The headline number in any monthly market report is usually sales or average price. Both are useful, but neither tells you who holds the advantage in a negotiation. For that, you need months of inventory.

Months of inventory measures how long it would take to sell every active listing at the current pace of sales. A lower number means fewer homes to choose from and more competition between buyers. A higher number means more choice and more leverage for buyers at the negotiating table.

Here is where the GTA stood at the end of August 2026, and what it means if you are buying or selling.

How to Read the Number

The conventional thresholds work like this. Below four months is generally considered a seller's market. Four to six months is balanced. Above six months favours buyers. These are rough guides, not hard rules. A neighbourhood at 5.5 months with strong demand from a specific buyer profile may feel tighter than the number suggests. But the thresholds give you a useful starting point.

The Regional Picture

The GTA as a whole sat at 4.6 months of inventory in August 2026. That is balanced territory, leaning slightly toward buyers. But the regional averages hide wide variation.

Durham Region was the tightest market in the GTA at 3.4 months. Within Durham, Ajax and Whitby were both at 2.9 months, which is comfortably in seller's market territory. If you are listing in Ajax or Whitby, the current conditions are working in your favour. If you are buying there, expect competition.

Halton Region came in at 4.2 months. Burlington, at 3.6, was the tightest municipality in Halton. Oakville, at 4.9 months, was the loosest.

Peel Region was at 4.9 months. Brampton and Mississauga were nearly identical at 4.8 each. Caledon, the most rural municipality in Peel, was at 6.7 months, which puts it in buyer's market territory.

The City of Toronto overall was at 4.6 months, matching the GTA average. But the three sub-areas tell different stories. Toronto East was at 3.6 months, the tightest part of the city. Toronto West sat at 4.3. Toronto Central, with its large condo inventory, was at 5.1.

York Region: The Widest Range in the GTA

York Region averaged 5.0 months, but the spread within the region was enormous.

Markham was at 4.1 months and Newmarket at 4.2. Both are balanced markets with enough activity to keep listings moving. Vaughan was at 4.9 months, right in the middle of balanced territory, with 242 sales against 1,198 active listings.

At the other end, King sat at 11.4 months of inventory. That is more than double the buyer's market threshold. King recorded just 21 sales in August against 225 active listings. The arithmetic is straightforward: 225 divided by 21 equals 10.7, and the trend-adjusted figure rounds to 11.4. For sellers in King, this is a market that requires patience, precise pricing, and realistic expectations about timelines.

Richmond Hill was at 5.6 months, slightly favouring buyers. Georgina, at 6.3, was firmly in buyer's territory.

Simcoe County: A Different Market Altogether

Simcoe County averaged 6.0 months of inventory. Innisfil was at 7.4 and Adjala-Tosorontio at 8.0. Bradford, closer to the GTA core, was tighter at 4.7. If you are considering a move north for more space, the inventory numbers suggest you will have time and options on your side.

What This Means for Your Decision

If you are selling in Durham, Toronto East or Burlington, conditions are favourable. Properly priced homes in those areas are moving, and buyers are competing for them.

If you are selling in King, Georgina, Caledon or Simcoe County, you are in a buyer's market. That does not mean your home will not sell. It means the price has to be right from day one, because buyers have enough alternatives to walk away from anything that feels high.

If you are buying, the months of inventory number tells you how much room you have to negotiate. In a 2.9 month market, the answer is: very little. In an 11.4 month market, the answer is: quite a lot.

All figures from TRREB Market Watch, August 2026.

If you want to understand what these numbers mean for your specific property or your specific search, call me at 416-560-4983.

Danny Macedo, Macedo Real Estate Group, Royal LePage Supreme Realty, Brokerage.