The average selling price of a home in the GTA fell below the $1 million mark in January 2026, marking the first time prices have dipped below the seven-figure mark in five years, according to new figures from the Toronto Regional Real Estate Board's (TRREB) latest monthly Market Watch report.  Last month, home sales dropped sharply in the region, especially when compared to the same month in 2025, with just 3,082 sales reported. With sales still on the decline, it shouldn't come as a huge surprise that January's average selling prices were down. Last month's average price was $973,289, a substantial dip of 6.5 per cent year-over-year and, just as significant, the first drop below the $1 million mark in years.And it may not be a blip on the graphs, as throughout 2026, elevated supply levels are expected to keep prices in check, and home sales activity is expected to stay within the same range as the last three years, according to the board's ...