February 2026 GTA Housing Market Overview
The February 2026 housing statistics for the Greater Toronto Area reveal a market that continues to adjust following the rapid price growth and interest-rate changes of the past several years. While home prices declined compared with the same time last year, the supply of homes entering the market dropped even more sharply. This dynamic has begun to tighten overall market conditions, even though buyers still retain some negotiating leverage.
According to the February 2026 market data, 3,868 residential properties were sold across the GTA during the month. This represents a 6.3 percent decrease compared with February 2025. Despite the drop in transactions, the supply of new homes entering the market fell much more dramatically.
New listings declined to 10,705 properties, representing a 17.7 percent year-over-year decrease. When listing supply falls faster than demand, the market often begins to tighten. This is exactly what the February numbers suggest.
Although fewer homes were sold compared with last year, the reduction in new listings means that the overall level of inventory did not increase significantly.
Inventory Levels Across the GTA
At the end of February 2026, there were 19,314 active listings across the GTA housing market. This represents a 2.4 percent decline compared with the same month in 2025.
When comparing active listings with the number of homes sold during the month, the market had approximately five months of inventory. In real estate analysis, this level is generally considered a balanced market, though it still leans slightly in favor of buyers.
During the intense seller’s market conditions of previous years, inventory levels were significantly lower. The current level of supply indicates that buyers now have more options and more time to evaluate properties before making purchasing decisions.
However, the sharp drop in new listings could gradually shift the balance of the market if this trend continues.
GTA Home Prices Continue to Adjust
The average selling price across all home types in the GTA during February 2026 was $1,008,968. This represents a 7.1 percent decrease compared with February 2025.
Another key measure of home values is the MLS Home Price Index benchmark price, which attempts to measure the value of a typical home by controlling for differences in the mix of properties sold. The benchmark price across the GTA reached $938,800 in February 2026, representing a 7.89 percent year-over-year decline.
The fact that both the average price and benchmark price declined confirms that the price adjustment is not simply due to more lower-priced homes being sold. Instead, home values across many property categories have softened compared with last year.
Detached Homes Continue to Lead the Market
Detached homes remain the dominant segment of the GTA housing market. In February 2026, 1,683 detached properties were sold, representing the largest share of total transactions.
The average price of a detached home reached $1,325,654.
Other property types recorded the following average prices:
• Semi-detached homes: $1,027,376
• Freehold townhouses: $930,779
• Condo townhouses: $748,500
• Condo apartments: $626,650
These numbers illustrate the continued affordability gap between property types. While detached homes remain the most desirable housing option for many buyers, the price difference often pushes buyers toward townhouses and condominium units.
Condo Market Shows Larger Price Declines
The condominium sector has experienced the most noticeable price pressure over the past year.
The benchmark price for condominium apartments across the GTA declined approximately 9.5 percent year-over-year, making it the segment most affected by recent market adjustments.
Despite the price declines, condo apartments remain an essential entry point for first-time buyers and investors. With an average price of $626,650, condos offer a more accessible option compared with detached homes and freehold properties.
Regional Differences Across the GTA
Housing market conditions vary significantly across the different regions of the Greater Toronto Area.
Toronto
The City of Toronto recorded 1,491 home sales in February 2026, with an average price of $1,019,144. Inventory levels in the city remained close to the overall GTA average.
York Region
York Region recorded 683 transactions, with an average home price of $1,133,471. This region continues to attract buyers looking for larger suburban homes.
Peel Region
Peel Region reported 706 sales, with an average price of $933,616. Peel continues to offer relatively more affordable housing compared with Toronto and York.
Durham Region
Durham recorded 454 sales, with an average price of $850,304. Durham also had the tightest supply conditions, with approximately 3.5 months of inventory, indicating stronger demand relative to supply.
Market Conditions: Balanced but Buyer-Friendly
The February numbers suggest that the GTA housing market remains balanced but still slightly favorable to buyers.
The average sale-to-list price ratio was approximately 97 percent, meaning homes typically sold slightly below their asking price.
Additionally, homes required more time to sell compared with the previous year. The average listing days on market reached 36 days, while the average property days on market reached 54 days.
These longer selling times reflect a market where buyers have more time to negotiate and compare properties.
Outlook for the GTA Housing Market
Looking forward, the most important factor to monitor will likely be the relationship between supply and demand.
If the trend of declining new listings continues while buyer demand stabilizes or increases, the market could gradually tighten later in the year. On the other hand, if economic conditions weaken or borrowing costs rise further, price pressure could persist.
For now, the February 2026 numbers show a market that remains in transition, balancing lower prices with declining supply levels.
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