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September 2026: Housing Market Conditions Vary Across Property Types
Sergey Korostensky
Tuesday, October 13, 2026
September home sales totalled 1,650 units, similar to August and nearly four per cent lower than September 2025. Stronger detached home sales helped offset the typical seasonal slowdown. New listings also increased, bringing the sales-to-new-listings ratio to 49 per cent and keeping inventory levels relatively stable. Months of supply remained just under four months. However, market conditions varied by property type, with detached homes remaining relatively balanced while row homes and apartment condominiums experienced buyer-favourable conditions due to higher supply and increased competition from new construction and rental alternatives.
The increase in higher-density housing construction over the past three years has contributed to greater supply in the row home and apartment condominium markets. Meanwhile, detached home construction has not experienced the same growth, helping maintain more balanced conditions in that sector. Although a stronger job market and positive net migration have supported housing demand, demand has not been sufficient to absorb all the additional supply. The unadjusted residential benchmark price was $566,700 in September, nearly one per cent lower than a year earlier. Most price declines occurred in higher-density properties, with row home prices falling nearly six per cent and apartment condominium prices declining more than eight per cent year over year. Detached prices were down one per cent, while seasonal adjustments accounted for much of the monthly price movement.
Detached home sales reached 896 units in September, increasing from August and exceeding last year's level by more than four per cent. With a sales-to-new-listings ratio of 52 per cent and just over three months of supply, conditions remained relatively balanced, although supply varied across districts. Semi-detached sales increased year over year, but year-to-date sales declined by two per cent to 1,678 units. Increased September listings brought the sales-to-new-listings ratio to 45 per cent and pushed supply to nearly four months. The benchmark price for semi-detached homes was $685,200, comparable to last year's level. Row home sales eased while new listings increased, pushing months of supply above four for the first time since the beginning of the year. The benchmark price fell to $412,400, nearly six per cent below September 2025. Apartment condominium sales improved from August, but remained 14 per cent lower year over year. With 343 sales and 717 new listings, the sales-to-new-listings ratio was 48 per cent, and supply remained just above five months. The benchmark price declined to $291,400, more than eight per cent below the previous year, with seasonally adjusted prices continuing to trend downward.
In surrounding communities, market conditions reflected differing levels of demand and supply. One community experienced a 13 per cent year-to-date decline in sales, with increased competition from new construction contributing to softer demand. Inventory declined from August, but months of supply rose to four as sales fell more quickly. Its residential benchmark price was $505,800, nearly four per cent below last year, with the largest declines in higher-density properties. Another community recorded year-to-date sales growth of nearly six per cent despite a monthly slowdown. Rising new listings, including a substantial share of newly built homes, brought the sales-to-new-listings ratio down to 42 per cent and increased supply to five months. Prices improved from August and remained close to last year's levels. A third community maintained relatively tight conditions, with just over two months of supply despite a decline in its sales-to-new-listings ratio to 76 per cent. Its benchmark price was $606,800, stable compared with the previous September and one per cent lower year to date.
In a fourth surrounding community, September sales increased, helping offset some of the growth in new listings. Although the sales-to-new-listings ratio remained relatively low at 38 per cent, inventory declined from August and months of supply fell below six. Significant new construction and competition from nearby markets have placed downward pressure on prices in recent months. Nevertheless, year-to-date prices were only one per cent lower than the previous year. The September residential benchmark price was $690,200, lower than in August but similar to the level recorded a year earlier. Overall, September's housing market showed relatively stable aggregate sales and inventory, but significant differences between property types and communities. Detached homes generally maintained more balanced conditions, while higher-density properties continued to face greater supply pressures and more substantial price declines.
The increase in higher-density housing construction over the past three years has contributed to greater supply in the row home and apartment condominium markets. Meanwhile, detached home construction has not experienced the same growth, helping maintain more balanced conditions in that sector. Although a stronger job market and positive net migration have supported housing demand, demand has not been sufficient to absorb all the additional supply. The unadjusted residential benchmark price was $566,700 in September, nearly one per cent lower than a year earlier. Most price declines occurred in higher-density properties, with row home prices falling nearly six per cent and apartment condominium prices declining more than eight per cent year over year. Detached prices were down one per cent, while seasonal adjustments accounted for much of the monthly price movement.
Detached home sales reached 896 units in September, increasing from August and exceeding last year's level by more than four per cent. With a sales-to-new-listings ratio of 52 per cent and just over three months of supply, conditions remained relatively balanced, although supply varied across districts. Semi-detached sales increased year over year, but year-to-date sales declined by two per cent to 1,678 units. Increased September listings brought the sales-to-new-listings ratio to 45 per cent and pushed supply to nearly four months. The benchmark price for semi-detached homes was $685,200, comparable to last year's level. Row home sales eased while new listings increased, pushing months of supply above four for the first time since the beginning of the year. The benchmark price fell to $412,400, nearly six per cent below September 2025. Apartment condominium sales improved from August, but remained 14 per cent lower year over year. With 343 sales and 717 new listings, the sales-to-new-listings ratio was 48 per cent, and supply remained just above five months. The benchmark price declined to $291,400, more than eight per cent below the previous year, with seasonally adjusted prices continuing to trend downward.
In surrounding communities, market conditions reflected differing levels of demand and supply. One community experienced a 13 per cent year-to-date decline in sales, with increased competition from new construction contributing to softer demand. Inventory declined from August, but months of supply rose to four as sales fell more quickly. Its residential benchmark price was $505,800, nearly four per cent below last year, with the largest declines in higher-density properties. Another community recorded year-to-date sales growth of nearly six per cent despite a monthly slowdown. Rising new listings, including a substantial share of newly built homes, brought the sales-to-new-listings ratio down to 42 per cent and increased supply to five months. Prices improved from August and remained close to last year's levels. A third community maintained relatively tight conditions, with just over two months of supply despite a decline in its sales-to-new-listings ratio to 76 per cent. Its benchmark price was $606,800, stable compared with the previous September and one per cent lower year to date.
In a fourth surrounding community, September sales increased, helping offset some of the growth in new listings. Although the sales-to-new-listings ratio remained relatively low at 38 per cent, inventory declined from August and months of supply fell below six. Significant new construction and competition from nearby markets have placed downward pressure on prices in recent months. Nevertheless, year-to-date prices were only one per cent lower than the previous year. The September residential benchmark price was $690,200, lower than in August but similar to the level recorded a year earlier. Overall, September's housing market showed relatively stable aggregate sales and inventory, but significant differences between property types and communities. Detached homes generally maintained more balanced conditions, while higher-density properties continued to face greater supply pressures and more substantial price declines.
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