July continued to favor buyers across most GTA markets, with inventory remaining elevated and many home prices softening. While there are still pockets of strength, buyers generally have more selection, more negotiating power, and less pressure to compete.

Detached homes in Mississauga, Brampton, Milton, Oakville, and Vaughan all remained in balanced to buyer’s market territory, with prices declining in most areas. Burlington stood out as the strongest detached market, sitting close to a seller’s market with just 2.6 months of inventory.

Townhomes and condos continue to offer the best opportunities for buyers. Condo apartments saw the highest inventory levels in nearly every city, including Mississauga (7.23 MOI), Brampton (9.59), Milton (5.63), Oakville (5.89), Burlington (5.17), and Vaughan (6.42). Higher inventory means buyers have more choice and greater negotiating leverage.

Not every market moved in the same direction. Some segments, like Oakville detached homes and Vaughan condo townhouses, experienced price increases despite higher inventory. This shows that desirable homes, priced correctly, are still attracting buyers.

What This Means

For Buyers:
Now is a great time to shop. More listings, fewer bidding wars, and increased negotiating power create opportunities that haven’t been available in years.

For Sellers:
Pricing your home correctly is more important than ever. Buyers have options, so homes that are well-presented and competitively priced continue to sell, while overpriced listings often sit on the market.

Overall, July’s numbers show a market that is becoming more balanced, but conditions vary by city and property type. Understanding your local market is key before making a move.

Thinking about buying or selling? Reach out for a personalized market analysis for your neighbourhood.