townhouse 980,000 dollars.
Was February 2026 a buyer's market in Toronto?
Yes. In February 2026 every segment leaned further toward buyers than a year earlier, with average prices about 7.1% below February 2025. Inventory levels still differed by neighbourhood and property type, and correctly priced homes continued to sell close to asking.