September 2026 Housing Market Review: A Quieter Fall Market, More Room to Negotiate

Ontario's housing market entered the fall season with softer sales activity, cautious buyers and varying price trends across communities. September's figures from regional real estate boards suggest that while affordability and economic uncertainty continue to influence decisions, opportunities remain for buyers and sellers who understand their local market.

Greater Toronto Area: Sales and Prices Decline

According to the Toronto Regional Real Estate Board (TRREB), the GTA recorded 5,040 home sales in September 2026, a 9% decline compared with September 2025.

The average selling price was $1,006,409, down 5.1% year-over-year, while the MLS® Home Price Index benchmark declined 4.7%.

New listings totalled 16,500, representing a 14.4% annual decline. These figures reflect a market where buyers remain cautious amid concerns about employment, inflation and borrowing costs.

Halton Region: A Mixed Market

The Oakville, Milton and District Real Estate Board (OMDREB) reported slower sales across much of Halton, although prices varied by municipality and property type.

In September:

• Oakville: The average single-family home price was $1.70 million, down 4.2% year-over-year. Townhouse and condominium prices averaged $937,537, up 9.8%.

• Milton: Single-family homes averaged $1.25 million, down 2.6% annually, while townhouses and condominiums averaged $724,651, down 5.4%.

• Burlington: Single-family homes averaged $1.33 million, up 7.0% year-over-year, despite a 25.4% decline in transactions.

• Halton Hills: Single-family homes averaged $1.15 million, down 15.9% from September 2025.

Across Halton, new listings increased from August, giving buyers additional options even as sales activity slowed.

Beyond the GTA: A Slower Pace

The Cornerstone Association of REALTORS®, using ITSO MLS® data, reported 1,171 home sales in September, down 17.8% from the previous year and 8.2% from August.

New listings increased compared with August, but remained 18.8% below September 2025.

This suggests that slower activity is not limited to Toronto and Halton, although individual markets continue to perform differently.

Canada's Broader Housing Picture

The Canadian Real Estate Association's latest available national report, covering August 2026, showed home sales declining 0.7% from July.

The national average home price was $668,219, an increase of 0.6% compared with August 2025.

September's national figures are scheduled for release on October 16.

What Does This Mean for You?

For Buyers: Softer competition and additional listings in some communities may create opportunities to negotiate. However, financing readiness and neighbourhood-specific research remain essential.

For Sellers: Accurate pricing, effective presentation and realistic expectations are increasingly important. Properties must be positioned competitively to attract serious buyers.

For Investors: Lower prices in certain markets may create opportunities, but rental demand, carrying costs and long-term returns should guide investment decisions.

Looking Ahead

As we enter the final months of 2026, one message stands out: there is no single Ontario housing market. Conditions differ by city, neighbourhood and property type.

At Charissa Realty, we believe informed decisions begin with reliable information and a clear understanding of your goals.

Whether you're buying, selling or investing, connect with Charissa Realty to explore what today's market means for you.

Sources: TRREB September 2026 Market Watch, OMDREB September 2026 Market Report, Cornerstone Association of REALTORS® September 2026 Market Update, and CREA August 2026 National Statistics.