Toronto-area condo sales and average prices were lower year over year in September 2026, according to figures reported by Canadian Mortgage Professional. The declines were sharper in the 905 than in the City of Toronto. The figures describe a weak month, not proof that the market is “doomed” or that prices must keep falling.
What happened to Toronto condo sales and prices?
Canadian Mortgage Professional reported that September condo apartment sales fell 5.5% year over year in the City of Toronto and 12.4% in the 905. It also reported average prices down 6.1% in Toronto and 12% in the 905. These are article-reported comparisons; the detailed September condo table in TRREB’s official release was not available in the accessible release text.
The same article put the GTA-wide condo apartment average at $605,257, 24.3% below February 2022. That is a comparison between average transaction prices at two points in time, not a measure of how much an identical condo lost in value. The mix of units sold can change the average.
Toronto and the 905: the reported figures
| Area | September condo sales, year over year | September average price, year over year |
|---|---|---|
| City of Toronto | Down 5.5% (Canadian Mortgage Professional, October 6, 2026) | Down 6.1% (Canadian Mortgage Professional, October 6, 2026) |
| 905 | Down 12.4% (Canadian Mortgage Professional, October 6, 2026) | Down 12% (Canadian Mortgage Professional, October 6, 2026) |
The 905 price decline was steeper in the reported figures. The comparison is between geographic segments and should not be read as a forecast for an individual property or neighbourhood.
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How the condo figures fit the wider GTA market
TRREB reported 5,040 sales of all home types across the GTA in September 2026, down 9% year over year, alongside 16,500 new listings, down 14.4%. Those totals cover houses and other property types as well as condos; they are not condo-only counts. TRREB also reported an all-home average selling price of $1,006,409, down 5.1%, and a GTA MLS Home Price Index composite benchmark down 4.7% year over year. The average price and HPI benchmark are different measures, and neither is a condo-only statistic.
For context, TRREB’s Q2 2026 condo apartment report recorded 4,783 sales, up 8.8% year over year; 14,042 new listings, down 19%; and 8,061 active listings at quarter-end, down 15.4%. The GTA condo apartment average selling price that quarter was $634,972, down 7.5% year over year. These quarterly figures provide context but are not a substitute for September’s detailed condo table.
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What the numbers do—and do not—say
Lower averages do not establish the loss on a specific condo
An average can move because prices changed, because the types or locations of units sold changed, or both. The reported September average-price declines therefore do not show that every comparable condo fell by the same percentage. A buyer or owner assessing a particular unit needs relevant local comparable sales and property-specific details.
One weak month is not a market-bottom call
The September figures establish year-over-year declines for that month, as reported by Canadian Mortgage Professional. They do not establish that every monthly indicator has worsened consecutively, identify a market bottom, or support a price forecast.
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The reported sales counts have a verification caveat
ViewHomes.ca’s secondary compilation, which attributes its data to TRREB, lists 1,316 GTA condo apartment sales in September: 884 in Toronto and 432 in the 905. It also lists average prices of $640,248 in Toronto and $533,654 in the 905. These detailed counts and averages were not checked against the official TRREB PDF table, so treat them as secondary figures rather than independently confirmed official segment totals.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Why buyers may be holding back
TRREB said uncertainty about the economy, inflation and borrowing costs was weighing on buyers. Its chief information officer, Jason Mercer, said would-be buyers wanted confidence that their employment would remain secure and that inflation would not put long-term pressure on borrowing costs. That is TRREB’s explanation for buyer hesitation, not a demonstrated breakdown of what caused the condo declines.
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Mercer also described substantial pent-up demand among households intending to buy in the months ahead. That signals potential demand, but it does not establish when those buyers will act or what prices will do.
Quick Recap
Sources and scope
- TRREB September 2026 Market Watch release, published October 6, 2026: all-home GTA totals and the board’s comments.
- Canadian Mortgage Professional’s September condo report, published October 6, 2026: reported condo submarket percentage changes and GTA average.
- TRREB Q2 2026 Condo Market Report overview, dated August 31, 2026: quarterly condo context.
- ViewHomes.ca September 2026 statistics, published October 6, 2026: secondary compilation of condo counts and averages attributed to TRREB.
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