06/04/2026
GTA Market Snapshot – May 2026
The GTA housing market continued to tighten in May, with sales increasing and new listings decreasing compared to the same time last year.
Key Stats:
•6,583 homes sold in May, up 6.3% year-over-year.
•17,698 new listings hit the market, down 18.9% from May 2025.
•The average selling price was $1,069,700, down 4.6% year-over-year.
•The MLS Home Price Index declined 6.7% compared to last year.
Compared to April 2026:
Sales increased 10%
New listings decreased 2.1%
What This Means
Inventory continues to be absorbed, resulting in less available housing supply. While buyers still maintained negotiating power through the spring, market conditions are becoming more balanced as sales outpace new listings.
Lower home prices and reduced borrowing costs have improved affordability, helping drive stronger sales activity. If this trend continues, experts expect home prices to stabilize and potentially begin increasing as we move toward 2027.
Bottom Line
The market is showing signs of recovery:
✅ More buyers are returning to the market
✅ Fewer new listings are coming available
✅ Inventory is shrinking
✅ Price declines are slowing
If sales continue to strengthen through the second half of 2026, we could see a more competitive market and firmer pricing moving forward.
