Toronto and Mississauga home prices were lower than a year earlier. September 2026 data shows weaker GTA sales, lower Toronto benchmark prices, and lower average sold prices across three Mississauga detached-home size bands.
These are measurable declines—not evidence that every home has lost the same percentage of its value. Buyers have more reason to check current comparables; sellers need prices that reflect today’s market instead of older expectations.
Toronto home prices fell across major property types
Toronto recorded 1,937 sales in September 2026 compared with 2,047 one year earlier. Its average selling price fell from $1,091,216 to $1,034,320 (approximately 5.2%). The City of Toronto composite MLS® HPI was down 3.8%.
Apartment prices were softer than detached prices on this benchmark measure, but results vary by neighbourhood and building. For local context, use the Toronto Real Estate Guide.
Where Mississauga detached-home prices moved lower
Peel Region’s HPI benchmark was down 4.8% overall. For a more specific Mississauga comparison, I reviewed sold detached homes in the same three square-foot bands for September 1–30 of both 2025 and 2026, using matching municipality and property-type filters.
| Detached size | 2025 avg sold | 2026 avg sold | Avg change | Sales: 2025 → 2026 |
|---|---|---|---|---|
| 1,100–1,500 sq. ft. | $1,070,875 | $1,003,275 | −6.3% | 34 → 40 |
| 1,500–2,000 sq. ft. | $1,220,915 | $1,067,391 | −12.6% | 44 → 32 |
| 2,000–2,500 sq. ft. | $1,301,421 | $1,229,683 | −5.5% | 58 → 55 |
Averages are not the whole story. The 1,100–1,500 sq. ft. median fell from $1,055,250 to $956,000 (−9.4%). The 1,500–2,000 sq. ft. median fell from $1,133,750 to $1,050,000 (−7.4%). The 2,000–2,500 sq. ft. median was almost unchanged: $1,235,000 versus $1,240,000 (+0.4%). The middle size band’s 2025 data included an unusually high-priced sale, making the median especially useful.
Combined Mississauga sample: Across these three detached-home size bands, the sales-weighted average price moved from about $1.218 million in September 2025 to $1.117 million in September 2026. Sales fell from 136 to 127 (−6.6%) and weighted average days on market rose from about 26.3 to 27.7.
The 8.2% change is for the specified matched detached-home sample—not a citywide index, repeat-sales measure, or estimate of any particular property’s value. Property mix, lot, condition and neighbourhood can affect averages. For local planning, read the Mississauga Real Estate Guide.
What this means for buyers and sellers
For buyers
Lower prices may create negotiating room, but a listing isn’t automatically a bargain. Check:
- recent sold prices for genuinely comparable homes;
- competing listings, marketing time and price changes;
- maintenance, property taxes and total ownership costs;
- financing approval, mortgage payment and cash to close.
For sellers
Pricing from older market highs can leave a home exposed to competing listings. Compare:
- recent closed sales—not just active asking prices;
- today’s alternatives for the same buyer;
- property condition, lot, upgrades and location;
- realistic timing and net proceeds.
Common Toronto and Mississauga housing questions
Are Toronto home prices falling in 2026?
They were lower year over year in September 2026. Toronto’s average sold price fell about 5.2%, and its HPI composite fell 3.8%.
Are Mississauga home prices falling?
Peel’s HPI was down 4.8%. In the specified Mississauga detached sample, average sold prices fell in all three size bands, while the largest band’s median was essentially flat.
Is this a housing crash?
These figures show a softer market with measurable annual price declines. They do not establish that every property has crashed or predict where prices go next.
Should a buyer wait until the market bottoms?
That depends on financing, employment stability, ownership costs and the specific home. Current comparable value is more useful than trying to predict the exact bottom.
Sources and methodology
TRREB: September 2026 GTA Market Watch and October 6, 2026 news release. Toronto and Peel HPI figures are year-over-year benchmark changes.
Mississauga: Aggregated PropTx MLS® sold statistics reviewed October 9, 2026. Filters: Mississauga, detached, sold September 1–30, years 2025 and 2026, same three square-foot ranges. The aggregated average and median figures can be affected by the mix and condition of sold properties.
This market update provides general information, not a forecast, property appraisal or mortgage, tax or legal advice.
Use neighbourhood-level comparables to make the broad market data relevant to your decision.