Canada Housing Market

Home prices across the Greater Toronto Area are still lower than they were a year ago, but the size of the decline depends heavily on what type of home you’re looking at.

The average GTA home sold for $1,003,956 in July 2026, down 4.5% compared with July 2025. The MLS Home Price Index benchmark also fell 4.6% year-over-year to $934,600.

But when the market is broken down by property type, the difference becomes much more noticeable.

Semi-detached homes have experienced the largest annual decline among the four major categories, while condo apartments have held up considerably better.

Here’s how much Toronto-area home prices have changed.

Detached Homes: $1,291,690

Detached homes across the GTA sold for an average of $1,291,690 in July 2026.

That was 5.1% lower than July 2025 and 5.3% lower than the previous month.

Detached homes remain by far the most expensive major housing type in the region, but the annual decline means the typical transaction is happening at a significantly lower price point than it was last summer.

There were 2,789 detached home sales in July, nearly unchanged from the same month one year earlier.

That combination is interesting: detached prices are down more than 5%, yet sales volumes have remained relatively stable compared with last year.

Semi-Detached Homes: $964,922

Semi-detached homes recorded the largest annual price decline of the major GTA housing categories.

The average semi-detached property sold for $964,922 in July, down 7.3% year-over-year.

Prices were also down 7.1% compared with June.

There were 557 semi-detached transactions during the month, representing a 6.5% decline from July 2025.

For buyers looking for more space than a condo or townhouse without paying detached-home prices, the semi-detached segment has therefore experienced one of the biggest price adjustments over the past year.

Freehold Townhouses: $903,986

Townhouses have held onto more of their value.

The average GTA freehold townhouse sold for $903,986 in July, down 2.7% compared with last year.

Prices were also relatively stable from the previous month, falling just 0.9%.

There were 567 freehold townhouse sales during July, down 4.9% year-over-year.

That made townhouses one of the more resilient freehold property types in the GTA during July.

Condo Apartments: $636,323

Condo apartments remain the cheapest of the four major housing categories.

The average GTA condo apartment sold for $636,323 in July 2026, down 2.3% from July 2025.

Interestingly, condo prices actually increased 0.9% compared with June, despite remaining below last year’s levels.

There were 1,564 condo apartment sales during the month, just 0.8% fewer than in July 2025.

That made condos the most price-resilient of these four major housing types on a year-over-year basis in July.

Here’s The Full Breakdown

For buyers trying to compare the GTA market, the July numbers looked like this:

Property Type	July 2026 Average Price	Year-Over-Year Change
Detached	$1,291,690	-5.1%
Semi-detached	$964,922	-7.3%
Freehold townhouse	$903,986	-2.7%
Condo apartment	$636,323	-2.3%

The gap between the highest and lowest-priced categories remains enormous.

A detached home cost an average of about $655,000 more than a condo apartment in July.

Meanwhile, semi-detached homes have now fallen below an average selling price of $1 million across the GTA.

The Overall GTA Home Price Is Down 4.5%

Across all housing types, the average GTA home sold for $1,003,956 in July, down 4.5% annually.

TRREB reported 5,995 home sales during July, only 0.9% fewer than during the same month last year.

The market has also been tightening as fewer properties are listed for sale.

July saw 14,484 new listings, while active inventory stood at 26,098 homes. Compared with July 2025, new listings were down 17.8% and active inventory was down 12.1%.

That means buyers still have considerably lower prices than they did last year in many segments, but the amount of available supply is beginning to shrink.

Semi-Detached Homes Have Seen The Biggest Drop

Perhaps the most surprising part of the latest numbers is that condos aren’t experiencing the largest annual decline.

Despite years of headlines surrounding Toronto’s struggling condo market, GTA condo apartment prices were down just 2.3% year-over-year in July.

Semi-detached homes, meanwhile, were down 7.3%, followed by detached homes at 5.1%.

The comparison shows why looking only at the overall GTA average doesn’t always tell the full story.

Different property types are moving at noticeably different speeds.

Average Prices Don’t Tell The Entire Story

It is also important to remember that average selling prices can move based on which homes happen to sell during a particular month.

For example, if fewer luxury homes sell one month, the overall average price can decline even if the value of an otherwise comparable property has not fallen by the same amount.

That is one reason the MLS Home Price Index is useful for looking at broader market trends.

The GTA benchmark home price stood at $934,600 in July, down 4.6% annually and just 0.7% from June.

The smaller monthly movement in the benchmark compared with the 5.2% decline in the average price suggests that July’s sharp drop in the headline average was at least partly influenced by the mix of homes being sold.

What This Means For Toronto Homebuyers

For buyers, the latest numbers show that prices remain meaningfully below last year’s levels across every major housing category.

Someone looking for a semi-detached or detached home is seeing the largest annual price reductions, while condo and townhouse prices have been more resilient.

At the same time, buyers may not want to assume that falling prices automatically mean conditions will continue becoming more favourable.

New listings have been dropping much faster than sales, which means the amount of competition among sellers is beginning to decrease.

If that trend continues into the fall, it could eventually put a floor under prices even before sales activity returns to previous highs.

For now, though, the July numbers are clear: Toronto-area buyers are paying less than they were one year ago across every major property type, with some segments down more than 7%.

References

Toronto Regional Real Estate Board (TRREB), July 2026 Market Watch and housing market release.

WOWA, Toronto Housing Market Report, July 2026, using TRREB and CREA housing data.