February Toronto Real Estate Market Update

(Based on February 2026 sales, reported in March | 416 only)

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February is often the first month where the market begins to reveal its direction for the year.

January tends to be about observation. Buyers watch the market, compare listings, and test their budgets. Sellers begin to return, but many are still waiting for stronger spring activity.

February is different.

Buyers who spent January watching the market often begin acting. Sellers gain more confidence as activity improves. This creates the first meaningful test of supply and demand before the spring market fully arrives.

What we saw this February was a market that became more active, but still disciplined. Buyers were engaged, but selective. Listings increased, but not dramatically. And most importantly, homes that were priced properly moved quickly.

That combination tells us the market is beginning to build momentum, but it is doing so in a balanced way (there's that word again!).

Before We Get Into the Numbers

One thing that continues to stand out this year is the difference between emotion driven pricing and reality based pricing.

Selling Side

I recently met with a seller whose home had been listed twice already. Both times the property sat on the market for more than 100 days. No offers. Very little feedback. Almost no serious interest.

When we sat down together, I walked through the recent sales in her area and compared them carefully to her property. The data told a clear story. Her home was very narrow at only about twelve feet wide, it had no meaningful updates compared to nearby sales, and the basement ceiling was quite low which made it difficult for rental use. Meanwhile, other homes nearby that did sell had stronger layouts, better renovations, or more flexible living space.

From a market perspective, the explanation for why the home had not sold was straightforward.

But sometimes the challenge is not the market. It is expectations.

Despite the data, she remained convinced the home was worth significantly more than the comparable properties that had actually sold. At the same time, she wanted to buy a larger, more updated home and hoped to purchase it at a discount.

In other words, she wanted to sell high and buy low while ignoring the same market forces that apply to everyone else.

After a few conversations it became clear we were not the right fit, and I ultimately declined the listing. Not every situation works out, and sometimes the most honest advice an agent can give is to step away when expectations are not aligned with reality.

Buying Side

At the same time, the opposite type of opportunity is also happening in today’s market.

Recently I helped a buyer purchase a condo for less than the seller had originally paid in 2021. The seller was extremely motivated and even offered to cover the first year of maintenance fees and include some furniture as part of the deal.

For the buyer, it was an exceptional opportunity. A great unit, purchased below its previous price, with additional incentives included.

Those two experiences happening at the same time tell you a lot about the market right now.

When sellers are realistic, deals are happening. When they are not, properties can sit for months.

With that context in mind, let’s take a look at what the numbers actually show.

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The Numbers

You've read my personal opinion, but now here are the cold, hard numbers. 📊

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Please note that these statistics cover only the City of Toronto. Not Richmond Hill, Not Mississauga, Not Vaughan, etc. If you would like to know what's happening in another area in GTA, please reach out and let me know. I'm happy to chat!  

‍Want to look on your own and see the numbers for yourself? Just ask and I'll send you the official statistics that every Real Estate agent gets sent from TREB and uses for their market updates. These are the exact numbers I use for my Toronto updates and if you want, I can prepare an update as detailed as this blog update for your city, neighbourhood and even street/building!

Don't be shy, reach out and just ask!

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📊 NEW LISTINGS

January to February

Detached:
1,007 → 1,093 (+8.54%)

Semi Detached:
234 → 272 (+16.24%)

Freehold Townhomes:
96 → 137 (+42.71%)

Condo Townhomes:
295 → 260 (-11.86%)

Condo Apartments:
2,416 → 2,246 (-7.04%)

Key Takeaway
New listings increased for most freehold housing types as more sellers began preparing for the spring market. Detached and semi detached listings rose modestly, while freehold townhomes saw a sharper increase. Condo listings dipped slightly month over month, suggesting some condo sellers may still be hoping for stronger spring conditions.

📊 ACTIVE LISTINGS

January to February

Detached:
1,671 → 1,775 (+6.22%)

Semi Detached:
289 → 327 (+13.15%)

Freehold Townhomes:
154 → 187 (+21.43%)

Condo Townhomes:
497 → 518 (+4.23%)

Condo Apartments:
4,296 → 4,529 (+5.42%)

Key Takeaway
Inventory increased across every segment in February as new listings entered the market faster than they were absorbed. Condo apartments continue to provide the most choice for buyers, while freehold homes remain comparatively limited despite rising supply.

📊 SALES

January to February

Detached:
290 → 437 (+50.69%)

Semi Detached:
96 → 150 (+56.25%)

Freehold Townhomes:
39 → 47 (+20.51%)

Condo Townhomes:
74 → 106 (+43.24%)

Condo Apartments:
568 → 733 (+29.05%)

Key Takeaway
Sales increased across every property type in February, a strong sign that buyers are returning to the market after the slower start to the year. Detached and semi detached homes led the improvement, while condo townhomes also saw a significant increase in activity.

📊 AVERAGE PRICE

January to February

Detached:
$1,541,791 → $1,568,543 (+1.73%)

Semi Detached:
$1,146,188 → $1,229,853 (+7.30%)

Freehold Townhomes:
$1,088,583 → $1,215,245 (+11.63%)

Condo Townhomes:
$765,911 → $875,946 (+14.37%)

Condo Apartments:
$631,932 → $663,984 (+5.07%)

Key Takeaway
Prices increased across every property type in February. Some of this reflects stronger demand, while some reflects the mix of properties that sold during the month. Townhomes and condo townhomes saw the largest increases, though these segments can be more volatile month to month due to smaller sales volumes.

📊 DAYS ON MARKET

January to February

Detached:
37 → 30 (-18.92%)

Semi Detached:
34 → 20 (-41.18%)

Freehold Townhomes:
34 → 23 (-32.35%)

Condo Townhomes:
53 → 39 (-26.42%)

Condo Apartments:
50 → 43 (-14.00%)

Key Takeaway
Homes sold significantly faster in February compared to January across every segment. The largest change occurred in semi detached homes, where average selling times dropped sharply. This reflects increased buyer engagement as the market moves closer to the spring season.

Finals Thoughts

February showed the first real signs of momentum building for the year.

Sales increased across every property type while listings rose at a slower pace, which tells us buyers are starting to engage more seriously as we move toward the spring market. Homes are also selling faster than they did in January, another sign that activity is picking up.

At the same time, this is still a market where pricing strategy and clear market analysis matter. Buyers today are extremely informed. They are studying comparable sales, watching how long homes sit on the market, and quickly identifying when a property is aligned with market value and when it is not.

That creates two very different experiences in the market. Properties that are well prepared and priced strategically are attracting attention and moving relatively quickly. Properties that miss the mark are often sitting longer while sellers reassess their expectations.

Looking ahead to the spring market, I expect activity to continue building gradually. Inventory is increasing, buyers are returning, and the market is beginning to find its rhythm for the year.

For buyers, opportunities still exist, particularly in segments like condos where supply remains elevated and motivated sellers can create excellent value.

For sellers, success will depend on preparation, strong presentation, and a realistic understanding of where the market is today.

And as always, if you would like a breakdown for your neighbourhood, condo building, or even your specific street, I’m always happy to prepare a custom report.

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Ok! That's it for now. Thanks for reading and have a great day! 👋 - Tyson CR

‍‍Want to know what the current value of your home is or what's going on in your neighbourhood?

Please feel free to reach out! I'm happy to prepare a completely free, no obligation custom market report just for you

If you or anyone is thinking of a move don’t be shy and reach out.  

After all, everyone’s individual situation requires an individual and unique strategy and plan.

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