July 2026 GTA Housing Market Report: Inventory Drops 12%
The July numbers are in, and the story across the Greater Toronto Area is one of a market quietly rebalancing.
Sales activity was essentially flat compared to last July — 5,995 homes changed hands across all TRREB areas, down 0.9% year over year. But the supply side moved considerably. Active listings fell to 26,098, down 12.1% from the 29,705 available a year ago. That pulled months of inventory down to 4.35, compared to 4.91 last July.
In plain terms: buyers still have choice, but noticeably less of it than they did twelve months ago.
The average GTA sale price landed at $1,003,956 in July, 4.5% below last July's $1,051,600. Year to date, the average sits at $1,032,207 — down 5.1% from the same point in 2025. Homes took an average of 32 days to sell, up from 30 a year ago, and properties sold at 97% of list price on average.
Those two trends — softer prices alongside shrinking supply — are pulling in opposite directions. It's worth understanding both before drawing conclusions about where the market goes from here.
What's happening with supply
The listing drawdown is the most consistent signal in this month's data. Every market we track posted a year-over-year decline in active listings:
Brampton: down 19.1%
Oakville: down 15.2%
Toronto: down 13.5%
York Region: down 10.2%
Mississauga: down 9.2%
Durham Region: down 6.8%
Year to date, 102,566 properties have been listed across TRREB, compared to 120,911 over the same period in 2025 — roughly 18,000 fewer homes coming to market.
Sellers who have been waiting out the past two years of softer pricing appear to be continuing to wait. That reduces competition for those who do list, and it slowly removes the cushion buyers have enjoyed.
Region by region
City of Toronto — 2,242 sales in July, up 2.4% year over year, at an average of $1,010,836 (down 3.3%). Active listings dropped 13.5% to 9,310, with 4.15 months of inventory. Toronto is one of the few markets where sales rose while supply fell sharply. Condo sales came in at 1,054, up 3.3%, at an average of $672,807 — down just 1.6%, the mildest condo price decline among the markets tracked.
York Region — 1,063 sales, up 2.1%, at an average of $1,146,307. That's a 7.2% decline from last July, the steepest price drop of the regions covered. Active listings fell 10.2% to 5,179, leaving 4.87 months of inventory — the highest of the six markets. Year-to-date sales are up 6.9%, so buyers are transacting; they're simply doing it at lower price points than a year ago.
Mississauga — the softest month of the group. Sales fell 8.1% to 500, and the average price of $899,002 was down 9.6% year over year. Active listings declined 9.2%, but months of inventory sits at 5.04, the loosest in the group. The condo segment saw 124 sales, down 19.0%, at an average of $511,649.
Oakville — the outlier on price. Sales rose 9.7% to 248, and the average price of $1,412,619 was up 5.6% year over year. Active listings fell 15.2%, the second-largest drawdown of the group. Year to date, Oakville's average price is up 2.1% while most of the GTA is down 5% or more.
Durham Region — 725 sales, down 13.9%, at an average of $834,312 (down 5.7%). Months of inventory is the tightest in the group at 3.56, and days on market year to date rose 23.8% to 26 days — the largest increase of any market tracked. Durham remains the most affordable of the six.
Brampton — worth a mention for the volume shift: sales were up 16.4% to 498 while active listings fell 19.1%. The average price of $885,702 was down only 2.9%.
What it means
For buyers, the current conditions are still workable. Prices are below where they were a year ago in five of six markets, average selling prices are running at 97% of list, and borrowing costs are well off the highs of the 2023–24 period. There is room to negotiate.
For sellers, the shrinking listing count is the number to watch. Fewer competing homes means a well-presented, correctly priced property faces less competition than it would have last summer — though the pricing bar is still set by what buyers were willing to pay recently, not by 2022 peaks.
If listings keep contracting at this pace while sales hold steady, average prices could stabilise through the back half of the year. That's a conditional statement, not a forecast — the data supports the direction, not the timing.
If you'd like to know what these numbers look like for your specific neighbourhood, price range or property type, get in touch. Happy to run the figures for you.
Source: TRREB Market Watch, July 2026. Not intended to solicit those already under contract with another brokerage.
