The GTA housing market in September 2026 was slow but not flooded. The Toronto Regional Real Estate Board (TRREB) reported 5,040 sales, down 9% from a year earlier, while new listings fell even faster at 14.4%. The average selling price was $1,006,409, down 5.1%. For bungalow buyers, that means more negotiating room than in past years, but fewer fresh listings to choose from.
Key takeaways
- GTA sales were 5,040 in September 2026, down 9% year over year.
- New listings were about 16,500, down 14.4%, so choice is shrinking too.
- The average detached home sold for $1,292,016, down 5.1%.
- Homes took an average of 34 days to sell on their current listing.
- Good bungalows on wide lots are still scarce, so the best ones move faster than the average.
The September 2026 numbers at a glance
TRREB released its September figures on October 6, 2026. Sales and prices both slipped compared with August on a seasonally adjusted basis. TRREB said buyers were in a holding pattern because of uncertainty about the economy, inflation and borrowing costs.
| Home type | Average price | Change from Sept 2025 | Sales |
|---|---|---|---|
| Detached | $1,292,016 | Down 5.1% | 2,399 |
| Semi-detached | $1,015,202 | Down 0.2% | 459 |
| Townhouse | $820,637 | Down 4.6% | 803 |
| Condo apartment | $605,257 | Down 7.7% | 1,316 |
The MLS Home Price Index composite benchmark was down 4.7% year over year. These are GTA-wide averages for all detached homes, not bungalows alone, so treat them as the backdrop rather than the price of any one house.
Why falling listings matter more than falling sales
When sales drop and listings pile up, buyers gain a lot of power. That is not quite what happened in September. Listings fell faster than sales, which means some sellers are choosing to wait rather than accept a lower price.
For bungalow buyers this matters because supply was already thin. Very few new bungalows are built in the GTA, so almost all of the supply comes from existing owners deciding to sell. If those owners sit tight, the number of good one-level homes on the market can shrink even in a soft market. Our guide to why bungalows are in demand in Ontario explains the long-term supply problem.
What this means if you are buying a bungalow
- You have time to do it properly. With homes averaging 34 days on market, conditions for financing and a home inspection are realistic again on many properties.
- Look at stale listings. A bungalow that has been listed, cancelled and relisted may have a seller who is ready to talk.
- Compare by lot, not only by house. Two bungalows with the same floor area can differ by hundreds of thousands of dollars because of frontage and location.
- Do not assume every seller will discount. Renovated bungalows on quiet streets still draw more than one buyer.
Bungalow tip: Ask your agent for recent sold prices of bungalows on similar lots within a few streets, not the city-wide detached average. Bungalows trade on land value more than most home types.
What this means if you are selling a bungalow
Buyers are cautious, so pricing and presentation count for more than they did in a hot market. Price against sales from the last 60 to 90 days rather than last spring. A pre-listing inspection can also remove a reason for buyers to hesitate, especially with an older home.
If you are selling a larger home to move into a bungalow, remember that you are buying and selling in the same market. A softer sale price is usually matched by a softer purchase price. Our seller’s guide walks through the steps.
What TRREB says could change the picture
TRREB’s chief information officer said there is substantial pent-up demand, but buyers want more confidence about their jobs and about inflation before they commit. The next Bank of Canada rate announcement on October 28 and the municipal elections on October 26 are both on buyers’ minds.
Frequently asked questions
Are bungalow prices falling in the GTA?
Detached prices overall were down about 5% year over year in September 2026. Bungalow prices vary widely by lot size and neighbourhood, so check local sold data. Our Toronto bungalow market report is a good starting point.
Is it a buyer’s market for bungalows right now?
Buyers have more leverage than in recent years on average, but supply of good bungalows remains limited. Expect room to negotiate on dated homes and less on move-in-ready ones.
Should I wait for prices to drop further?
Nobody can time the bottom reliably. If you find the right bungalow at a payment you can comfortably carry, today’s slower pace lets you buy with conditions and less pressure.
See what is on the market now
The best way to understand this market is to watch real listings. Browse bungalows for sale across Ontario and save a search to get new listings as they come up.
This article is general information as of early October 2026, not legal, tax, mortgage or insurance advice. Rules and numbers change, so confirm the details for your situation with a licensed professional.
