06/04/2026
The GTA housing market showed renewed momentum in May, with more homes changing hands and fewer properties coming to market compared to May 2025.🏠
This shift is gradually bringing the market back into balance after an extended period of elevated inventory. As buyers absorb available homes, competition has started to increase in some communities, which could help stabilize prices and set the stage for future growth. Improved affordability has been a key factor driving activity this spring. Lower home prices compared to last year, combined with reduced borrowing costs, have made homeownership more attainable for many buyers who had been on the sidelines.
In May, 6,583 homes were sold across the GTA, up 6.3% from a year ago. At the same time, available listings fell by 13.3%, this declining supply contributing to tighter market conditions.
The trend was even more apparent compared to April 2026, with home sales increasing 10% month-over-month while new listings declined slightly. This suggests that buyer demand is strengthening faster than new supply is entering the market.
While home prices remain lower than a year ago, signs of stabilization are emerging. The average GTA home sold for $1,069,700 in May, down 4.6% year-over-year. However, average prices edged higher compared to April 2026.
The condominium market across the GTA continued to face downward pressure on prices as new unit completions added to supply. Despite this, buyer confidence showed signs of improvement, with many purchasers returning to the market and driving condominium sales up by nearly 8% compared to the previous year.
For buyers, today's market still offers choice and negotiating power. For sellers, improving demand and declining inventory levels may create more favourable conditions as the year progresses.
Contact us today to discuss this further, or to discuss your real estate needs. 📱
