 🍁 Canada Day Edition |
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Happy Canada Day 🍁
From all of us at SYNERGY — we hope you and your family got to enjoy the long weekend together. We’re proud to call Canada home, and just as proud to help families across the GTA and Durham find theirs.
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🍁 Monthly Market Update
June 2026
The numbers below come straight from MLS — extracted by our team, broken down further than the board reports, and read in plain English. Here’s what the market did, and what it means for your next move.
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Stats Corner
June Snapshot
Extracted daily from MLS by SYNERGY · GTA-wide, all residential
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6,511
homes sold
▲ 3.8% MoM |
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$1.07M
avg. sale price
▼ 1.3% MoM |
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21.7%
sold over asking
▼ 1.2 pts MoM |
| Metric | June |
May | Change |
| Average Price | $1,065,780 | $1,079,568 | −1.3% |
| Median Price | $897,125 | $920,000 | −2.5% |
| Sales Volume | 6,511 | 6,274 | +3.8% |
| Sold Over Asking | 21.7% | 22.9% | −1.2 pts |
Source: extracted from MLS by SYNERGY · transaction-level, January–June 2026.
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Average Freehold Price by Region · Jan–June
5 regions vs. GTA overall · detached, semi & town · SYNERGY MLS extract
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Average Condo Price by Region · Jan–June
5 regions vs. GTA overall · apt & town · SYNERGY MLS extract
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SYNERGY’s Read
In June a GTA freehold averaged about $1.28M against roughly $658K for a condo — nearly double the price for ground-oriented space. But competition is the sharper divide: 26% of freeholds sold over asking versus 14% of condos. If you want space, you’re still bidding against people; if you’ll go vertical, you have room to negotiate. (The two charts use independent scales — condos simply trade lower, so a shared axis would flatten their story.)
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The Story in the Data
The spring surge levels off
Each bar below is the number of homes that sold that month — a read on how active the market is.
Sales rose for a sixth straight month — but the climb has nearly stopped. June added just 3.8% over May after double-digit gains through the spring, and for the first time since winter both the average (−1.3%) and median (−2.5%) price edged down. The market isn’t cooling so much as catching its breath at a higher plateau.
Competition: the share selling over asking
How often homes sold above their list price each month — a read on how competitive buyers have been.
| What “sold over asking” means: a home sold above its list price — not necessarily above market value, since homes are often listed below market on purpose to spark competing offers. Read it as a gauge of buyer competition, not price growth. For where values actually sit, the average-price charts above are the better guide. |
After climbing all spring, the share over asking dipped to about 22% in June — its first step down since winter. Competition is holding near its plateau, not building. The direction has shifted from “accelerating” to “steady.”
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So what does this mean for you?
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As a Seller
Well-priced freehold homes still draw competition — 26% sold over asking, semis lead at 36% and even townhouses ran 29%. But with prices ticking down month-over-month, pricing on hope no longer works. Launch at the right number with a sharp first week; the market rewards realism now, not optimism.
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As a Buyer
Softening prices and easing competition mean more negotiating room — especially in condos, where just 14% sold over asking. Freehold buyers should still budget to compete in Toronto (35% over asking) and Durham (26%). Get pre-approved so you can move on the right listing without overpaying.
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Neighbourhood spotlight: Halton — the GTA’s quietest market
Halton had the lowest competition in the GTA in June — just ~15% of homes sold over asking, versus about 24% in Toronto and Durham. Oakville and Halton Hills were quietest of all, under 14%. And here’s the telling part: Halton’s average price slipped (−1.9%) even as its median ticked up (+1.4%). That gap is the story — the softness is at the top end, where fewer luxury homes traded, while the typical home held firm.
| Municipality | Sold | Median Price | MoM | Over Asking |
| Oakville | 295 | $1,360,000 | −2.0% | 13.6% |
| Burlington | 281 | $999,999 | +4.2% | 19.2% |
| Milton | 147 | $940,000 | +6.2% | 12.9% |
| Halton Hills | 61 | $935,000 | +0.8% | 9.8% |
Median (the typical sale) shown here rather than average, which small municipal samples can swing on a few luxury trades.
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SYNERGY's Take
For buyers: Halton is a premium market, but the competition here is thin — just ~14% of Oakville homes sold over asking in June, versus ~24% in Toronto and Durham, and the median even edged down. If your budget is already in this range, that’s real leverage: take your time, negotiate, and buy the right home without a bidding war.
