What Changed in August 2026?

TRREB reported 5,057 GTA home sales in August 2026, down 2.1% from a year earlier. New listings fell much faster to 12,075, a 14.1% year-over-year decline. The MLS® HPI Composite benchmark remained 4.5% below August 2025, while the average selling price was $993,410, down 2.7% year over year.

The important seller signal is the difference between sales and new listings. When new supply contracts more quickly than demand, buyers have fewer alternatives. If that pattern continues, properly positioned homes may face less direct competition even before headline prices show meaningful improvement.

Source: Toronto Regional Real Estate Board, September 3, 2026 market release.

Does Less Inventory Mean You Should List Now?

Not automatically. A city-wide change in inventory is useful context, but your decision still depends on the homes competing for the same buyer as your property. A detached home in Richmond Hill, a townhouse in Markham and a condo in North York can experience very different levels of buyer choice at the same time.

• Fewer competing listings can help if your property is well prepared and priced within the range buyers are actively considering.
• Price softness still matters. A tighter market does not erase evidence from recent comparable sales.
• Property type matters. Buyers may face scarcity in one segment while retaining substantial negotiating power in another.
• Neighbourhood competition matters more than the GTA average. Your closest active alternatives are the listings that shape buyer urgency.

North York: Watch the Buyer Alternatives, Not Just Toronto Headlines

North York contains several distinct seller markets. Willowdale detached homes, Bayview Village condos and Bayview Woods–Steeles freeholds do not compete for identical buyers. If inventory is tightening around your property type and price range, fall can become more attractive—but the decision should still be based on current nearby alternatives.

Start with the North York Seller Guide and, for a more local comparison, the Willowdale Home Value & Selling Guide.

Richmond Hill: Tighter GTA Supply Does Not Remove Detached-Home Competition

Richmond Hill sellers should be especially careful about using broad GTA tightening as a reason to overprice. Detached homes can still face substantial buyer choice, and differences in lot, renovation, school area, street position and condition materially change which listings are genuine comparables.

If you own a detached property, read Richmond Hill Realtor for Home Sellers and the new guide Why Are Richmond Hill Detached Homes Taking Longer to Sell in 2026?.

Markham: One City Can Still Contain Several Different Markets

Markham’s buyer pool varies significantly between detached homes, semi-detached homes, townhouses and condos. That makes property-type and neighbourhood analysis more valuable than simply asking whether Markham is “up” or “down.” Unionville, Cornell, Berczy Village and Markham Village also attract different buyer comparisons.

Use the Markham Seller Guide to narrow the analysis, then compare your property against the closest active alternatives.

Three Signals That Fall Conditions May Be Improving for Your Home

1. Your direct competing inventory is falling. Not city-wide inventory—the homes a realistic buyer would choose instead of yours.
2. Recent comparable listings are selling without repeated price reductions. This suggests buyers are accepting current value levels.
3. New listings are entering at prices that support your expected range. A smaller, more rational competitive set can improve your launch position.

Three Signals You Should Still Be Cautious

• Comparable homes remain unsold after several weeks.
• Buyers repeatedly prefer better-finished or better-located alternatives at a similar budget.
• Your expected price depends on older peak-market sales rather than recent evidence.

Should You Sell This Fall or Wait Until Spring 2027?

The shrinking-listing trend strengthens the case for reviewing your fall opportunity now, but it does not create a universal answer. Your timing should account for your next move, carrying costs, mortgage situation, preparation needs and the current competition around your home.

For the full timing framework, read Should I Sell My House This Fall or Wait Until Spring 2027?.

Richard Wang is a Salesperson with Real One Realty Inc., Brokerage. Market statistics are general information and do not determine the value or future selling price of an individual property.