2026 Q2 · Ontario

Toronto Home Appraisal Market Report

Detached segment regained pre-2022 benchmark; condo segment lagged through assignment-driven softness in the core.

Snapshot

Key benchmarks

Benchmark detached

$1.46M

+2.8% YoY

Benchmark condo apartment

$682K

−1.4% YoY

Months of inventory

2.6

−0.4 YoY

Sales-to-new-listings ratio

54%

+6pts YoY

Avg days on market

−4 days YoY

What it means for appraisals

Implications this quarter

•Pre-construction assignment appraisals continue to come in below original purchase price in 2020-2022 vintage projects.
•Refi appraisal volume up sharply quarter-over-quarter as 5-year terms renew into a lower rate environment.
•Estate appraisal demand remains elevated in legacy east-end and North York stock.

Order mix

Why people order in Toronto

Refinance / HELOC38%

Dominant driver; high-equity detached.

Divorce / family law18%

Equalization-date retrospectives.

Estate / probate16%

Aging owner cohorts.

Purchase mortgage14%

Active in mid-tier detached.

CRA / capital gains8%

Change-in-use on rental conversion.

Pre-listing6%

Private sales, FSBO.

Watch items

On the horizon

•Vacant Home Tax declarations due March 2027 — assessed-value challenges expected.
•Inclusionary Zoning implementation in PMTSAs reshapes pro-forma for new condo stock.

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