The latest numbers from the Toronto Regional Real Estate Board (TRREB) show that the Greater Toronto Area housing market continued to adjust in February, with fewer homes changing hands and even fewer new properties coming to market.
Across the GTA, 3,868 homes sold through TRREB’s MLS® System in February 2026, down 6.3% compared with February 2025, while 10,705 new listings were added to the market. A sharper 17.7% decline year over year.
What stands out most is that supply is shrinking faster than demand. Even though many buyers are still taking a wait-and-see approach, fewer listings could quickly create tighter conditions as we move deeper into spring.
Central Toronto Relevance
In neighbourhoods across Central Toronto, inventory has always played a major role in how quickly momentum returns.
When fewer homeowners decide to list, buyers who have been waiting often become more competitive the moment the right property appears. That is especially true in established family neighbourhoods where turnover is naturally limited.
We are already seeing that many buyers remain engaged: watching closely, revisiting listings, and waiting for a stronger signal that prices have stabilized.
Buyers Are Present but Selective
TRREB estimates that more than 100,000 potential buyers across the GTA are currently holding off on making a home purchase, waiting for prices to level off and for greater economic certainty.
That hesitation does not mean demand has disappeared, it simply means buyers are being more deliberate.
For Central Toronto sellers, this creates a market where presentation, pricing, and timing matter more than ever. Well-positioned homes are still attracting attention but buyers are taking longer to make decisions and comparing options carefully.
Prices Continue to Adjust
The GTA’s average selling price in February was $1,008,968, down 7.1% from last year, while the MLS® Home Price Index benchmark declined 7.9% year over year.
These are broad regional figures, but in Central Toronto, pricing often behaves differently depending on neighbourhood, school district and housing type.
Detached homes in sought-after midtown pockets can still outperform broader averages when supply remains limited, while condos and entry-level segments may continue to feel more pricing pressure.
A Market That Still Feels Transitional
What February really shows is a market that has not fully chosen its direction yet.
Buyers are waiting for confidence. Sellers are watching whether spring will bring stronger activity. With fewer listings entering the market, there is real potential for conditions to tighten if demand returns quickly.
For anyone planning a move in Central Toronto this year, the next few months will likely offer the clearest signal of where the market is heading.
If you would like specific market advice tailored to your situation, reach out to us at clientcare@lomeirwin.com
If you’ve already experienced the zoo, the aquarium and every major museum, this one’s for you. Here are some lesser-known Toronto-area March Break ideas that families love.
While many families don’t think of theatre for March Break, YPT’s smaller puppet and movement-based productions are ideal for younger kids. The current production, Love You Forever and More Munsch allows you to step inside the world of Robert Munsch, Canada’s best-loved children’s author!
Why parents love it:
Short run times
Intimate theatre setting
Imaginative storytelling without screens
It’s a great introduction to live performance and a calm break from overstimulating attractions.
For families craving fresh air without leaving Toronto, the High Park Nature Centre runs guided walks, animal talks, and drop-in activities focused on early spring wildlife.
Features:
Educational activities
A zoo for animal-loving kids
Everything High Park has to offer without the summer crowds
March Break Programs at Toronto’s Historic Houses:
Smaller museums quietly offer March Break programming that’s often free or low-cost and quieter than major institutions.
Families with older kids and teens will love Casa Loma’s immersive escape room experiences, set inside one of Toronto’s most iconic landmarks.
Work together as a family
Experience Casa Loma in a totally different way
Choose your adventure: A variety of themed escape rooms let you pick the mystery that suits your family best
Perfect for rainy days or when you want something more exciting than the usual outing.
Ice Skating (Weather Permitting)
If March weather cooperates, skating is an easy, classic way to get kids moving.
Popular options include:
Nathan Phillips Square: central, lively, and easy to pair with lunch downtown
Evergreen Brick Works: a nature-focused skate with trails and space to explore
It’s simple, affordable and feels special during March Break.
