February 2026 Toronto & GTA Real Estate Market Update

TRREB Market Watch • February 2026

The Toronto and GTA housing market showed modest stabilization in February 2026. While prices and sales remained below last year’s levels, fewer new listings helped improve overall market balance as we moved closer to the spring market.

📍 Toronto + GTA 📅 February 2026 🏷️ Market Update 👤 By Gagan Gill | Royal Canadian Realty

This report is based on the February 2026 TRREB market infographic and summarizes the headline stats, property-type performance, market balance, and practical implications for buyers and sellers.

February 2026 Market Highlights

February’s data showed softer year-over-year numbers, but there were early signs of improved market balance compared to the start of the year.

Average Selling Price

$1,008,968

↓ 7.1% YoY vs. $1,086,586 in February 2025

Home Sales

3,868

↓ 6.3% YoY vs. 4,127 in February 2025

New Listings

10,705

↓ 17.7% YoY vs. 13,004 in February 2025

SNLR

36%

Up from 32% year-over-year

Key takeaway: Even though prices and sales were still below February 2025, the drop in new listings improved the sales-to-new-listings ratio and pushed the market closer to balanced conditions.

What Happened in the GTA Real Estate Market in February 2026?

According to the February 2026 market stats, the average home price across Toronto and the GTA came in at $1,008,968. That was 7.1% lower than the same month last year, when the average selling price was $1,086,586.

A total of 3,868 homes sold during the month, which was 6.3% lower than February 2025. At the same time, 10,705 new listings hit the market, representing a 17.7% decline from the 13,004 new listings recorded a year earlier.

Because listing supply fell faster than sales, the sales-to-new-listings ratio rose to 36%, up from 32% in February 2025. That shift suggests the market remained buyer-leaning overall, but conditions improved compared to last year.

Average Price by Property Type

Different segments continued to perform differently across the GTA in February 2026.

Property Type	Average Price	Commentary
Detached Homes	$1,325,654	Detached homes remained the highest-priced segment and continued to drive upper-end market averages.
Semi-Detached Homes	$1,027,376	Semi-detached properties stayed just above the $1M mark, offering a mid-point between detached homes and townhouses.
Townhouses	$844,862	Townhouses continued to appeal to buyers looking for more space without detached-home pricing.
Condo Apartments	$626,650	Condos remained the most accessible entry point for many first-time buyers and downsizers.

Home Sales by Property Type

February 2026 total home sales: 3,868

Property Type	Sales
Detached	1,683
Semi-Detached	336
Townhouse	698
Condo Apartment	1,088

Condo apartments posted the highest sales volume after detached homes, reinforcing their continued importance for affordability-focused buyers in the GTA.

Sales-to-New-Listings Ratio (SNLR)

The sales-to-new-listings ratio helps measure market balance by comparing demand to new supply.

Month	Formula	SNLR
February 2026	(3,868 ÷ 10,705) × 100	36%
February 2025	(4,127 ÷ 13,004) × 100	32%

A 36% SNLR still points to buyer-leaning conditions, but it is an improvement over 32%, suggesting some stabilization in market balance.

What This Means for Buyers

Buyers still have more room to negotiate than in stronger seller markets.
There is less pressure from rapid listing growth compared to last year.
Affordability remains strongest in the condo and townhouse segments.
Careful neighbourhood analysis matters, since not every area is moving the same way.

[Inference] Buyers who stay focused on value and comparable sales may find stronger opportunities before competition increases later in the spring market.

What This Means for Sellers

Pricing accurately remains critical in a market that still favours buyers overall.
Strong presentation and professional marketing continue to matter.
Reduced new listing competition may help well-positioned homes stand out.
Homes that miss the mark on price can still sit longer in a price-sensitive environment.

[Inference] Sellers who align with current comparable sales instead of last year’s peak expectations are better positioned to attract serious offers.

Frequently Asked Questions

What was the average home price in February 2026?

The average selling price in the Toronto and GTA market was $1,008,968, which was 7.1% lower than February 2025.

How many homes sold in February 2026?

There were 3,868 home sales in February 2026, down 6.3% year-over-year.

How many new listings were recorded in February 2026?

There were 10,705 new listings in February 2026, representing a 17.7% decrease from February 2025.

What does a 36% sales-to-new-listings ratio mean?

A 36% SNLR generally indicates a market that still leans in buyers’ favour, though it was a stronger reading than February 2025’s 32%.

Are condos still the most affordable entry point in the GTA?

Yes. Condo apartments averaged $626,650 in February 2026, making them the most affordable major housing type in this report.

Is the GTA market improving heading into spring 2026?

[Inference] February’s improved SNLR suggests some stabilization, but broader spring momentum will still depend on buyer confidence, affordability, and listing flow in the coming months.

Need a More Local Breakdown?

GTA-wide numbers only tell part of the story. Condo markets, detached-home markets, and neighbourhood-level conditions can vary dramatically. If you want a data-backed breakdown for your target area or property type, the local stats matter most.

Book a Consultation Get a Home Value Estimate Browse Listings

🏡 Gagan Gill – Realtor | Royal Canadian Realty

📞 647-527-9635

💻 Gagangillrealestate.com

Instagram: @Gagan.RCR

Address:	3 Centre St Suite 206 Markham, ON L3P3P9
Phone:	647-557-3135
Phone:	647-527-9635

February 2026 Toronto & GTA Real Estate Market Update

February 2026 Market Highlights

What Happened in the GTA Real Estate Market in February 2026?

Average Price by Property Type

Home Sales by Property Type

Sales-to-New-Listings Ratio (SNLR)

What This Means for Buyers

What This Means for Sellers

Frequently Asked Questions

Need a More Local Breakdown?

Gagan Gill

Latest Blog Posts

GTA Condo Prices Are Down 23.6% From Their Peak — Is Now the Time to Buy?

GTA Real Estate Market Watch, August 2026 | York Region & Toronto

Bank of Canada Holds Rates Again: What Wednesday's Announcement Means for GTA Homeowners and Buyers

Back-to-School Home Maintenance Checklist | GTA Homeowners

Property Search

Contact Information

Search Blog

Our Bloggers

Gagan Gill

124 Posts

Pushpinder Gill

3 Posts

Royal Canadian Realty, Brokerage, Markham

MLS® Disclaimer