Toronto home prices in 2026 get passed around in headlines constantly. “Prices are down.” “The correction continues.” “Now is the time.” Each of those statements has some truth in it. None of them tells the full story.
Yes, prices across the GTA have pulled back from their peak. But by how much — and what it actually means for your situation — depends entirely on what type of home you’re looking at, where it is, and what you’re comparing to.
The average tells you the direction. The details tell you whether any of it matters for you.
Toronto Home Prices 2026: The Overall GTA Picture
The GTA average selling price as of April 2026 is $1,051,969 — down 4.9 percent year-over-year. The MLS Home Price Index composite is down 6.6 percent over the same period.
Those are real numbers. But they’re broad averages applied to a market that includes everything from a one-bedroom condo in Liberty Village to a detached home in Oakville. The more useful conversation is what’s happening by property type.
| Property Type | Avg. Price (GTA) | Avg. Price (416) | YoY Change |
|---|---|---|---|
| Detached | $1,372,688 | $1,668,973 | −4.1% |
| Semi-Detached | $1,033,469 | $1,286,166 | −5.2% |
| Townhouse | $839,509 | $958,029 | −7.9% |
| Condo Apartment | $635,653 | $665,507 | −6.3% |
Source: TRREB MLS® System, April 2026. Broad averages — individual properties and areas vary.
Detached Homes: Real Corrections on Large Numbers
Detached homes average $1,372,688 across the GTA and $1,668,973 within the 416 — both down 4.1 percent year-over-year.
For buyers who spent the last few years feeling permanently priced out, that shift is meaningful. A 4 percent correction on a $1.6 million home is over $60,000 in real purchasing power change. That’s not an abstract number — that’s a meaningful difference in what you can buy.
Detached home sales in the 416 were also up 6.6 percent year-over-year in April, which tells you something. Buyers who have been waiting for detached homes to become more accessible are starting to move.
Condos: The Softest Part of the Market
Condo apartments have averaged $635,653 across the GTA in April — down 6.3 percent year-over-year. In the 416 specifically, the average sits at $665,507.
The supply picture adds more context. The condo segment is sitting at 5.4 months of inventory — the highest of any property type — which puts meaningful downward pressure on prices and gives buyers in this segment the most negotiating leverage of any category right now.
Not all condos are equal. A well-maintained unit in a financially sound building is a different conversation from one with deferred repairs and rising maintenance fees. The price might look similar on paper. The underlying value is not.
If you’re buying in this segment, digging into the status certificate and understanding a building’s financial health matters more right now, not less.
Townhouses: The Biggest Price Correction
Townhouses saw the steepest year-over-year price decline of any property type in April — down 7.9 percent to an average of $839,509 across the GTA. In the 416 specifically, townhouses averaged $958,029.
For buyers who want more space than a condo but aren’t ready to stretch to a semi-detached or detached price, the townhouse segment is worth a close look right now. The correction is real and the entry point has shifted meaningfully compared to a year ago.
Semi-Detached: The Quiet Outlier
Semi-detached homes tell a different story. While most segments are firmly in buyer’s territory, semis are behaving closer to a balanced market.
In April 2026, there were 563 semi-detached sales against 1,205 new listings — a sales-to-new-listings ratio of 46.7 percent. The overall GTA SNLR sits at 34.6 percent. The semi-detached segment is running considerably tighter than the broader market.
Prices reflect that. Semi-detached homes averaged $1,033,469 across the GTA and $1,286,166 in the 416, down 5.2 percent year-over-year — the softest price correction after detached homes.
Buyers waiting for significant semi-detached corrections in core Toronto neighbourhoods may be waiting for something that doesn’t materialize the same way it has in the condo or townhouse segments.
Detached
$1,372,688 Down 4.1% YoYGTA average. 416 at $1,668,973. Sales up 6.6% in city core.
Townhouse
$839,509 Down 7.9% YoYSteepest price correction of any segment in April.
Condo Apartment
$635,653 Down 6.3% YoY5.4 months inventory. Most buyer leverage of any type.
Semi-Detached
$1,033,469 46.7% SNLR · Near BalancedTightest segment. Limited supply in core areas holding prices.
What the Averages Don’t Tell You
These benchmarks tell you which direction the market is moving. They are not a substitute for understanding what a specific home in a specific location is actually worth right now.
A semi in a tightly held central neighbourhood and one in a softer pocket are not having the same year. A well-located condo in a solid building with healthy financials and one with structural issues are not the same buy at any price point.
Average data tells you where the market is. Local knowledge tells you whether a specific property makes sense at a specific number.
For Sellers Right Now
The market is more honest than it was. Overpriced homes don’t disappear behind low supply anymore — they accumulate days on market and often end up selling for less than they would have with realistic pricing from day one.
For sellers who price correctly and present their homes well, transactions are still happening. It takes more strategy than it did a few years ago. That’s not a crisis — it’s a recalibration.
For Buyers Right Now
Price corrections — especially in the condo and townhouse segments — represent a meaningful change in what your money can get you compared to a year ago. The caveat is that not every discounted home is a good buy.
Understanding what you’re actually purchasing, at this specific price, in this specific building or location, matters more now than it did when the rising tide was moving everything upward.
Frequently Asked Questions
Has the Toronto real estate market crashed?
Prices have declined meaningfully from their peak. The GTA average selling price is down 4.9 percent year-over-year to $1,051,969, and the MLS Home Price Index is down 6.6 percent. That is a real correction — but not a collapse. The market is resetting after years of exceptional price growth, and most segments are still actively transacting.
What is the average home price in Toronto in 2026?
The GTA average selling price as of April 2026 is $1,051,969, down 4.9 percent year-over-year. Detached homes average $1,372,688 across the GTA and $1,668,973 in the 416. Townhouses average $839,509. Condos average $635,653. These are broad averages — individual properties and neighbourhoods vary considerably from these figures.
Which property type has seen the biggest price drop in Toronto?
Townhouses saw the steepest year-over-year price decline in April 2026 at 7.9 percent, followed by condos at 6.3 percent. Semi-detached homes held up best with a 5.2 percent decline and a sales-to-new-listings ratio of 46.7 percent — close to balanced market territory compared to the overall GTA reading of 34.6 percent.
Is it a good time to buy a condo in Toronto in 2026?
Condos are at their most accessible price point in recent years, with 5.4 months of inventory giving buyers real negotiating leverage. The risk is buying the wrong unit — a building with financial issues, deferred maintenance, or structural oversupply in its pocket. Price alone doesn’t tell you what you’re actually buying. Due diligence matters more right now, not less.
When will Toronto home prices go back up?
That’s genuinely uncertain, and anyone giving you a confident specific answer is guessing. What the April 2026 data shows is that average prices edged up month-over-month on a seasonally adjusted basis and the HPI was flat month-over-month — early signals that the steepest corrections may be stabilizing. The pace and timing of any broader recovery will depend on employment, borrowing costs, and how quickly sidelined buyers return.
Should I sell my home now or wait for prices to recover?
That depends on your personal timeline, what you’re moving into, and what the carrying costs of waiting look like for your situation. Sellers who price realistically and present their homes well are still transacting successfully. Waiting several years for a meaningful recovery carries its own real costs. The right answer is different for every situation — it starts with an honest conversation about your specific circumstances.
Sales Representative · Zolo Realty Brokerage · Licensed in Ontario (RECO #5035461)
Toronto real estate agent specializing in first-time buyers and families across the GTA. 80+ five-star reviews · 100+ clients · $25M+ in completed transactions.