Greater Toronto Area Sees Strong Low-Rise Home Sales in June 2026 Amid Price Declines

📅 2 weeks ago

The Greater Toronto Area's low-rise new home sales have exceeded historical averages for the third month in a row, primarily driven by single-family homes, despite ongoing price decreases.

In June 2026, new home sales in the Greater Toronto Area (GTA) showed a remarkable performance, surpassing historical averages for the third consecutive month, as reported by the Building Industry and Land Development Association (BILD). During this month, a total of 1,175 new homes were sold, which is a significant increase from the record low of June 2025, although it remains 52% lower than the 10-year average of 2,456 units according to Altus Group, BILD's official source for market intelligence.
The upswing in sales was predominantly attributed to the single-family home sector, which saw 902 transactions in June. This figure marks a substantial year-over-year increase and is 36% higher than the 10-year average for single-family sales. Single-family homes encompass various types including detached, linked, and semi-detached houses, as well as townhouses, excluding stacked townhouses.
Conversely, the condominium market presented a contrasting narrative. Sales of apartments, which include units from low-, medium-, and high-rise buildings along with stacked townhouses, totaled 273 in June. This figure, while slightly improved from June 2025, remains 85% below the 10-year average.
Edward Jegg, research manager at Altus Group, highlighted the continued strength of the single-family sector, attributing it partly to the impact of the HST rebate program. He noted that while the condominium segment is beginning to show slight improvements, it still struggles with inventory issues that limit pricing flexibility.
Inventory levels have seen a slight uptick, with the total remaining new home inventory in the GTA reaching 18,888 units in June. This includes 12,579 units of condo apartments and 6,309 single-family homes. Based on average sales over the past year, the current inventory represents approximately 36 months of supply.
Price trends have also been downward. The benchmark price for new condo apartments in June was recorded at $1,038,604, which BILD describes as an apparent price floor. Meanwhile, the benchmark price for new single-family homes decreased to $1,275,458, reflecting a 15.5% drop over the past year. Notably, both figures are gross prices and do not account for any HST rebates to facilitate year-on-year comparisons.
BILD is optimistic that this momentum will persist. Justin Sherwood, chief operating officer at BILD, remarked on the emerging trend in Ontario's new home sales, citing the passage of legislation regarding the HST rebate and the availability of official forms for builders and buyers. He emphasized the current market conditions as favorable for new home purchasers, suggesting that it represents a unique opportunity to buy given the decline in prices and increased inventory.
Sherwood urged potential buyers to seize the moment, stating that prices have dropped over 15% from the previous year, and more options are becoming available in the market. He also pointed out a policy gap, noting that adjustments to the HST regulations concerning construction start and completion dates could enhance the participation of condos in the rebate program.
Outside of the GTA, Simcoe County recorded 74 new single-family home sales in June, with no condo apartment transactions. The weighted average price for new single-family homes in the county was $1,050,391.

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