Market Update – January 2026

GTA REALTORS® reported 3,082 home sales through TRREB’s MLS® System in January 2026 — a decline of 19.3% compared to January 2025. New listings were also softer, with 10,774 properties entering the market, down 13.3% year-over-year. Active listings, however, rose 8.1% to 17,975, reflecting ongoing inventory build-up that continued to give buyers leverage heading into the new year.

The MLS® Home Price Index (HPI) Composite benchmark declined 8.0% year-over-year in January 2026. The average selling price came in at $973,289, representing a 6.5% decrease from January 2025 — falling below the $1 million mark for the first time since January 2021. On a seasonally adjusted basis, both the HPI composite and average price trended lower compared to December.

By home type, detached homes saw an average price of $1,277,915 (down 7.4% YoY). Condo apartments posted the sharpest decline, with an average price of $604,759 (down 9.8% YoY). Semi-detached homes and townhouses also saw material year-over-year price declines, reflecting broad-based pricing pressure across virtually all housing types. Homes took an average of 45 days to sell, up 21.6% year-over-year.

Despite the headline numbers, multiple-offer scenarios were still being seen — particularly in the $1M–$2M detached segment and among first-time buyer properties. Consumer caution driven by economic uncertainty and geopolitical concerns remained the primary force keeping otherwise qualified buyers on the sidelines.

At Landpower, our agents are closely tracking these conditions across Markham, Richmond Hill, Thornhill, Vaughan, and the broader GTA. If you’re considering your next move or want a clear picture of what today’s market means for your property, we’re here to help.