Overview

• Greater Toronto’s benchmark price slipped to $978,100 in August, down 5.2% year over year, as seasonally adjusted sales fell 1.8% and both new (+9.4%) and active (+22.4%) listings rose.
• TRREB says households on average incomes still struggle to carry payments on an average‑priced home despite lower borrowing costs and recent price declines.
• Condominiums led the Toronto region’s corrections, with suburban condo prices down about 10.6% from a year earlier as a wave of completed units expanded supply; the average price of a detached home in the city fell 10% year over year.
• Calgary’s benchmark fell 4.1% year over year to $577,200 as inventory climbed to 6,661 homes, the highest August level since 2019, with the sharpest declines in row houses and apartments (about 5%–6%).
• Greater Vancouver recorded 1,959 sales, up 2.9% from a year earlier, while the composite benchmark eased 3.8% to $1,150,400 and active listings increased 17.6%; market participants are watching the Bank of Canada’s Sept. 17 decision for potential easing that could affect demand.