A new breakdown of GTA selling conditions shows how far the market has fallen from its peak
The seller's window that defined Canada's pandemic housing boom has narrowed considerably.
New data from Toronto real estate platform Wahi reveals that homes across the Greater Toronto Area (GTA) are now taking three to four times as long to sell compared to the first quarter of 2022 market peak, and the segment taking the hardest hit is condominiums.
Wahi's analysis of quarterly average days on market between 2020 and the second quarter of 2026 shows condos averaging 36 days to find a buyer in Q2 2026, up from approximately 32 days during the same period in 2025.
At the height of the pandemic-era frenzy, the same units were changing hands in under two weeks. Data from Toronto Regional Real Estate Board (TRREB) has consistently reflected those widening timelines, with average days on market rising throughout 2026 as inventory remains elevated and buyers hold the upper hand.
"Back in 2022, the average condo was getting snapped up in well under two weeks," said Ryan McLaughlin, economist at Wahi.
"However, since then, there has been a mass exodus of investors, federal reductions in immigration targets, and an ongoing trade war. The upshot is inventory levels remain near historic highs, giving condo buyers lots of room to negotiate pricing and conditions."
Read more: ‘I don’t see a bottom yet’: Toronto’s condo market makes a wretched start to 2026
Single-family homes show more resilience
Performance across non-condo property types has been comparatively measured, though days on market continued to inch upward across every category.
Semi-detached homes moved from an average of 18 days to 20 between Q2 2025 and Q2 2026, while detached houses edged from approximately 23 to 25 days over the same stretch.
Townhouses saw the most modest increase, rising just one day to approximately 24 days on average.
McLaughlin attributed the relative steadiness of townhouses to their appeal among both first-time buyers and those trading down from larger properties.
"As a preferred option for downsizers as well as first-time buyers, who may not be able to afford a detached home but don't want a condo, there appears to be a higher base level of demand for townhouses in the current market," he said.
In Q2, the median townhouse price across the GTA stood at $900,424, compared with $1,199,221 for detached homes, according to Wahi.
Victor Tran, Mortgage Agent at Tango Financial, says larger condo units and townhouse-style condos are attracting greater interest as buyers prioritize space, long-term livability, and value.https://t.co/FeOeQJHJXK
— Canadian Mortgage Professional Magazine (@CMPmagazine) September 18, 2026
The road back is a long one
The contrast with 2022 remains striking. At the peak of Q1 2022, detached homes were selling in approximately nine days, while semi-detached and townhouse properties were finding buyers in roughly one week.
Since then, average days on market have risen year over year in each successive quarter, a streak the Wahi data suggests continued through at least mid-2026.
With inventory near historic highs and buying intent among GTA households declining, the scale of the reset still underway.
For brokers, that means client conversations about the GTA market must now account for a prolonged sales timeline as a baseline, not an exception.
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