January’s numbers confirm a slower start to the year across the Greater Toronto Area. There were 3,082 home sales in January 2026, down 19.3 per cent from last year, with new listings also lower at 10,774, a 13.3 per cent year-over-year decline. Prices continue to soften, with the MLS® HPI down eight per cent and the average selling price at $973,289, down 6.5 per cent from January 2025. Compared to December, sales eased further while prices trended lower, reinforcing that buyers remain cautious and sellers are still adjusting expectations.
That said, this type of market rewards preparation and realism. Well-priced homes continue to sell, and buyers with secure finances are finding more room to negotiate than in recent years. The right strategy still comes down to timing, budget, and long-term plans, not just the headlines.
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