For sellers: fewer buyers are at the table than elsewhere, so an ambitious price just sits. Price to a recent, realistic comparable and your home still moves — reach for spring’s number and it lingers.
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Latest News
What we’re watching
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The 8% provincial HST just disappeared on new homes
What Happened
Ontario’s Enhanced New Housing Rebate (ENHR) returns the full 8% provincial portion of HST on a qualifying new home, for a purchase agreement signed with a builder on or after April 1, 2026 and on or before March 31, 2027. Builders can credit it at closing once forms are ready (mid-July 2026), so you don’t finance the tax and wait.
| New-home value | Provincial (8%) rebate |
| Up to $1,000,000 | 100% of the 8% (max $80,000) |
| $1,000,000 – $1,500,000 | Flat $80,000 |
| $1,500,000 – $1,850,000 | Partial — phases $80,000 → $24,000 |
| $1,850,000 + | $24,000 (existing ON rebate) |
Not Just For First-Time Buyers
Unlike the first-time-buyer rebates, this enhanced rebate is open to everyone — move-up buyers, downsizers, even investors buying new-build to rent. It’s a temporary lever to boost demand broadly, which is why it only covers agreements dated Apr 1, 2026 – Mar 31, 2027. The result: nearly everyone eligible can recover close to the full 13% HST — first-time buyers get the 5% federal part through the federal FTHB GST rebate, and everyone else recovers that 5% through the Ontario top-up built into the ENHR.
Our Take
For anyone weighing new construction or pre-construction, this is one of the biggest affordability levers in years — up to $80K back on the provincial side alone. Selling resale? New-build incentives just got sharper, so price with that competition in mind.
General information only — not tax advice. Every situation is different, so please get professional guidance before acting. Figures verified against CRA / Ontario (June 2026).
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Buying pre-construction? Our team makes sure you qualify for every available rebate — and that the right forms get filed.
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Toronto raised its luxury land-transfer tax — and it’s the only city that can
What Happened
As of April 1, 2026, Toronto raised its municipal land transfer tax on homes selling for more than $3 million — the luxury tier only, and it’s the only city in Ontario that can do this.
Background
Every Ontario purchase carries a provincial land transfer tax, paid by the buyer. In Toronto you effectively pay it twice — the city adds its own on top, the only municipality in Ontario allowed to (City of Toronto Act, 2006). It can lean on that because it runs one of the lowest property-tax rates in the GTA — taking revenue at the point of sale instead of on annual bills.
Residential property tax rates across the GTA
Brackets through $3M are unchanged — nothing changes for most buyers. Only the luxury tiers above $3M moved (marginal — you’re taxed only on the portion in each band):
| Portion of price | Before | After (Apr 1) |
| $3M – $4M | 3.5% | 4.40% |
| $4M – $5M | 4.5% | 5.45% |
| $5M – $10M | 5.5% | 6.50% |
| $10M – $20M | 6.5% | 7.55% |
| Over $20M | 7.5% | 8.60% |
| Real numbers — a $5,000,000 home (municipal LTT only): about $141,475 → $159,975, roughly $18,500 more, purely from the new tiers. |
Our Take
The 905 gap is real. Oakville, Vaughan and Mississauga charge no municipal LTT, so on a luxury deal the Toronto premium can run into six figures — a comparable home just outside the city can save materially at closing. Luxury sellers just above $3M should expect sharper negotiation.
Buying anywhere in Toronto? Think in years, not just closing day. That higher upfront land transfer tax is the trade-off for Toronto’s low annual property taxes — the longer you stay, the more those yearly savings versus a comparable 905 home add up, eventually offsetting the extra LTT. Purely on the math, your time horizon is the deciding factor — and if you expect Toronto to appreciate faster than the alternatives, that tilts it back toward the city too.
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Links go to third-party articles; we can’t guarantee their accuracy — always confirm the specifics for your own situation.
Have a question about how any of this affects your move? Just reply to this email — you’ll get our honest take.
