What the June 2026 TRREB data actually means for Toronto buyers and sellers
TRREB released its June housing data and the trend from spring is not slowing down. Sales came in at 6,770, up 9.4% year over year, the fourth consecutive month of gains. New listings fell 12.9% to 17,282, and active listings are down 13.5% from a year ago. The average price landed at $1,058,658, down 3.9% year over year. Homes sold in 29 days on average, at 98% of asking.
In May, prices were down 4.6% year over year. In June, that decline narrowed to 3.9%. The benchmark index tells the same story, from a 6.7% decline in May to 5.4% in June. And on a seasonally adjusted basis, both the average price and the benchmark actually ticked up compared to May. Prices are still lower than last year, but so far the gap is closing every month.
These are the early signs of a market recovery underway. It does not show up as a headline that says prices are up. It shows up as a sequence of months where sales climb, listings dry up, and the rate of decline keeps shrinking until it flips.
TRREB called 2026 a year of two halves back in January, and so far that is exactly how it has played out. A slow first quarter, a strong second quarter, and the first six months of 2026 now ahead of the same period last year on sales, with far fewer new listings. TRREB President Daniel Steinfeld expects more competition between buyers in the back half of the year as pent up demand works through a shrinking supply, ultimately resulting in renewed price growth.
By property type
Detached homes did the heavy lifting in June, making up 48% of all sales. The GTA detached average was $1,364,204, down just 2% year over year, the smallest decline of any segment. In the 416, detached actually averaged $1,648,440, essentially flat from last June. Semis averaged $1,038,973, down 4.6%. Townhouses came in at $844,579, down 3.1%. Condos remain the soft spot at $630,688, down 9.5%, but here is the twist: condo sales grew 14.3% year over year, the biggest volume jump of any property type. Buyers are stepping back into the segment where affordability improved the most.
The City of Toronto was the single largest market in the region, with 2,443 sales and $2.6 billion in volume at an average price of $1,081,375.
Where the market is tightest
The GTA average sales to new listings ratio sits at 36.5%. But averages hide the real story, because a handful of Toronto districts are running well above that, and they cluster in two places: the east end and the High Park corridor.
The Beaches leads the city at 48.7%. Riverdale and Leslieville are right behind at 47.8%, then the Junction and High Park North at 45.3%, and Danforth and East York at 44.4%. High Park and Roncesvalles sit at 41.8%. Several of these pockets are also selling at or above asking with the fastest days on market in the city.
This matters because tight ratios are where prices firm up first. Nothing in the city posted real year over year price growth in June. But if the second half plays out the way the data is trending, these are the neighbourhoods most likely to flip first. Demand there is already outrunning supply.
The macro picture
The Bank of Canada overnight rate is holding at 2.25%, which has kept borrowing costs meaningfully lower than they were two years ago. That affordability is what is pulling buyers back in, even with broader economic uncertainty still in the air.
My take
Based on May and June the market may have found a floor for now and is compressing. This is based on the fact that there are fewer listings, more sales, and prices stabilizing month over month. In the short term, I expect volatility to continue and nobody can promise the exact bottom. But the window where you can take you time, see everything, and negotiate without competition seems to be closing in the strongest neighbourhoods. Well priced and livable homes are already drawing multiple interested parties again.
Buyers in the market are asking wither the specific property they want is still available rather than whether prices might move another point or two.
Tamish Multani, Sales Representative PSR Brokerage