Explore Toronto Neighborhoods (Weather Permitting)
Kensington Market + Chinatown A great choice for wandering, snacking, and soaking up colour and character. Try something new to eat, browse vintage shops, and spot street art along the way.
Distillery District Cobblestone streets, historic buildings, galleries, and plenty of cozy stops for hot chocolate make this an easy half-day outing with lots of photo ops.
The Beaches If it’s mild, stroll the boardwalk, explore local shops, grab a casual meal, and let kids burn off energy at the Kew Gardens playground.
Many of these events don’t require advance tickets, are walkable or TTC-friendly and feel more relaxed than big attractions. March Break doesn’t have to mean crowds and packed schedules, these hidden gems offer a more relaxed way to enjoy the city!
Nearby March Break Destinations
If you’re up for a short drive, these nearby destinations make great day trips. Ideal for switching things up midweek while still keeping plans manageable.
Niagara Falls (about 1.5 hours) March is a surprisingly great time to visit. Frozen waterfalls are especially impressive, crowds are lighter and there’s plenty to do indoors: arcades, the Butterfly Conservatory and Bird Kingdom.
African Lion Safari (about 1 hour) A favourite with younger kids, this drive-through safari lets you stay warm in the car while spotting animals up close. March can be quieter than peak season, and some indoor exhibits may be open depending on conditions.
Blue Mountain Village (about 2 hours) Late-season skiing and snowboarding are often still available, and the village itself offers plenty to do even if you skip the slopes.
Scenic Caves Nature Adventures For families who love the outdoors, winter cave tours, suspension bridges, snow tubing, and scenic views make this a memorable adventure with a bit of wow factor.
Making the Most of March Break
March Break doesn’t have to revolve around the busiest attractions. Toronto offers plenty of smaller events, neighbourhood outings, and low-key activities that can make the week feel just as full.
Whether you stay in the city or plan a short day trip, these ideas offer a simple way to keep kids engaged while exploring parts of Toronto you might not normally visit.
There is a particular moment in Toronto’s real estate calendar that tends to pass quietly. Winter has begun to recede, sidewalks are busier and the city is shifting its attention toward spring. Early spring is when the real estate market starts to reawaken. For buyers who are paying attention, this period can offer an advantage that is both subtle and significant.
By March and early April, listings are returning to the market with greater consistency. Sellers who waited out the winter are ready, homes are beginning to show at their best and inventory is building. Yet buyer activity has not fully caught up. The urgency and intensity that define late spring have not yet taken hold, creating a brief window where choice exists without chaos.
The Slower Pace Creates Better Decisions
The change of pace matters. Early spring allows buyers to approach the process with intention rather than reaction. There is time to view homes more than once, to consider layout and light and to weigh options against long-term needs. Decisions are made with greater clarity because the pressure to act immediately is reduced. In a market that often rewards speed, early spring can reward a more thoughtful approach.
Sellers are Ready to Move Forward
Sellers active at this time of year tend to be prepared and purposeful. Many are moving within a set timeline, tied to work changes, family planning, or an already-secured next home. As a result, conversations feel more structured. There is often flexibility around possession dates and terms. Negotiations are less likely to be shaped by emotion or urgency alone.
Learning from the Market Before it Accelerates
Watching how new listings are priced, how long they stay on the market, and which homes generate interest provides valuable insight and perspective for buyers. Patterns begin to emerge. Buyers gain a clearer understanding of what represents strong value and what may be driven more by optimism than reality. By the time the market accelerates, early spring buyers are better informed and more confident in their decisions.
Advantages for Families
For families, the benefits are both practical and personal. Purchasing earlier in the season creates space to think ahead rather than react. It provides time to coordinate a summer move, ease through school transitions and plan renovations without stacking everything at once. With fewer overlapping pressures, the experience feels more measured and far more manageable, which can make all the difference during a significant life transition.
