Toronto condo sellers list now when they have a firm timeline or can price sharply against current competition, and they wait only when there's a specific plan to improve the unit or the timing. In September 2026, GTA new listings fell 14.4% year over year, but condo apartments still ended the month with 8,226 active listings and averaged 42 days on market, according to the Toronto Regional Real Estate Board (TRREB) September 2026 Market Watch. Fewer new listings does not mean automatic bidding wars.
Key Takeaways
GTA new listings fell 14.4% year over year to 16,500 in September 2026, while total sales fell 9% to 5,040, so listings dropped faster than sales.
GTA condo apartments ended September 2026 with 8,226 active listings, an average of 42 days on market, and a 97% sale-to-list-price ratio.
The average GTA condo-apartment price was $605,257 in September 2026, down 7.7% year over year, and the City of Toronto average was $640,248 across 884 sales.
New listings (4,523 for GTA condo apartments in September) and active listings (8,226) are different measures, and buyers still have real choice.
Waiting does not guarantee a higher price, fewer competing units, or a faster sale, so the decision comes down to your timeline and your pricing.
What does the drop in new listings mean for Toronto condo sellers?
It means less new supply is arriving each month, but it does not mean buyers are short of options. The latest TRREB data available is for September 2026, and it shows listings falling faster than sales, which is worth knowing but not a reason to price aggressively high.
According to TRREB's Market Watch, GTA REALTORS® reported 5,040 total home sales in September 2026, down 9% year over year. New listings came in at 16,500, down 14.4%. Active listings ended the month at 26,131, down 9.3% from September 2025, and the overall average time to sell was 34 days compared with 33 days a year earlier.
Here's the practical read. When Toronto condo sellers list into a market with thousands of active condo apartments, a buyer comparing your unit to three or four others in the same building or nearby is still the norm. Fewer new listings helps you at the margin. It does not do the pricing work for you.
What's the difference between new listings and active listings?
New listings are units that came to market during the month, and active listings are everything still for sale at month-end. They are not interchangeable, and mixing them up is how sellers talk themselves into the wrong strategy.
In September 2026, GTA condo apartments had 4,523 new listings but 8,226 active listings at month-end. That gap tells you many units were sitting on the market, not just flowing through. Here are the September 2026 figures I'd put in front of any condo seller:
Condo-apartment sales: 1,316
Condo-apartment average price: $605,257 (down 7.7% year over year)
Condo-apartment new listings: 4,523
Condo-apartment active listings at month-end: 8,226
Condo-apartment average days on market: 42
Condo-apartment sale-to-list-price ratio: 97%
Condo-townhouse sales / median price / average days on market: 355 / $659,000 / 40
Source: TRREB September 2026 Market Watch. These are market-level figures, not predictions for your unit.
Is the City of Toronto different from the rest of the GTA?
Yes. The City of Toronto condo-apartment average was $640,248 across 884 sales in September 2026, compared with $605,257 for the GTA as a whole. Treating "GTA condo" as one market is a mistake.
Supply is also lopsided. Storeys, reporting TRREB data, put Toronto's active condo-apartment listings at 5,329 at the end of September 2026, against 2,897 in the 905. If you own in the city, you're competing in the deeper pool. If you own in Markham, Vaughan, or Richmond Hill, your comparison set is different, and so is your pricing conversation.
One caution: a city-wide average blends many submarkets. It is not a valuation for your building. That's what a proper comparison of recent closed sales does, and it's the first thing I do with a seller.
When should you list now, and when can you wait?
List now if you need to move on a timeline or can price against the active competition. Wait only if you aren't time-sensitive and you have a concrete reason, such as a presentation fix or a target listing window, that waiting actually solves.
When does listing now make sense?
Listing now fits when one or more of these is true:
You have a firm move date, such as a job, a purchase you've already lined up, or a lease ending.
Your unit is differentiated, with a strong layout, exposure, parking, or locker that buyers can't find in every competing listing.
You're ready to price to the market, not to what you hope the market will do.
With a 42-day average for GTA condo apartments, you should plan for exposure, showings, negotiation, and the possibility of a price adjustment. That's a planning benchmark, not a promised timeline. If you're also buying, my post on buying a new home before selling your old one walks through how to sequence it.
When can waiting be reasonable?
Waiting can work if you're not under time pressure and you'll use the time. That might mean resolving condition issues, refreshing the unit, or aiming for a later seasonal window, such as early in the new year, when some buyers return to the market with fresh plans.
