What Is the Average Home Price in Toronto Right Now in September 2026

The average home price in Toronto right now in September 2026 sits at approximately $1.06 million on a composite benchmark basis, according to recent Toronto Regional Real Estate Board data. That figure covers all property types across the City of Toronto proper and reflects a market that has been working through a period of correction and stabilization over the past year.

It is worth noting that the word "average" can be misleading in Toronto's market. The composite benchmark price is calculated by the Toronto Regional Real Estate Board and weights different property types to reflect what a typical buyer is purchasing. The straight average sale price, which includes all transactions, tends to run somewhat higher because large luxury sales pull the number up. For practical budgeting, the benchmark is the more useful figure.

Composite Benchmark Price

The MLS Home Price Index benchmark for the City of Toronto in September 2026 is approximately $1.06 million. The broader Greater Toronto Area benchmark, which includes municipalities like Mississauga, Brampton, Markham, and Vaughan, sits closer to $1.08 million. These numbers reflect a market that is roughly flat compared to spring 2026 but is showing early signs of renewed buyer activity heading into the fall season.

For a detailed interactive breakdown of current prices by neighbourhood and property type, WOWA's Toronto Housing Market update publishes regularly updated data with maps that let you drill into specific pockets of the city. It is a useful tool for anyone trying to compare areas before booking showings.

How Toronto Compares to Its Own Recent History

Toronto home prices peaked in early 2022 at a composite benchmark above $1.33 million before a sharp rate-driven correction brought them down through 2023 and into 2024. The market found a floor through 2025 and has been consolidating since. As of September 2026, prices are roughly 20 percent below that 2022 peak but have held relatively steady over the past six months, suggesting the correction phase is largely complete.

For buyers who sat on the sidelines during the 2021 and early 2022 frenzy, the current environment represents a materially different entry point. For sellers who purchased before 2020, most are still well above their acquisition cost despite the pullback from peak.

2. Average Home Prices by Property Type in Toronto

Property type is the single biggest variable in Toronto's price landscape. A detached house and a one-bedroom condo in the same general area of the city can differ in price by $600,000 or more. Understanding the breakdown by type is essential before you start comparing listings.

Detached Houses

Detached benchmark price in Toronto: approximately $1.44 million as of September 2026. Detached homes remain the most expensive and most sought-after property type in the city. Supply is structurally constrained because the city is largely built out, and new detached construction inside the old City of Toronto boundaries is minimal. Most detached inventory that comes to market is resale, often on lots that are 25 to 30 feet wide in older neighbourhoods like Roncesvalles, Leslieville, and Danforth Village.

In the inner suburbs of North York and Scarborough, detached homes can be found in the $900,000 to $1.2 million range, with larger lots and more square footage than comparable properties closer to downtown. Etobicoke, particularly along the Bloor West corridor and near Humber Bay, tends to price between $1.1 million and $1.5 million for detached stock.

Semi-Detached and Townhouses

Semi-detached benchmark price in Toronto: approximately $1.07 million as of September 2026. Semis are the workhorse of Toronto's mid-market. They offer more living space than a condo, often with a backyard, at a price point that is more accessible than a detached. Neighbourhoods like Riverdale, Bloorcourt, and the Junction have dense concentrations of Victorian and Edwardian semis that typically range from $900,000 to $1.3 million depending on renovation level and lot depth.

Freehold townhouses in Toronto benchmark around $950,000 to $1.1 million, while stacked and condo townhouses, which carry monthly maintenance fees, can be found in the $650,000 to $850,000 range. Townhouse supply has grown meaningfully in areas like Liberty Village, King West, and along the Eglinton Crosstown corridor as infill development has added new product over the past several years.

Condos and Stacked Townhouses

Condo benchmark price in Toronto: approximately $680,000 as of September 2026. The condo segment has seen the most significant price softening over the past two years. A surge in new completions, particularly in the downtown core, Cityplace, and along the waterfront between Bathurst and Parliament, has added substantial inventory at a time when investor demand has pulled back. That dynamic has created genuine value for end-user buyers who want to live in the unit.