When Buyers Can Truly Experience the Area
There is also a subtle emotional shift that comes with early spring. As daylight stretches and natural light returns, homes feel brighter and more open. Streets become walkable again, front gardens reappear and neighbourhood rhythms start to surface. Buyers can picture morning routines, after-school walks and summer evenings with greater clarity than they could in mid-winter, without the urgency that often defines peak spring.
Moving Before the Rush
The early spring market requires readiness and a willingness to act before the broader crowd arrives. For buyers who value calm over competition and clarity over urgency, it offers a rare opportunity.
In real estate, timing is often discussed in terms of moving faster or waiting longer. Sometimes the real advantage lies in moving before the rush.If you’re looking for specific market advice, reach out to us at clientcare@lomeirwin.com.
For the first time in five years, the average price of a home in the GTA has dropped below $1 million. According to the Toronto Regional Real Estate Board, the average sale price last month was down 6.5 per cent compared to the same period last year, while home sales declined by 19.3 per cent.
The slowdown is being felt across the market. Homes are spending more time on the market, prices are softening, and experts expect these conditions to continue in the months ahead.
Buyers Take a More Cautious Approach
For buyers, particularly first-time purchasers, the changing market has created more opportunity and flexibility. Ryan Rodriguez, who has viewed roughly 15 homes over the past few months, says the slower pace has allowed him and his partner to approach the process without pressure.
“Timing-wise, we’re very fortunate. It allows us to really take our time and see where our money will get us,” Rodriguez said.
Despite lower prices and easing interest rates, many potential buyers remain cautious. Ongoing economic uncertainty and concerns about job stability continue to influence purchasing decisions.
“I think as young people, job stability is always a question mark, especially during times like this,” Rodriguez added.
Brayden’s Perspective From the Front Lines
Brayden, a Toronto real estate agent featured in the report, says the shift to a buyer’s market is clear in day-to-day transactions.
He notes that properties are taking longer to sell compared to previous years, and buyers are no longer rushing into decisions. Multiple-offer situations have become far less common, allowing buyers more room to negotiate and include conditions that were often waived during the height of the market.
Brayden also explains that while the average price falling below $1 million is making headlines, the impact varies depending on property type and location. Entry-level homes and condominiums are seeing more downward pressure, while well-priced, move-in-ready properties in desirable neighbourhoods continue to attract interest, at a slower pace.
For sellers, Brayden says pricing strategy has become critical. Homes priced in line with market conditions are still selling, while overpriced listings are more likely to remain on the market longer.
A Broader National Trend
Toronto is not alone in experiencing a market slowdown. Several other major Canadian cities reported declining home sales last month.
In Vancouver, sales were down nearly 30 per cent compared to the year before. Calgary saw a decrease of nearly 15 per cent, while Edmonton sales dropped by 27.6 per cent. Montreal was an exception, with home sales increasing by approximately 8 per cent in 2025.
Jason Mercer, chief information officer at the Toronto Regional Real Estate Board, says many buyers remain on the sidelines as they wait for greater economic certainty.
“There is concern around our trade relationship with the United States, as well as other geopolitical issues that are contributing to uncertainty,” Mercer said. “If we see a more stable economic outlook in the months ahead, that could encourage more households to take advantage of improved affordability.”
Outlook for 2026
The Toronto Regional Real Estate Board predicts that slower sales and price weakness will continue through at least the first half of 2026. This follows a challenging 2025, which recorded the lowest number of home sales in 25 years.
For now, the market remains in a period of adjustment, offering buyers more time and choice while requiring sellers to adapt to changing conditions.
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Lome Irwin’s Perspective
The current softening in the Toronto housing market reflects a natural recalibration after several years of intense competition and rapid price growth.
More balanced conditions are widely seen as healthy for the market. Buyers are gaining the time and clarity needed to make informed decisions, while sellers are being encouraged to price homes based on current realities rather than peak-era expectations.
