The Toronto Regional Real Estate Board (TRREB) has released its February housing data. Housing market conditions tightened compared to the previous year with sales down year-over-year, while new listings declined by a greater annual rate. The dip in new listings is consistent with recent polling results which show listing intentions are down for 2026.
A total of 3,868 home sales were reported through the MLS system in February, down 6.3% compared to the previous year. New listings also declined, falling 17.7% to 10,705. While both sales and listings were lower, active listings remained elevated at 19,314, keeping overall supply elevated and sustaining buyer leverage across most market segments. Inventory for the region now sits at 5 months.
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The average GTA home price sold at $1,008,968, representing a 7.1% year-over-year decline. The MLS Home Price Index (HPI) Composite Benchmark was down approximately 7.9% compared to February 2025 (-8.1% in Toronto), reinforcing that pricing has adjusted broadly rather than through changes in sales mix alone. Homes continue to take longer to sell, with days on market sitting at 36, a 33.3% increase from the same time last year. The average sale-to-list price was 97% for February.
The bulk of sales activity occurred in the mid-market price ranges, with 79% of transactions concentrated below $1.25 million. Sales over $2 million accounted for 5.3% of all transactions. In this segment, activity continues to be more selective, particularly where pricing expectations have yet to fully align with current market conditions.
Sales by Property Type
- Detached: $1,325,654 (↓ 8.2% year over year / ↑ 3.7% month over month)
- Semi-detached: $1,027,376 (↓ 5.8% YoY / ↑ 8.6% MoM)
- Townhomes: $844,862 (↓ 7.2% YoY / ↓ 3.6% MoM)
- Condominiums: $626,650 (↓ 13.0% YoY / ↓ 3.6% MoM)1
Detached homes accounted for the largest share of February sales (43.7%), followed by condominiums (28.0%), townhomes (18%), and semi-detached properties (8.8%). The consistency of year-over-year price declines across all housing types highlights a market-wide recalibration rather than softness isolated to a single segment.
February’s sales data continues to illustrate a market in transition. Inventory remains a defining feature, pricing is still adjusting, and buyers are exercising patience. At the same time, transactions are occurring, negotiations are active, and well-positioned homes are selling. Sellers who align pricing with current conditions are seeing results, while buyers benefit from choice and leverage.
If you are planning to buy or sell, recognizing how these conditions play out at the neighbourhood level is essential. The market continues to evolve, and thoughtful strategy and clear data continue to make a meaningful difference. A Christensen Real Estate Group sales representative can help you navigate these conditions with clarity, experience, and a strategy tailored to your goals.
For over 40 years, our clients have trusted us to minimize risk, offer unbiased opinions, and ensure their best interests are served. Contact us today to talk about your needs. Email us at evan@christensengroup.ca or call 416-722-4723.
