August 2026 Market Update

August is traditionally one of the quieter months of the year for real estate. With summer holidays in full swing, many buyers and sellers are away, and those hoping to purchase a home before the start of the school year have typically completed their search earlier in the summer.

Looking at the August statistics, the number of homes sold was either down from July or relatively consistent with July’s numbers. Average sale prices were also generally very similar to the previous month, with one notable exception: Orillia.

Orillia’s average sale price was significantly higher than July’s figure. However, looking more closely at the sales, there were several multimillion dollar properties that sold in July. These higher end transactions appear to have had a significant impact on the monthly average and help explain what would otherwise appear to be an unusual change in pricing.

When comparing August 2026 with August 2025, the number of homes sold was remarkably similar. This suggests that, despite the ups and downs we have seen throughout the year, overall sales activity remains relatively stable when viewed from a year over year perspective.

What Do These Numbers Tell Us?

The market remains relatively slow, with modestly priced homes continuing to account for the majority of sales. After the significant decline in prices and activity that followed the post COVID market peak, it appears that the market has essentially flat lined.

While the number of homes changing hands continues to fluctuate from month to month, pricing has been relatively consistent for some time now. This suggests that we may be entering a period of greater stability, although activity remains well below the levels we experienced during the stronger years of the market.

Larger and higher priced homes are still selling, but they are generally taking longer to find buyers. As we have seen throughout much of the market, pricing remains critical Homes that are appropriately priced continue to attract interest, while properties priced above current market expectations can take considerably longer to sell.

Looking Ahead

The big question now is what the fall market will bring. Traditionally, September and October can bring an increase in real estate activity as people return from summer vacations and refocus on buying and selling.

A meaningful increase in sales volume this fall would certainly be welcomed. For now, however, the market continues to favour buyers who are patient and selective, while sellers need to remain realistic about current market conditions and price their properties accordingly.

Barrie
Homes Sold. 107
Average Sale Price. 738,068
Average Days on Market. 37
Percentage of Asking Price. 98%

Innisfil
Homes Sold. 41
Average Sale Price. 757,266
Average Days on Market. 26
Percentage of Asking Price. 96%

Orillia
 Homes Sold. 35
Average Sale Price. 769,360
Average Days on Market. 45
Percentage of Asking Price. 96%
 
Oro-Medonte
 Homes Sold. 23
Average Sale Price: 948,978
Average Days on Market. 31
Percentage of Asking Price. 97%
 
Springwater
 Homes Sold. 22
Average Sale Price. 1,069,382
Average Days on Market. 36
Percentage of Asking Price. 97%
 
Essa
 Homes Sold. 19
Average Sale Price. 804,321
Average Days on Market. 40
Percentage of Asking Price. 96%

*All stats are based on listings sold with the Toronto Regional Real Estate Board

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