In this environment, success depends heavily on local expertise and strategic execution. Properties that are properly prepared, well marketed, and priced with precision continue to attract qualified buyers, even as overall sales volumes remain subdued.
Demand has not disappeared, particularly among families searching for long-term homes in established neighbourhoods. However, buyers are more selective and value-driven, placing greater emphasis on quality, location, and long-term suitability.
Looking ahead, the months to come are expected to favour informed decision-making and disciplined strategy, as both buyers and sellers navigate ongoing economic uncertainty and adjust to a slower, more deliberate market pace.
Each year, January and February offer some of the clearest signals about where the real estate market may be heading. While activity is typically quieter in winter, early-year numbers often reveal shifts in supply, pricing, and buyer behaviour that shape the spring market ahead.
Here’s what recent data from the Toronto Regional Real Estate Board (TRREB) suggests about the year to come.
1. Fewer Bidding Wars
One of the most important trends heading into 2026 is the continued increase in available listings.
TRREB reported that new listings rose about 10% year-over-year in 2025, while sales declined, leaving more inventory available to buyers.
This shift has created a more balanced market compared with the tight conditions seen earlier in the decade. Higher supply typically means:
More negotiating power for buyers
More time to make decisions
Less frequent bidding wars in many segments
For families planning a move in 2026, this increased selection may be one of the defining features of the year.
2. Prices Softened, Improving Affordability
TRREB data shows that the average selling price in the GTA in 2025 was about $1,067,968, down 4.7% from 2024.
Monthly data has continued to reflect this trend. For example, recent reporting indicates:
January home sales declined year-over-year
The average selling price fell to roughly $973,000, dipping below the $1M mark for the first time in several years.
While no one wants to see values drop sharply, moderate price adjustments can improve affordability and allow more buyers to enter the market – often setting the stage for a healthier long-term cycle.
3. Sales Activity Remains Cautious, but Stable
TRREB reported 62,433 home sales in 2025, down 11.2% from the previous year, reflecting ongoing caution among buyers.
Early 2026 numbers suggest this cautious sentiment continues, with year-over-year declines in sales as some households adopt a “wait-and-see” approach amid economic uncertainty.
However, TRREB’s outlook indicates that sales levels are expected to remain broadly in line with recent years, rather than collapse, suggesting a market that is stabilizing rather than weakening dramatically.
4. Days on Market Are Rising Slightly
Another early-year signal is the pace of sales. Recent figures show average days on market increasing to roughly 45 days, indicating homes are taking longer to sell than in the peak years.
In practical terms, this means:
Buyers have more time to evaluate options
Sellers need stronger pricing and marketing strategies
Preparation and presentation matter more than ever
This trend is especially relevant in midtown Toronto, where well-prepared homes still attract strong interest.
5. Why Early-Year Trends Matter
January and February don’t predict the entire year, but they do establish momentum.
When we see:
Higher inventory
Moderating prices
Cautious but steady sales
This often points toward a balanced spring market, rather than the extreme seller or buyer conditions seen in previous cycles.
TRREB’s own outlook suggests that improved affordability and pent-up demand could support increased activity once consumer confidence strengthens.
6. What This Means for Midtown Toronto Families
For buyers, 2026 may offer:
More choice
More negotiating room
Less urgency than in previous years
For sellers, it means:
Strategic pricing is essential
Presentation and marketing matter more
Well-located, family-friendly homes still perform strongly
Markets change, but fundamentals such as location, schools, and lifestyle continue to drive long-term value in neighbourhoods across midtown.
Thinking About Making a Move This Year?
If you’re considering buying or selling in 2026, the team at Lome Irwin is always happy to share local insight and help you understand what these broader trends mean in your specific neighbourhood.
A conversation early in the year can often make the biggest difference when spring arrives.
Family Day weekend in Toronto usually brings special programming across museums, community spaces, and winter attractions. Many of these are a short drive or subway ride from midtown.
