The numbers for August 2026 are in and the market is back to being one that’s highly specific to the home type and area you either live or are interested in moving to.
In fact, it’s been that way for awhile, but each month that passes only reiterates that fact.
So, if you’re just looking for the highlights to stay on top of the market, here are the four things you need to know:
1. SALES ARE SLIGHTLY DOWN
This is the first month in awhile where sales dipped below the previous year, but it was a very small change (down only 2.3% from August 2025).
We’re still well below typical sales levels overall and demand does not seem to be picking up across most segments…yet.
2. NEW LISTINGS ARE DOWN AGAIN
If you’ve been scrolling for homes you’ve probably wondered where the hell are all the new listings?
They’re down once again 14.1% from last year. This is 6+ months in a row that new listings are down double digits from the previous year.
A large amount of sellers have decided they’re not ready to sell at 2026 prices.
3. PRICES ARE DOWN AGAIN
Even though inventory levels are tightening, prices continue to fall in some segments. For example, townhomes in Oakville are down nearly 11% from last year.
However, this is not the case for all home types.
For example, the median price of a Burlington detached home is flat. This is the most resilient market I’m seeing in the West GTA right now.
Other home types range from being down 4%-8% year over year across cities like Mississauga, Oakville, Halton Hills and Burlington.
Prices have been in this 4%-8% year-over-year drop for some time which is why we’re seeing prices fall back to nearly 2020 levels in some segments.
For more details, give me a call to discuss what you’re looking for.
4. PRICES ARE FORECASTED TO RISE
The Toronto Real Estate Board (TREB) believes that based on current conditions, prices will likely go up before the end of the year.
Will condo prices rise before the end of the year? Likely not.
Will entry-level detached and townhomes that are turnkey go up in price? Potentially, yes, since we’ve already seen those segments rise since the beginning of the year.
Keep in mind a lot of these stats are based on less than 40 sales, so there is variability in them.
The bottom line is that homes are cheaper than last year at this time, and TREB believes, on average, they will go up.
Me? I’m not personally seeing those signs just yet.
What’s actually going on right now?
There is demand in the market, but buyers continue to be very patient and wait for the right home.
Some sellers are trying to create competition by pricing low for multiple offers, and it is helping in certain segments and if the home is well presented and updated.
However, if buyers do decide to compete with others, conditions aren’t being removed and the prices offered haven’t gone up considerably.
For homes that are overpriced, they’re sitting on the market until sellers come back to reality.
There are also a lot of pricing games being played by agents right now. If you see a price that seems too good to be true, it probably is.
Reach out and I’ll tell you what’s going on.
What’s actually selling?
What I’m seeing is buyers waiting for that home that is priced well and in good condition. If so, it will still move very fast.
You’ll need to go see it day one or two.
And for homes that have been on the market but have been overpriced, there is still hope.
The right price reduction is bringing offers, but be prepared it might be lower than you had hoped for.
Price it right from day one.
What’s going to happen next?
It’s August now and many buyers and sellers are waiting for the Fall market to kick off.
However, I don’t see a huge influx of listings coming. So if you have the right type of property, there are buyers out there waiting. Just adjust your expectations to current day pricing.
For buyers, get ready to jump on aggressive pricing because you will have competition for the best homes.
What do you think will happen?
I want to hear from you. Leave a comment or give me a call/text at 647-464-1985 to chat.
If you have any questions, please contact me directly!
