New home sales in the Greater Toronto Location showed minimal enhancement in February 2026, though activity continued to track well listed below historical standards, according to the newest from the Structure Market and Land Advancement Association (BILD).
There were 531 new homes offered throughout the GTA last month, up 16% from February 2025 but still 76% listed below the 10-year average of 2,251 units for the month, based on data from Altus Group, BILD’s official source for new home market intelligence.
“New home sales in February 2026 continued to fall well short of historic norms with only a modest increase from the previous year’s record low for the month,” stated Edward Jegg, Research Study Supervisor at Altus Group. “A steady rate of interest environment coupled with elevated stock levels present potential purchasers with a lot of chance to buy a brand-new home. However, relentless issues around affordability and geopolitical stress continue to weigh on buyers’ minds.”
Condominium home sales– including units in low-, medium-, and skyscrapers and stacked townhouses– totalled 171 units in February, down 2% year-over-year and 88% below the 10-year average. Single-family homes, that include separated, linked, and semi-detached houses and townhouses (leaving out stacked townhouses), accounted for 360 sales, up 27% from the very same month last year but still 57% listed below the long-lasting norm.Total remaining
brand-new home stock in the GTA held relatively consistent month-over-month, at 20,291 units in February. That figure breaks down to 14,291 condominium apartment or condo units and 6,000 single-family homes, representing a combined 27 months of supply based upon average sales over the previous 12 months.Despite the extended sales downturn, BILD is indicating a merging of elements it says positions the market for a more significant healing in the months ahead. At the centre of that outlook is the just recently revealed short-term elimination and reduction of the HST on brand-new homes– a joint procedure presented last week by the Province and the Fed.”With the short-lived harmonized sales tax cut revealed last week by the Ontario and federal government for all new home buyers, now is really the very best time in a decade for those aiming to buy a brand-new home to enter into the marketplace,”said Justin Sherwood, Chief Operating Officer at BILD.” The suspension of the harmonized sales tax on new homes under$1 million and further HST reductions on homes from $1 million to$ 1.85 million, integrated with housing costs having actually moderated over 20%typically considering that 2022, and unequaled product option due to high stock level– homebuyers have a historic opportunity to get in the market. Now actually is the time for those wishing to purchase a brand-new home to take advantage of present market conditions and the time-bound tax relief.”On the pricing front, the benchmark price for new condo houses in
the GTA held at$1,022,063 in February, staying at what BILD has actually identified as an obvious price flooring. The benchmark cost for brand-new single-family homes stood at$1,423,219, down 7.4%over the past 12 months.In Simcoe County, February recorded 34 brand-new single-family home sales and one condo home sale. The weighted average
rate of brand-new single-family homes in the county was $1,153,653.