Museums with Special Family Day Programming:
Art Gallery of Ontario: hands-on artmaking, music, and creative activities designed for families during the Family Day weekend.
Bata Shoe Museum: family activities and interactive exhibits often run on Family Day.
ROM: The Lunar New Year takes centre stage this Family Day weekend with exciting programming, live performances and themed activities to enjoy with family and friends.
Winter Festivals, Skating & Outdoor Events:
Harbourfront Centre: Family Day weekend often features skating, crafts, storytelling and performances for kids.
Evergreen Brick Works: Free public skating and seasonal family programming throughout winter.
Sweet City Fest at Stackt Market: An event filled with treats and fun, including live music & entertainment, workshops, vendor markets, family day specials.
Family Fun Fest at Arcadia Earth (the Well): Families can explore the immersive Arcadia Earth exhibit alongside added programming designed for kids and parents alike, including drop-in sustainable crafts, cotton candy and music
Interactive & High-Energy Activities:
Kids Fest TO: inflatables, obstacle courses, games, stage shows and meet-and-greets running across the Family Day weekend.
Interactive gaming facilities like Activate offer physical, team-based challenges for kids 6+ that combine puzzles and movement.
Simple, Local Options Still Matter:
While big events are fun, many midtown families still spend part of the day close to home:
Skating at neighbourhood rinks
Tobogganing at parks like Cedarvale Park or Eglinton Park
One of the reasons families choose midtown communities is how easy it is to plan. Within a short drive or transit, you can be skating outdoors, exploring a museum, or attending a special event.
If you’re considering a move this year, or simply curious about what homes are available in midtown Toronto, reach out to us at clientcare@lomeirwin.com. We specialize in helping families find homes that truly fit the way they live.
The five-year-old townhouse was initially priced at under $1.3-million.JAGGED LENS
Listen to this article
56 Perth Ave., Toronto
Asking price: $1,299,000 (October, 2025)
Selling price: $1.51-million (October, 2025)
Previous selling price: $827,880 (February, 2020)
Taxes: $6,251 (2025)
Days on the market: Eight
Listing agents: Carol Lome and Brayden Irwin, Royal LePage Real Estate Services Ltd., Johnston and Daniel Division
The living room includes sliding doors to the terrace.JAGGED LENS
The action
This freehold townhouse was priced under $1.3-million, which the seller hoped would attract multiple offers, similar to some of the other townhouses recently sold in the enclave alongside the West Toronto Railpath. All went as planned, with four bidders all presenting offers above the asking price.
“We priced that with an offer date with the expectation it would get fairly good activity, and we’d likely have more than one interested party,” said agent Brayden Irwin.
“We had looked at some past listings in the complex, and it seemed like the ones that were listed with that strategy tended to have good results.”
The $1.51-million payout for this five-year-old townhouse also suggests strong buyers demand for turnkey spaces.
“It’s beautiful and modern with all the features young professionals would dream of, like high ceilings, a modern aesthetic, and a high-end kitchen,” said Mr. Irwin.
“Our sellers also hired an interior design firm and spent quite a bit of money to make the space their own rather than the standard builder finishes.”
The three-storey home has 1,308 square feet of living space.JAGGED LENS
What they got
This three-storey townhouse has 1,308 square feet of living space, a street-level entrance and a rear garage accessed through a recreation area in the basement.
The main floor has a kitchen between a dining area and a living room with sliding doors to a terrace.
A rooftop balcony is accessed from the largest of three bedrooms. The bedroom also has a walk-in closet and a five-piece bathroom. There are two more bathrooms in the house.
Tied land fees are $199 each month.
The sellers hired an interior design firm to help make the home shine.JAGGED LENS
The agent’s take
“It’s a great location, and you can get in and out of the city really easily,” Mr. Irwin said.
Recently, many Toronto homeowners have experienced failures with water meter transmission units which has resulted in water bills with estimated amounts.
A simple check and reporting of your water meter can ensure that your utility bill reflects your actual usage. In some cases, reported accurate numbers have even resulted in refunds to customers!
