Why Off-Market Listings Are on the Rise in Toronto and Etobicoke in 2026

Why are more homes in Toronto and Etobicoke trading hands in 2026 without ever appearing on MLS?

Because a softer, more uncertain market has changed seller psychology — and off-market listings now give sellers privacy, control, and a way to test demand without the risk of looking "stale" in public. The trend is real, growing, and heavily concentrated at the top of the market.

A Softer Market Changed How Sellers List

The 2026 GTA market favours buyers more than it has in years. Average selling prices are down roughly 5% year-over-year, days on market have crept up, and homes are generally selling slightly below asking. In that environment, a publicly listed home that lingers tells a story sellers would rather not tell.

An off-market listing solves that problem. It lets a seller gauge interest quietly — without staging, a parade of showings, or a permanent public record of a price cut. If the right buyer appears, the deal closes discreetly. If not, there's no growing days-on-market count and no perception that the property "didn't sell."

Whisper Listings and Pocket Listings, Explained

Two terms come up constantly in this space:

• Whisper listings: properties quietly shopped to a select pool of qualified buyers before any public exposure — often as a soft test of the market.
• Pocket listings: properties kept entirely off MLS, marketed only through a broker's own network and relationships.

Both trade on the same principle: discretion and a curated buyer pool instead of mass exposure.

Why the Trend Is Concentrated in Luxury

Off-market activity is most common at the high end. Industry estimates suggest as many as 40% of $5M+ detached sales in the GTA now happen off-market. Three forces are driving that:

• Privacy and security: Ultra-high-net-worth sellers often don't want their home, their timing, or their financial moves made public.
• A price-soft, uncertain market: Sellers prefer to test demand quietly rather than commit to a public campaign that could stall.
• Falling inventory: With fewer listings available, serious buyers increasingly turn to broker networks for early access — which makes private channels more effective.

What the Rules Actually Allow

Off-market selling isn't a loophole. Under CREA's Realtor Cooperation Policy — which TRREB members follow — an agent cannot publicly advertise an exclusive listing. Yard signs, social posts, and email blasts all trigger a requirement to place the property on MLS within three days.

What remains permitted is the engine behind the trend: an agent can share an exclusive listing within their own brokerage or team, or one-on-one with another agent, without triggering that clock. That's why these properties genuinely move through private agent networks — legally and effectively — before anything goes public.

What This Means for Buyers and Sellers

For sellers, an exclusive listing is a strategic tool, not a default. It protects privacy and preserves leverage, but it also limits exposure — and in most cases broad exposure is still what maximizes price. The right call depends on the property, the goal, and the timeline.

For buyers, the lesson is simpler: a real share of available inventory never reaches the public portals. Working with an agent who is plugged into local brokerage networks is increasingly the only way to see those opportunities first.

The Takeaway

The rise in off-market home sales across Toronto and Etobicoke in 2026 isn't a fad; it's a rational response to a slower market, heightened privacy expectations, and rules that still leave room for discreet, network-driven deals. Whether you're buying or selling, the key is knowing when going quiet works in your favour and when full exposure wins. That's where local expertise pays off.

Ready to Talk Strategy?

If you're weighing whether an off-market or public listing is the smarter move for your property — or you want access to homes before they hit MLS — let's talk. Book a call and we'll map out the right approach for your goals.

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Dave Dubbin, Dave Dubbin & Associates

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