Average new single-family home price drops 15% in June as townhome, semi sales surge

The price of a new single-family home was $1.27 million in June, down 15 per cent over the same month in 2025, the Building Industry and Land Development Association (BILD) said in its Wednesday report. 

“This is attributable to the mix of new openings and releases throughout the month,” said Edward Jegg, research manager at Altus Group, BILD’s source for new home data.

Most of the single-family homes that entered the market were semi-detached and townhomes, which are typically at a “much lower price point” than detached homes, he said.

Condos were $1.03 million in June, remaining at a price bottom, the report said.

Prices for single-family homes and condos are gross prices, meaning they do not include the HST rebate that came into effect in April and exempts buyers from the 13 per cent HST on select new homes for one year. BILD said they didn’t include the rebate to be able to compare “like-on-like” comparisons to previous years.

There was a total of 1,175 new home sales in June, up 130 per cent from the record-low June in 2025 but still 52 per cent below the 10-year average of 2,456 units. 

There were 902 single-family home sales in the GTA last month, a significant year-over-year increase of more than 200 per cent, and 36 per cent above the 10-year average. Single-family homes include detached and semi-detached houses, and townhouses (excluding stacked townhouses).

“June 2026 new home sales in the GTA once again were propelled by the single-family sector, which benefitted from the HST-rebate program,” said Jegg.

Condos struggle despite HST rebate

On March 25, the federal and provincial governments announced they were injecting $2.2 billion into Ontario’s sputtering home construction industry with a one-year break on the HST for buyers of new houses and condos.

This means buyers are exempt from the 13 per cent harmonized sales tax on all new homes worth $1 million or less, with the equivalent in savings for new homes up to $1.5 million.

The waiver started on April 1, and expanded on an existing HST rebate introduced last fall that was only available to first-time buyers of new homes.

While there has been noticeable success for sales in the single-family home segment, sales for condos have struggled.

Condos, which include units in low-, medium- and highrise buildings and stacked townhouses, accounted for 273 units sold in the GTA in June — an increase from June 2025 of almost 26 per cent but 85 per cent below the 10-year average.

“The condominium sector has started to show some small gains but continued to be hampered by inventory that has shown less flexibility for pricing changes,” Jegg said. 

Discounts for bulk purchases not included in price stats

June’s condo sales numbers could include bulk sales, but the prices reflect asking or listing prices, not the discounts offered from the HST rebate or any discounts developers may have offered for buying multiple units at once. 

“Any discount a bulk purchaser may negotiate is not reflected in our pricing stats,” Jegg said. 

Investment firms have been bulk buying unsold condo units in the GTA, with some converting them to affordable housing or temporary rentals to then be sold when the market turns around. 

The inventory level for all housing types — the time it would take to sell inventory on the market based on current demand — is 36 months based on average sales for the last 12 months.

A healthy market level is around nine to 12 months.