06/06/2026
📣HomeLife Landmark Real Estate (GTA) May Monthly Report📈
【Sales Up Year-on-Year, Supply Tightens Significantly, Price Decline Narrows】
According to the latest data from the Toronto Real Estate Board (TRREB), 6,583 homes were sold through TRREB’s MLS® system in May 2026, a 6.3% increase compared to May 2025. New listings through the MLS® system totaled 17,698, a significant year-on-year decrease of 18.9%. After seasonal adjustment, sales in May 2026 increased by 10% compared to April, while new listings decreased by 2.1% month-on-month, indicating that market conditions tightened further that month, and competition among buyers in some communities may have intensified. Regarding prices, the composite benchmark of the MLS® Home Price Index (HPI) decreased by 6.7% year-on-year. The average selling price was $1,069,700 CAD, a 4.6% decrease compared to May 2025. After seasonal adjustment, the average selling price increased slightly compared to April, while the composite MLS® HPI index decreased slightly month-on-month. TRREB President Daniel Stanfield pointed out that May sales were stronger year-over-year, while new listings declined significantly, reflecting a further tightening of overall market conditions in the Greater Toronto Area compared to last year during the spring. With improved affordability resulting from lower selling prices and borrowing costs, sales are expected to rebound further in the second half of the year. TRREB Chief Information Officer Jason Mercer added that while inventory levels have remained low over the past year, buyers maintained strong negotiating power in the spring, helping to maintain affordability. Looking ahead, if sales continue to outperform listings, home prices will gradually stabilize and begin to rise after 2027.
Market Performance in May 2026 (Compared to May of Last Year)📊:
🔸 Total Sales: 6,583 units ⬆6.3%
🔸 Average Selling Price: $1,069,700 ⬇4.6%
🔸 Average Days on the Market: 27 days ⬆8%
🔸 New Listings: 17,698 units ⬇18.9%
The year-on-year decline in new listings continues to narrow. Will the continued reduction in choice have a significant impact on the buyer’s market? Stay tuned🍁