GTA Home Sales Fall 19% in January 2026

Home sales in the Greater Toronto Area plunged nearly 20 percent in January 2026 compared to the previous year, signaling a sluggish start to the housing market amid ongoing affordability concerns and economic uncertainty.

The Toronto Regional Real Estate Board reported 3,082 homes sold through its multiple listing service last month, a 19.3 percent decrease from the 3,820 transactions recorded in January 2025. The average selling price fell to $973,289, down 6.5 percent from more than $1.04 million a year earlier. The MLS Home Price Index composite benchmark also declined by 8 percent year over year.

New listings added to the market totaled 10,774, a 13.3 percent drop from January 2025, reflecting reduced activity on the supply side. Active listings, however, rose 8.1 percent to 17,975, shifting market conditions further toward buyers. Properties took longer to sell, with the average time on market increasing to 45 days from 37 days the year before, and total days on market climbing to 67 from 55.

The downturn affected all major housing categories. Sales of detached homes decreased 13.6 percent, semidetached homes 19.2 percent, townhouses 23.7 percent and condominium apartments...