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Rate Watch
 Best 5-Year Fixed 4.04% as of Jun 2026 |
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Best 5-Year Variable 3.45% as of Jun 2026 |
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BoC Overnight Rate 2.25% No change Jun 10 · next Jul 15 |
The Bank of Canada held its overnight rate at 2.25% on June 10 — a fifth straight hold — balancing a weak economy against energy-price inflation, with the next decision July 15. The lowest rate isn’t always the best strategy; it depends on your timeline and risk tolerance. Read the Bank’s statement →
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How rates connect
Variable rates follow the Bank of Canada. When the Bank moves its rate, the banks’ prime rate moves with it — and variable mortgages and credit lines are priced off prime.
Fixed rates follow the bond market. They track Government of Canada bond yields, which move on their own — so a fixed rate can change even when the Bank holds steady.
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Terrence’s Tax Tip
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With the new HST rebate making new builds more attractive, first-time buyers still saving up should stack two accounts. The FHSA lets you put away up to $8,000 a year (to a $40,000 lifetime max) — deductible going in, tax-free coming out for a home. Layer the RRSP Home Buyers’ Plan on top (up to $60,000) and you’ve built a sizable, tax-efficient down payment. The trick is sequencing and timing — open the FHSA early to start the clock, and get the withdrawal order right.
General information only — not tax advice. Every situation is different, so please get professional guidance before acting.
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Synergy Sweepstakes
Win two tickets to the Blue Jays
Enter our free draw for a pair of seats — on us. No purchase necessary, one entry per household.
Blue Jays vs. Tampa Bay Rays Wed, July 22, 2026 · 7:07 PM · Rogers Centre |
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This month’s featured listings
For Sale
4060 Lawrence Ave E #402
West Hill, Toronto
$319,990 · 2 bed · 1 bath · 2-storey · 1,000+ sq ft
Rare turnkey value under $320K — a bright, two-storey layout in a quiet, well-kept West Hill complex near transit and the lake.
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For Lease
52 Victoria Ave N (Main)
Peterborough
$2,490/mo · 3+1 bed · 1.5 bath · 2-storey · 1,750 sq ft
Original woodwork, stained glass and hardwood floors give this spacious 3+1 main unit real character — 1,750 sq ft over two storeys.
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View all active SYNERGY listings →
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SYNERGY Seller Advantage
We finance your pre-sale renovations
Need to sell but your home needs work? We help fund strategic pre-sale renovations — up to $25,000, $0 upfront, repaid at closing — so it shows better and sells for more. Backed by 135+ 5-star reviews.
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Wed, July 29 · 7 PM · Online
Buying your first home might be the smartest move you make this year — or the wrong one, and most seminars won’t tell you that. You’ll get the real numbers — the true cost of renting vs. owning, down payments, first-time-buyer programs, and what today’s market means for your timing — straight from three people who work in this market every day, including a CPA. You’ll leave knowing your next step. Free to attend.
Can’t join live? Register anyway and we’ll send you the recording.
Your Speakers
 Ian Serota Broker |
 Andres Ramirez REALTOR® |
 Terrence Marshall REALTOR®, CPA |
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Additional resources
 SYNERGY Sweepstakes
Win two Blue Jays tickets — enter this month’s free draw.
Enter the Draw → |
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 SYNERGY Savings
10–20% off Little Canada, the Toronto Zoo & Ripley’s Aquarium.
Get the Codes → |
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 SOL Properties
Relocation, investment & snowbird living beyond the GTA.
Visit SOL → |
Sweepstakes is a random draw, open to Ontario residents of the age of majority, and is not contingent on any transaction.
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Thinking about your next move?
Whether you’re buying your first home, selling a family property, growing an investment portfolio, or acquiring commercial real estate, our team brings the experience to help you decide with confidence.
Why SYNERGY
| ✓ 50+ years combined experience | ✓ $500M+ in real estate sold | | ✓ Residential, commercial, investment & pre-construction | ✓ Market intelligence from daily MLS analysis | | ✓ In-house tax, investment & financial-planning insight | ✓ Trusted across the GTA & Durham Region |
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SYNERGY Real Estate Group · 416-809-SOLD (7653) · admin@synergysold.ca · REAL Broker Ontario Ltd.
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This newsletter is provided for general information only and is not tax, legal, financial, or real estate advice; every situation is different, so please consult the appropriate professional before acting. Market figures are drawn from TRREB/MLS data believed reliable but are not guaranteed. Not intended to solicit buyers or sellers currently under contract with a brokerage.
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