One-bedroom condos in the downtown core currently average roughly $580,000 to $650,000. Two-bedroom units range from $750,000 to $950,000 depending on building, floor, and finishes. Midtown buildings along Yonge and Eglinton, and those near St. Clair and Mount Pleasant, tend to hold value more consistently due to their proximity to transit and established retail.

3. Price Ranges Across Toronto Neighbourhoods and the GTA

Toronto is not one housing market; it is dozens of micro-markets layered on top of each other. Where a property sits within the city or the broader GTA can swing its price by hundreds of thousands of dollars even when the property type and size are identical.

Inside the Old City of Toronto

The old City of Toronto, roughly the area bounded by Steeles to the north, the lake to the south, Victoria Park to the east, and Etobicoke Creek to the west, commands the highest prices in the region. Neighbourhoods like Forest Hill, Rosedale, and Lawrence Park carry detached prices well above $2 million. The Annex, Cabbagetown, and Trinity Bellwoods sit in the $1.3 million to $1.8 million range for detached and semi-detached stock. Leslieville and the Beaches, on the east side, offer detached homes in the $1.1 million to $1.5 million range with proximity to the waterfront and the Queen Street East corridor.

Inner Suburbs: Scarborough, Etobicoke, and North York

North York, which stretches from Lawrence Avenue north to Steeles along the Yonge corridor and across to the Humber River, offers a wide price spectrum. Willowdale and Bayview Village carry detached prices from $1.4 million to $2 million. Further north toward Downsview and Jane-Finch, detached homes can be found in the $850,000 to $1.1 million range. Scarborough offers some of the most affordable detached inventory within Toronto's city limits, with bungalows and two-storey homes in areas like Clairlea and Wexford pricing between $800,000 and $1.05 million.

Etobicoke, which runs along the western edge of the city bordering Mississauga, has pockets of high-value real estate near Kingsway and Humber Valley alongside more modestly priced stock in areas like Rexdale. Detached prices in Etobicoke span roughly $900,000 to $2 million depending on the specific street.

Outer GTA: Mississauga, Brampton, and Markham

Buyers willing to commute into Toronto from the outer 905 municipalities find meaningfully lower price points. Mississauga detached homes average around $1.1 million to $1.3 million, with the Port Credit and Lakeview areas commanding premiums for their waterfront proximity. Brampton's detached market sits in the $900,000 to $1.1 million range and offers larger lot sizes. Markham, which has strong transit connections via the Unionville GO station and is approximately 30 kilometres northeast of downtown Toronto, benchmarks detached homes at $1.2 million to $1.5 million.

Commute times matter when evaluating outer GTA value. A drive from Brampton to Union Station during morning peak hours typically runs 45 to 75 minutes by car or roughly 55 minutes by GO Train from Brampton GO. Markham to downtown via the Richmond Hill GO line runs approximately 50 to 65 minutes. These transit times are worth factoring into the true cost calculation alongside the lower purchase price.

4. What Is Driving Toronto Home Prices Right Now

Prices do not move in a vacuum. Understanding the forces behind Toronto's September 2026 market helps you anticipate where things are heading, not just where they stand today.

Interest Rates and Mortgage Affordability

The Bank of Canada's rate-cutting cycle, which began in mid-2024, has brought the overnight rate down considerably from its 2023 peak, and five-year fixed mortgage rates are now sitting in the high 4 percent range for insured borrowers. That is a meaningful improvement from the 6 to 7 percent rates that suppressed buyer activity through 2023 and early 2024. Lower borrowing costs have been the primary catalyst for the cautious return of buyers to the market through the first three quarters of 2026.

