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Toronto’s real estate market could see a seasonal boost in activity this fall, as buyers and sellers return to the market following a relatively quiet summer, according to the Toronto Regional Real Estate Board.
The spring and fall have traditionally been the busiest seasons for Toronto real estate. But after several years of significant market swings — and now a Canada-U.S. trade war — seasonal trends have become less predictable.
Still, some industry experts are expecting a busier September.
“We are feeling it in our own pipeline and in our conversations at the office that this fall should be busy,” said Ravi Singh, a real estate agent with RE/MAX Hallmark Realty.
Singh says his brokerage is seeing more bidding wars than it did at this time last year — a possible sign that some buyers believe the market may have already hit its bottom.
Jordan Nanowski, lead economist for the Greater Toronto Area housing market at the Canada Mortgage and Housing Corporation, also says the market has been picking up recently.
“We have been seeing that the market transitioned from a buyers market to more of a balanced market,” he said.
Nanowski says he’s seeing a particular uptick in purchases by millennials entering the housing market in areas like Mississauga.
“They’re the ones who are waiting on the sidelines and waiting to get that more affordable low-rise housing in the 905,” he said.
Buyers coming back, but still cautious, expert says
During Toronto’s pandemic-era real estate boom, virtually every type of property seemed to attract buyers. Homes in a range of conditions and neighbourhoods were selling quickly, and buyers were often willing to stretch to the top of their budgets.
Today, Singh says the market is more selective and pricing remains critical.
“If you’re priced even a hair too high, you could end up sitting while people wait on the sidelines,” he said.
Ravi Singh, a real estate agent at REMAX Hallmark Realty Ltd., says his brokerage is getting ready to list several new properties this fall, but buyers remain cautious. (Talia Ricci/CBC)
Some homes are sitting on the market longer and could potentially present opportunities for buyers looking for a deal, he says. But Singh says well-maintained, updated properties in desirable neighbourhoods are once again attracting significant interest — and, in some cases, bidding wars.
Fewer listings could create more competition
At the same time, buyers have fewer properties to choose from.
The Toronto Regional Real Estate Board (TRREB) recorded 14,484 new listings in July 2026, down 17.8 per cent from the same month last year. Jason Mercer, chief information officer at TRREB says new listings have been consistently lower throughout 2026, and that could become an important factor heading into the fall.
He says if inventory remains constrained while more buyers return to the market, competition could increase, potentially putting a floor under declining prices.
“That’ll be an important signal as more buyers and different neighbourhoods start to see that prices are solidifying and potentially even starting to move upwards,” Mercer said.
That could encourage more buyers to enter the market, he says, particularly those who have been waiting for signs that home values are likely to rise over time.
Economic uncertainty could keep buyers on the sidelines
But a stronger fall market is far from guaranteed, particularly as Canada and the United States navigate a the uncertainties of a trade war.
“That impacts the resale market quite substantially because consumer confidence is such an important aspect of it,” Nanowski said.
Singh also says some buyers are deliberately holding back rather than assuming they need to compete aggressively in a multiple-offer situation.
“There’s a lot of caution. There’s a lot of concern about overpaying,” he said.
Experts say the biggest exception is the condo market. A large supply of condos continues to weigh on that market, meaning condo prices and activity could remain stagnant even if the broader market picks up.