Home sales and prices declined in the Greater Toronto Area during February
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Home sales in the Greater Toronto Area fell last month, accompanied by reductions in both new listings and average selling prices, as prospective buyers are waiting for the market to stabilize before proceeding. Although sales declined year-over-year, new listings experienced an even greater annual decrease.
The average selling price for all residential properties decreased by 7.1 per cent from February 2025, reaching $1.009 million. This decline reflects a year-long downward trend in prices, largely attributed to increased buyer choice across the GTA.
Potential buyers are currently awaiting stabilization in selling prices as well as favourable developments regarding trade. Provided these conditions are met, significant momentum in home sales may occur during the latter half of this year and extend into 2027.
With plenty of rental options available, first-time buyers can easily delay purchasing a home. With fewer sellers than last year, rising demand this spring may keep prices steady.
