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Toronto · For homebuyers
First-time home buyer guide: Toronto
Toronto has 9,549 homes for sale in November 2026. 5,401 listings (48%) ask under $750,000, and 2,697 under $500,000. The lowest-priced common type is condo apartments, at a median asking price of $575,000.
- 9,549homes for sale
- 5,401asking under $750K
- $575,000median condo apartments
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What it takes to buy in Toronto, by home type
At today’s median asking price for each type: the minimum down payment, and the land transfer tax a first-time buyer pays after the rebates (Ontario and Toronto).
| Home type | Median asking | Minimum down | Land transfer tax | Rebate saves |
|---|---|---|---|---|
| Condo apartments | $575,000 | $32,500 | $7,475 | $8,475 |
| Condo townhouses | $699,000 | $44,900 | $12,435 | $8,475 |
| Semi-detached houses | $999,999 | $75,000 | $24,475 | $8,475 |
| Detached houses | $1,526,500 | $305,300 | $45,535 | $8,475 |
Estimates, not advice: confirm with your lender and lawyer. Rules as checked 2026-11-11: down payment, Ontario refund, Toronto rebate. Run your own numbers in My Plan.
Toronto neighbourhoods with the lowest median asking price
| Neighbourhood | Homes for sale | Median asking |
|---|---|---|
| Flemingdon Park | 46 | $454,450 |
| Elms-Old Rexdale | 21 | $462,440 |
| Crescent Town | 31 | $469,950 |
| Agincourt South-Malvern West | 67 | $499,000 |
| Eglinton East | 47 | $499,000 |
| Milliken | 28 | $499,500 |
Neighbourhoods with five or more homes for sale. A low median often reflects more condos, not cheaper houses: open each one to see its mix.
Programs first-time buyers can use
- An FHSA lets a first-time buyer save $8,000 a year (up to $40,000), deduct it from income and take it out tax-free for a first home. It can be combined with the Home Buyers’ Plan. Source
- First-time buyers can take up to $60,000 each out of their RRSP tax-free for a home and repay it over 15 years (it is your own savings, not a grant). Source
- First-time homebuyers get back up to $4,000 of Ontario land transfer tax (all of it up to a $368,000 price). Source
- First-time purchasers get back up to $4,475 of Toronto land transfer tax, on new and resale homes. Source
- An insured mortgage (less than 20% down) is limited to 25 years, or 30 years when a buyer is a first-time buyer or the home is newly built (never lived in). With 20% or more down, most lenders offer up to 30 years (lender practice, not a federal rule). Source
- First-time buyers claim the $10,000 home buyers’ amount on their tax return; at the 14% rate for 2026 it lowers federal tax by up to $1,400 (shared between buyers). Source
Your first purchase, step by step
- Get pre-approved, so you know your real budget and rate hold.
- Open an FHSA early: the contribution room starts the year you open it.
- Shortlist two or three Toronto neighbourhoods from the table above and set alerts for them.
- See homes with a buyer’s agent who works for you, and check status certificates for condos.
- Make an offer with the right conditions (financing, inspection), then close with a real estate lawyer.
More for Toronto
Who you’ll hear from
Quan Ve and Avi Samaroo, licensed REALTORS® with Century 21 Atria Realty Inc., Brokerage, 946 Portage Parkway, Vaughan.
We reply by text, phone or email, when it suits you. No pressure and no obligation.
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