Greater Toronto Area home sales increased 9.4% in June compared to the same month last year, according to data released Thursday by the Toronto Regional Real Estate Board (TRREB). The board warned that continued tight supply could push prices higher in the coming months.
Sales activity and market conditions
TRREB reported 8,711 home sales in June, up from 7,962 in June 2025. The average selling price rose 2.3% year-over-year to $1,186,000. New listings totaled 15,914, a 5.1% increase from 15,139 last year, but still below historical averages for the month.
“The market remains well-supplied with listings compared to last year, but we are still seeing strong competition for well-priced homes, particularly in the condo and townhouse segments,” said TRREB President Jennifer Pearce. “As population growth continues and mortgage rates stabilize, we expect demand to remain robust.”
Price growth forecast
TRREB Chief Market Analyst Jason Mercer said the board anticipates moderate price growth in the second half of 2026. “With sales activity picking up and inventory not keeping pace, we could see upward pressure on prices, especially if mortgage rates decline further,” Mercer said. The board’s forecast aligns with recent trends, as the composite benchmark price edged up 1.1% month-over-month in June.
Regional breakdown
Sales rose across all housing types, with detached homes up 8.2%, semi-detached up 10.1%, townhouses up 11.5%, and condos up 7.8%. The strongest annual price gains were in the 905 regions, where average prices increased 3.4% to $1,102,000, while Toronto proper saw a 1.1% rise to $1,289,000.
Market outlook
Economists note that the Bank of Canada’s recent rate cuts have improved affordability, but high prices continue to challenge first-time buyers. “The market is showing resilience, but we need more supply to prevent prices from accelerating again,” said Robert Kavcic, senior economist at BMO Capital Markets. TRREB urged policymakers to focus on boosting housing supply to meet growing demand.