For a buyer purchasing a $1.06 million home with a 20 percent down payment, the financed amount is $848,000. At a 4.8 percent five-year fixed rate on a 25-year amortization, monthly principal and interest payments are approximately $4,800. That is still a significant commitment, but it is roughly $700 per month less than the same mortgage would have cost at a 5.8 percent rate two years ago.

Inventory Levels and New Listings

Active listings in the GTA are elevated relative to 2021 and 2022 levels, which is keeping prices from spiking upward despite the return of buyer interest. Sellers who delayed listing during the correction are now bringing properties to market, and new condo completions continue to add supply in the downtown core. The months of inventory figure, which measures how long it would take to sell all current listings at the current pace of sales, sits around 3.5 to 4 months in September 2026 for the broader GTA. A balanced market is generally considered 4 to 6 months, so conditions are slightly tilted toward buyers overall, though detached homes in core areas are more competitive.

Population Growth and Rental Demand

Toronto remains one of the fastest-growing metropolitan areas in North America. The Greater Toronto Area adds hundreds of thousands of new residents annually through immigration and interprovincial migration, and housing construction has not kept pace with that demand over the long term. This structural supply shortfall underpins Toronto home prices and provides a floor that distinguishes the market from cities without the same population growth dynamics.

Rental demand has also remained strong, keeping purpose-built rental and investor-held condo units occupied even as purchase prices have softened. Average asking rents for a one-bedroom condo in downtown Toronto sit around $2,200 to $2,500 per month in September 2026, which continues to make ownership competitive on a monthly cost basis for buyers who can manage the down payment.

Nesto's Toronto housing market outlook provides a useful breakdown of how rate changes and population trends are interacting to shape 2026 price forecasts, and is worth reading alongside current TRREB data for a fuller picture.

5. What These Numbers Mean If You Are Buying or Selling in September 2026

Knowing the average price is useful, but translating that number into a strategy for your specific situation is where the real work happens. The market in September 2026 looks different depending on which side of the transaction you are on.

For Buyers

The current environment gives buyers more time and more choice than at any point since 2019. Conditional offers on home inspections and financing are being accepted again in most segments, which was essentially impossible during the 2021 to 2022 peak. Buyers are able to negotiate on price and terms, particularly in the condo segment and in outer GTA markets where inventory is highest. That said, well-priced detached homes in established Toronto neighbourhoods are still moving relatively quickly and occasionally drawing competing offers.

If you are buying for the first time, getting pre-approved before you start touring properties is essential in Toronto's market. Lenders will stress-test your mortgage at a rate 2 percentage points above your contract rate, so understanding your actual ceiling before you fall in love with a listing saves a lot of frustration. For a comprehensive overview of the buying process in this city, the complete buyer's guide to Toronto's housing market on this site walks through every step in detail.

For Sellers

Sellers in September 2026 need to price accurately from day one. Overpriced listings are sitting on the market for 30 to 60 days and then selling below their original ask after price reductions, which signals weakness to buyers. Properties that are priced at or slightly below recent comparable sales are generating the most activity and, in some cases, multiple offers. The fall market, which runs from September through November, is historically one of the two strongest selling seasons in Toronto alongside spring, so timing is working in sellers' favour right now.

Presentation matters more than it did during the 2021 frenzy, when buyers were waiving everything just to win. Today's buyers are taking their time and comparing multiple properties. Staging, professional photography, and a clean pre-listing home inspection can meaningfully shorten your days on market and protect your final sale price.

Timing Considerations This Fall

September and October are historically the busiest months of the fall market in Toronto. Families who moved over the summer have settled in, and buyers who held off during the slower July and August period return with renewed urgency before the holiday slowdown. If you are planning to list, the window between mid-September and late October tends to maximize your exposure to active buyers.

For buyers, acting before the end of October gives you the widest selection of current inventory. New listings tend to slow significantly after Remembrance Day, and the December market in Toronto is historically thin on both sides. If you find a property that meets your criteria in the next six to eight weeks, the conditions are in place to negotiate thoughtfully without the panic of a peak-market bidding war.