Buying a House Cost in Toronto (2026)
Quick Answer
Partially verifiedBuying a house in Toronto typically means a purchase price in the high hundreds of thousands to well over CAD 1 million, with detached homes usually costing much more. Official market reporting from the Toronto Regional Real Estate Board shows the average selling price for all home types in the City of Toronto was CAD 1,099,163 in August 2024, while detached homes averaged CAD 1,696,424. Beyond the purchase price, buyers should also budget for Toronto/Ontario land transfer tax, legal fees, title insurance, a home inspection and closing adjustments.
Overview
In Toronto, the cost of buying a house depends heavily on property type, neighbourhood and whether you are buying a condo apartment, townhouse, semi-detached or detached home. For a broad benchmark, the Toronto Regional Real Estate Board (TRREB) reported that the average selling price across all home types in the City of Toronto was CAD 1,099,163 in August 2024. Within that, condo apartments were much lower on average than detached houses, while detached homes remained the most expensive segment by a large margin. Buyers also need to account for upfront transaction costs. In Toronto, both the Province of Ontario and the City of Toronto levy land transfer tax on most purchases, which can add tens of thousands of dollars on higher-value homes. Mortgage default insurance may also apply if your down payment is under 20%, though that premium is usually added to the mortgage rather than paid entirely in cash at closing. Other common costs include legal fees and disbursements, title insurance, a home inspection and moving expenses. Because Toronto prices can shift noticeably month to month, it is best to treat market averages as a current snapshot rather than a guaranteed purchase price. Your actual total cost can vary significantly based on home type, financing and location within the city.
What It Costs
| Item | Cost | Evidence |
|---|---|---|
| Average selling price, all home types, City of Toronto(per property) Average selling price for all home types in the City of Toronto. | C$1,099,163 | Verified from source |
| Average selling price, detached house, City of Toronto(per property) Average selling price for detached homes in the City of Toronto. | C$1,696,424 | Verified from source |
| Average selling price, semi-detached house, City of Toronto(per property) Average selling price for semi-detached homes in the City of Toronto. | C$1,311,817 | Verified from source |
| Average selling price, townhouse, City of Toronto(per property) Average selling price for townhouse properties in the City of Toronto. | C$1,031,800 | Verified from source |
| Average selling price, condo apartment, City of Toronto(per property) Average selling price for condo apartments in the City of Toronto. | C$688,055 | Verified from source |
| Buyer closing costs excluding down payment and taxes based on purchase price(per purchase) Estimated range for typical legal fees, title insurance, home inspection and miscellaneous closing disbursements in Toronto, excluding land transfer tax and mortgage-related charges. | ~C$1,500 – C$5,000 | Estimated range |
What’s Typically Included
- Purchase price of the property
- Typical buyer transaction costs such as legal work and title insurance
Regulator / licensing: Real Estate Council of Ontario (RECO)
Variants & Configurations
How Fees Work
Main costs are the purchase price, down payment, land transfer tax, legal and registration costs, and possible mortgage insurance or lender fees.
Factors Affecting Price
- Property type: detached homes cost far more than condos and townhouses in Toronto.
- Neighbourhood: central and transit-rich districts usually command higher prices than outer areas.
- Condition and size: renovated homes and larger lots typically sell at a premium.
- Market timing: prices can move with interest rates, supply levels and seasonal demand.
- Transaction costs: Toronto buyers face both Ontario and municipal land transfer tax.
Local Context
Toronto buyers usually face higher transaction costs than buyers in many other Canadian municipalities because the city charges its own municipal land transfer tax on top of Ontario land transfer tax. Condo purchases may also involve monthly maintenance fees, while freehold houses can bring higher repair, insurance and property tax costs. Bidding competition and neighbourhood differences can create large price gaps even within the same home category.
Some figures here are still being verified.
Where a verified figure isn’t available yet, we say so rather than guess. For the most current pricing, check the official source below.
All prices are in Canadian dollars (CAD).
Sources & References
Every price on this page is traced to a documented source. Last checked 24 September 2026.
- Toronto Regional Real Estate Board (TRREB) Market Watch, August 2024 · industry
Average selling prices in the City of Toronto for all home types, detached, semi-detached, townhouse and condo apartment.
- Ontario Land Transfer Tax · government
Ontario land transfer tax applies to property purchases and includes information on rates and rebates.
- City of Toronto Municipal Land Transfer Tax · government
Toronto municipal land transfer tax applies in addition to Ontario land transfer tax, with information on rates and rebates.
- Canada Mortgage and Housing Corporation (CMHC) Mortgage Loan Insurance · official
Mortgage loan insurance is generally required for down payments under 20% and premium rules depend on loan-to-value.
- Real Estate Council of Ontario (RECO) · official
Regulator for real estate agents and brokerages in Ontario.
Frequently Asked Questions
What is the typical price of a house in Toronto?+
It depends on the home type. TRREB reported an average selling price of CAD 1,696,424 for detached homes, CAD 1,311,817 for semi-detached homes, CAD 1,031,800 for townhouses and CAD 688,055 for condo apartments in the City of Toronto in August 2024.
Is there an official source for Toronto house prices?+
Yes. The Toronto Regional Real Estate Board publishes monthly market statistics, including average selling prices by home type and area.
How much is land transfer tax in Toronto?+
Toronto buyers usually pay both Ontario land transfer tax and the City of Toronto municipal land transfer tax. The amount depends on the purchase price and can be substantial on million-dollar homes. First-time buyer rebates may reduce part of this cost if you qualify.
Do I need a 20% deposit to buy in Toronto?+
Not always. In Canada, homes under certain thresholds can be bought with a lower minimum down payment, but buyers putting down less than 20% generally need mortgage default insurance.
What other fees should I budget for besides the price of the home?+
Common extra costs include legal fees, title insurance, a home inspection, appraisal fees, moving costs, utility setup and closing adjustments such as prepaid property tax or condo fees.
Are Toronto home prices stable?+
No. They can move materially from month to month as borrowing costs, supply and demand change, so any published average should be treated as a current market snapshot.
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Check current prices at the official source
Toronto Regional Real Estate Board (TRREB)
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