How Water Billing Works in Toronto
In Toronto, residential water bills are typically based on readings transmitted automatically from your home’s water meter. Recently, many transmission units have not been working properly.
Many homeowners may not realize their bill is estimated unless they review it carefully or receive a notice from the city requesting a manual meter reading.
Customers who receive a notice asking that they submit an actual water meter reading can provide this information online through a new feature in the Utility Account Lookup. This is specifically for customers whose Meter Transmission Unit (MTU) has stopped sending water usage data.
The City is notifying affected customers on a billing-period-by-billing-period basis. If your MTU is affected, you will receive a scheduled notification letter that includes a deadline date to submit your actual meter reading.You can also submit your reading by phone or in-person. Here’s how:
Submit a Water Meter Reading Online
The online submission feature will remain available until the deadline specified in your notification letter or email. Be sure to submit your reading before this date to ensure your next bill is based on an actual reading. CLICK HERE to find out more.
Subscribe to email notification for meter readings You may subscribe to email notifications to receive future meter reading notifications. CLICK HERE
Be sure to record or photograph your water meter before your visit.
Customer service representatives will take your contact, account and water meter reading information.
A Proactive Habit for Responsible Homeownership
Checking your water meter every three months is an easy way to stay informed and to ensure that your billing is accurate. With recent transmission unit failures affecting some Toronto homes, this small step is more important than ever.
Proactive maintenance and regular checks help avoid surprises and support responsible homeownership.If you ever have questions about homeownership costs, city notices, or how to stay ahead as a Toronto homeowner, we’re always happy to help. Reach out at clientcare@lomeirwin.com
If selling your home in 2026 is on your radar, now is the time to think about maintenance. One of the most common regrets sellers share after a sale is waiting too long to address repairs and updates.
Deferred maintenance often feels more manageable while you are living at home. Then, just before listing, many sellers rush to complete improvements. While these updates usually help sell your home, sellers rarely get to enjoy them while they are living there and often wish they had acted sooner.
Buyer Expectations
Today’s buyers are careful and detail-focused!
In a market where buyers have choices, condition matters. Homes showing signs of deferred maintenance attract more scrutiny.
When buyers see unfinished repairs or aging systems, they feel justified asking for a price adjustment. Addressing maintenance early is more cost-effective than negotiating it later.
Last Minute Updates
Many sellers spend money shortly before listing by painting, updating fixtures, replacing flooring, or refreshing kitchens and bathrooms. These improvements are worthwhile but enjoyed only briefly, often just during the closing period.
Planning ahead allows you to spread out costs, reduce stress, and enjoy the updates while you still live in the home.
Looking Ahead
If a 2026 sale is your goal, early preparation puts you in a stronger position. Ongoing maintenance helps protect your home’s value and makes the selling process smoother.
2026 Home Preparation Checklist:
12 to 18 Months Before Selling
Walk through the home and note needed repairs
Service heating, cooling, and ventilation systems
Inspect the roof, gutters, and attic and clean accordingly
Review plumbing and electrical components
3 to 6 Months Before Selling
Paint interior walls in light, neutral colours
Update lighting and hardware
Replace outdated window coverings
Improve landscaping and curb appeal
Power wash exterior surfaces
6 to 12 Months Before Selling
Update kitchen and bathroom fixtures
Regrout or repair tile
Fix doors, windows, and trim
Repair or replace worn flooring
Final Preparation
Declutter and depersonalize
Deep clean the home
Complete minor touch ups
Prepare for professional photography
Final Thoughts
Well maintained homes sell more smoothly and with fewer surprises for both sellers and buyers.
If a move in 2026 is part of your plan, preparing now helps avoid last-minute decisions and allows you to enjoy the improvements along the way.
If you would like help prioritizing updates or creating a clear preparation plan, reach out to the Lome Irwin Team at clientcare@lomeirwin.com
