February Data : Sales, Prices Continue Slide, Signal Opportunity For Some Buyers.
- 4 hours ago
- 3 min read
Data Via https://www.realosophy.com/
According to the February 2026 Market Watch report, we had 3,868 home sales, representing a 6.3% decline compared to February 2025. To put this in context our 25 year average since 2000 has been 6100 sales in February so we are down 37% from the average February.
At the same time, new listings fell even more sharply to 10,705, down 17.7% year-over-year. Still we have a lot of inventory available for sale but it vary’s from home type and area. Downtown core condos are probably where we see some of the highest inventory as well as outside Toronto with plenty of suburban options.
The average selling price across the GTA came in at $1,008,968, down 7.1% year-over-year.
Lets take a look at how each housing type is performing.
DETACHED HOMES
Breaking the market down by housing type reveals meaningful differences between property segments. Detached homes remain the most expensive segment of the market, with an average selling price of approximately $1,568,543 across the GTA. Still detached homes prices dropped 8.2% from last year Feb, the biggest dip in all home types, most likely because they are the most expensive and fewer buyers are actively looking in the higher price point.
Sales activity in this category totalled 698 transactions in February, reflecting a moderate slowdown compared to last year as higher borrowing costs continue to limit affordability for many buyers.
SEMI-DETACHED HOMES
The semi-detached market, often considered the entry point into the low-rise housing market in Toronto, recorded 336 sales in February with an average selling price of roughly $1,229,853 across the GTA. Semi-detached homes continue to serve as a compromise between affordability and space, appealing to young families and first-time buyers moving up from condominiums. However, like detached homes, this segment has also experienced modest price declines compared to the previous year, reflecting broader affordability constraints in the market.
TOWNHOUSES
Townhouses continue to act as a key “missing middle” housing option in the GTA. February saw 545 townhouse sales with an average selling price of approximately $980,175. This segment remains particularly attractive to buyers seeking a ground-oriented home with a lower price point than detached or semi-detached properties.
CONDOS
The condominium apartment market remains the most active by transaction volume, with 1,683 sales in February, representing the largest share of all GTA home sales. The average selling price for condos came in at roughly $663,984, making them the most accessible entry point into home ownership for many buyers in the region. Despite this relative affordability, the condo segment has faced some of the most significant price declines year-over-year and we will probably continue to see downward pressure on prices for this segment going into the end of 2026.
SUMMARY
For now, the February data reflects a market that is slower than historical norms. That being said I’m still seeing interest in the market from many first time homebuyers or some up-sizers seeing an opportunity to buy for much less than years previous. Buyers are being cautious and taking their time.
For those looking to get into the market this year, there are some deals to be had if you know where to look and how to negotiate them, yet other parts of the market can be competitive depending on neighbourhood and home type as well as price point. We are even seeing the odd bidding war on those turn key ready homes in the 1M - 1.5M price point in sought after pockets as we see few of these available to start the year and more of the inventory are in the fixer upper, duplex or triplex homes, these cost money and time to update and not many have an appetite for that right now.
A savvy buyer can find that home that needs a bit of love, maybe isn’t marketed correctly, its not staged or photographed well and with a bit of paint and a small updates such as updating floors or kitchen countertops its a move in ready home at a discount!
As always reach out with your real estate questions or comments or feel free to click the link below to book a No Obligation Phone Call.
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