What waiting does not do is guarantee a better outcome. Prices, rates, and the number of competing units in your building can all change. Bank of Canada rate decisions move buyer sentiment, but nobody times them reliably, and I'd never build a sale strategy around guessing one. For a broader framework, see is now a good time to buy or sell?
How should you price and prepare your condo before listing?
Price against the units buyers will actually compare yours to, not against a city-wide average or a number you saw online. The 97% sale-to-list-price ratio for GTA condo apartments in September 2026 is a market-level statistic, not a pricing rule. Your unit can sell above or below it.
What goes into a proper condo comparison?
When I walk my clients through pricing, we compare your unit with nearby buildings and similar units on:
Building and floor
Exposure and view
Parking and locker
Maintenance fees
Layout and condition
Recent closed sales, not just current asking prices
Closed sales tell you what buyers paid. Asking prices only tell you what other sellers hope for. With the GTA condo-apartment average down 7.7% year over year, leaning on last year's numbers is a common and costly mistake. If you want context on where affordability sits, see my take on Toronto condo affordability.
Should you price below the comparable listings?
Not automatically. Pricing below comparables can draw traffic, but it isn't right for every unit, and I'd decide it with you after reviewing the competing inventory in your building. Overpricing is usually the bigger risk, because a unit that sits loses leverage in negotiation. Your offers will carry conditions such as financing or status certificate review, so a clean, well-priced listing keeps those negotiations short. Your real estate lawyer then handles the closing and holds the deposit in trust.
Your specific number depends on your unit, your building, and your timing. That's where a local market analysis comes in, and it's the conversation I'd rather have with you before a sign goes up, not after. My team also works with trusted trades, mortgage, and insurance professionals, so if your unit needs prep work or you're coordinating a purchase, you're not chasing referrals on your own.
If you'd like to see what past clients say about working with us, you can read Elena's reviews on Google.
FAQ
Should I list my Toronto condo now or wait until spring 2027?
List now if you have a move date or a competitive price in mind. Wait for spring only if you have a specific reason, like completing prep work, because waiting doesn't guarantee a higher price or fewer competing units. I can run both scenarios with you before you commit.
Are Toronto condo prices expected to rise after the decline in listings?
Nobody can promise that. The GTA condo-apartment average in September 2026 was $605,257, down 7.7% year over year, and 8,226 condo apartments were still active. Fewer new listings can support prices, but it hasn't produced automatic gains in the data.
How long are Toronto condos taking to sell?
GTA condo apartments averaged 42 days on market in September 2026, and condo townhouses averaged 40. Your unit could take less or more depending on price, condition, and competing inventory in your building. Treat 42 days as a planning benchmark, not a guarantee.
Is there less competition for sellers because listings are down?
Somewhat less new competition, but still a lot of choice for buyers. Toronto had 5,329 active condo-apartment listings at the end of September 2026, per Storeys. The relevant competition is the other units in your building and nearby, which I'd map out for you before listing.
Does a maintenance-fee increase affect when I should sell?
It can, because maintenance fees are one of the first things buyers compare, and their lawyers review the building's status certificate. If your building's fees are changing, we should look at how your unit compares to similar ones before choosing your listing date. The right timing depends on your building, so ask me to review it with you.
Ready to decide?
The September 2026 numbers say the same thing: Toronto condo sellers list into a market with fewer new listings but plenty of active ones, so pricing and preparation matter more than timing tricks. I'll tell you the truth about your price and your options, even when it isn't what you hoped to hear. Book a free consultation and we'll map out list-now versus wait for your unit, or request a free home evaluation to start with your numbers.
About Elena Gordon
Elena Gordon leads the Gordon Group Real Estate Team, serving buyers, sellers, and investors across Newmarket, Aurora, Richmond Hill, Vaughan, Markham, and Toronto with more than 20 years of experience. She holds SRES and SRS designations, and nearly 80% of her team's business comes from repeat clients and referrals.
RE/MAX Realtron Realty Inc., Brokerage · 647-400-9603
Elena Gordon, Broker, is registered with the Real Estate Council of Ontario (RECO). Gordon Group Real Estate Team, RE/MAX Realtron Realty Inc., Brokerage. This article is general information, not legal, tax, or financial advice. Confirm your own numbers with your real estate lawyer, tax advisor, or lender.