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
21
−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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