Canada’s August home sales slipped as new listings rose 3.3%

Canada’s resale market entered the early fall with more homes coming to market, but without a matching lift in sales. National transactions declined 0.7% from July to August on a seasonally adjusted basis, while newly listed properties increased 3.3%.

The figures are from the Canadian Real Estate Association’s September 15 market release. They describe activity across Canadian MLS® systems—not the Greater Toronto Area by itself—and should not be used as a substitute for current local board data.

Supply improved faster than demand

CREA says national sales activity has been largely unchanged since May. In August, the 0.7% monthly decline arrived as new listings reversed three consecutive monthly decreases and rose 3.3%.

That divergence moved the national sales-to-new-listings ratio down to 49.1% from 51.1% in July. CREA places its long-run average at 54.7% and generally associates readings between 45% and 65% with balanced conditions. The August ratio therefore points to a balanced national market, with slightly more negotiating room than the July reading implied.

There were 4.8 months of inventory at the end of August, unchanged for a fourth month and just below the long-term national average of five months. In practical terms, the market added fresh selection without creating a sudden excess of supply.

Prices were stable month to month

The National Composite MLS® Home Price Index was unchanged from July. On a non-seasonally adjusted basis, the index was 3.0% below August 2025, although CREA notes that annual declines have been narrowing since January.

The national average sale price was $668,219, up 0.6% from a year earlier. Average price and the MLS® HPI are different measures. CREA cautions that the average can be affected by the mix and location of homes sold, which is why neither national figure should be treated as the likely value of a particular Toronto-area property.

Actual, non-seasonally adjusted sales activity was 6.9% below August 2025. Read together, the data describes a market where activity remained subdued, the benchmark held steady month to month and sellers brought more properties forward for the fall window.

The GTA reading requires local evidence

CREA says the increase in new supply was broad-based across the largest markets, particularly late in August, but the release does not publish a standalone GTA sales, price or inventory table. Any Toronto-area pricing decision still needs current neighbourhood comparables and the appropriate local board statistics.

For GTA buyers, the national shift supports a disciplined search: compare new listings with recent sales, distinguish asking price from market value and confirm financing before making an offer. More listings can improve choice, but a 4.8-month national inventory measure does not guarantee buyer-friendly conditions in every neighbourhood or property type.

For sellers, the fall market may bring more competition for attention. Presentation, launch timing and a price anchored to recent local evidence matter more when buyers have additional alternatives. The national 3.3% increase in new listings is a signal to watch—not proof that every GTA segment has moved the same way.

The clean takeaway is measured. Canada’s resale market did not accelerate in August; supply improved, sales softened slightly and the national benchmark was flat from July. The next decision should begin with local data, not a national headline.