What to know
- Toronto’s aggregate home price declined 2.7 per cent year over year in Q2 2026, reaching $,1,120,800, according to Royal LePage.
- GTA home prices fell 4.6 per cent year over year, with detached homes and condos both seeing declines.
- Royal LePage says a delayed spring market and tightening inventory could help boost activity in the second half of the year.
- Industry experts say economic uncertainty continues to keep some buyers on the sidelines despite improving market conditions.
Toronto’s housing market continued to see price declines in the second quarter of 2026, but a delayed spring market could help set the stage for a more active second half of the year, according to a new report.
According to the latest Royal LePage House Price Survey and Market Forecast, the aggregate price of a home in Canada decreased 1.4 per cent year over year to $814,900 in the second quarter of 2026.
The Greater Toronto Area (GTA)recorded one of the largest declines among major markets, with home prices falling 4.6 per cent year over year in Q2. Vancouver saw a similar decline of 4.5 per cent.
Despite the annual declines, the report noted that prices showed signs of stabilization on a quarterly basis.
Toronto home prices continue to decline
In the GTA, the median price of a single-family detached home decreased 3.6 per cent year over year to $1,396,500, while the median price of a condominium declined 5.7 per cent to $660,000.
Within the city of Toronto, the aggregate home price fell 2.7 per cent year over year to $1,120,800.
The median price of a detached home in the city dropped 9.8 per cent to $1,515,000, while condominium prices declined 2.5 per cent to $658,600.
Market expected to improve later this year
Royal LePage is forecasting that the aggregate price of a home in the GTA will decrease two per cent in the fourth quarter of 2026 compared with the same period last year.
However, some industry experts say market conditions are beginning to shift.
“After a slow start to the year, we are finally starting to see a turnaround in the GTA market,” said Shawn Zigelstein, broker and leader of Team Zold at Royal LePage Signature Realty.
Zigelstein said activity levels have improved month over month, while declining new listings are helping push prices upward. He added that the condo market has also shown early signs of improvement, with sales slightly higher than last year.
Despite the improving conditions, Zigelstein said economic uncertainty and geopolitical tensions continue to weigh on consumer confidence, leaving some buyers on the sidelines.
He added that many sellers are only listing their homes when necessary, contributing to lower inventory levels.
