Mississauga & GTA Real Estate Market Update – 2026 Edition
Real Estate Prices UP and Sales Volume UP Newsletter Issue 02:26
This month’s Real Estate Update brings you the latest insights from the Mississauga, Toronto, and GTA markets. I hope you enjoy the update and find it helpful as you navigate our ever‑changing real estate landscape. — Lindsay
Current Market Snapshot – February 2026
The GTA housing market continues to show signs of renewed strength as we move through early 2026. Buyer confidence has improved, inventory levels remain balanced, and interest rate expectations have shifted toward stability.
Average Selling Price (Most Recent Month)
The average selling price last month was $1,094,850, up from $1,084,692 the previous month. This represents a 2.6% year‑over‑year increase, reflecting steady upward pressure on prices across most home types.
Sales Activity
GTA REALTORS® reported 4,312 sales through TRREB’s MLS® System last month — an improvement over the same period last year, signaling stronger buyer engagement as borrowing‑cost expectations stabilize.
New Listings
New listings remain moderate, helping support price growth. While inventory is higher than the ultra‑tight conditions of 2021–2022, supply remains below long‑term norms.
MLS® Home Price Index
The MLS® HPI Composite benchmark is up slightly year‑over‑year, indicating that underlying home values have firmed after the declines seen in 2023.
Interest Rate Update – 2026
The Bank of Canada’s policy interest rate currently stands at 5.00%, where it has remained since mid‑2023. Key points:
- Inflation has eased but remains above the 2% target.
- The Bank continues to signal a cautious stance, emphasizing data‑dependence.
- Economists are divided on the timing of the first rate cut, but consensus suggests late 2026 unless economic conditions soften sooner.
Historical Context (for readers following the rate cycle)
- March 8, 2023: BoC held the benchmark rate at 4.50% after eight consecutive increases.
- January 2023: Rate increased to 5.00%, part of the aggressive tightening cycle that began in March 2022 (from 0.25%).
- Prime rate for most lenders currently sits at 7.20%.
Market Recap: 2023, 2022 & 2021
These historical averages remain unchanged and are included exactly as originally reported:
2023
- Average selling price: $1,126,604
- Down 5.4% compared to 2022
- 65,982 sales (‑12.1% vs. 2022)
- MLS® HPI Composite benchmark down 1.7%
2022
- Average selling price: $1,189,850
- Up 8.6% compared to 2021
- Prices peaked in February 2022, then declined through year‑end
2021
- Average selling price: $1,095,475
- Up 17.8% compared to 2020
Historical Average Selling Prices (unchanged)
| Year | Average Price | % Change |
|---|---|---|
| 2020 | $929,699 | +13.5% vs 2019 |
| 2019 | $819,319 | +4% vs 2018 |
| 2018 | $787,185 | –4.5% vs 2017 |
| 2017 | $822,681 | +12.7% vs 2016 |
| 2016 | $729,922 | +17.3% vs 2015 |
| 2015 | $622,217 | +9.8% vs 2014 |
| 2014 | $566,726 | +8.4% vs 2013 |
| 2013 | $523,036 | +5.2% vs 2012 |
| 2012 | $497,130 | — |
Final Thoughts
The GTA market is entering 2026 with renewed momentum. Prices are trending upward, sales activity is strengthening, and consumer sentiment is improving as rate stability becomes more likely. While affordability remains a challenge for many buyers, balanced inventory and steady demand continue to support a healthy market environment.