04/16/2026
March 2026 Market Update - Here’s the latest in the Greater Toronto Area real estate market 👇🏼
Winter’s still hanging on, but the GTA housing market started to heat up in March compared to last year. Sales are up, & lower prices are helping with affordability as we head into spring. Hoping for some positive trade & global news to boost confidence even more.
TRREB reported 5,039 home sales in March, a modest 1.7% increase compared to March 2025. However, active listings declined significantly, down 8% compared to this time last year.
Home prices continued to trend lower, with the average selling price down 6.7% to $1,017,796. Month-over-month, prices remained relatively stable, the average selling price saw a small increase compared to February 2026.
Buyers continued to benefit from substantial negotiating power on price across major market segments last month. However, if market conditions continue to tighten, as they have in March, selling prices could start levelling off as we move through the remainder of 2026.
As the GTA's new housing supply of all home types continues to decrease drastically to well below average delivery levels, the federal & provincial governments made a historical announcement regarding HST & development charge relief. Beginning April 1st & ending March 31st, 2027, the Ontario government, in partnership with the federal government, will offer a full HST rebate (up to $130,000) on new homes valued up to $1 million. Homes valued between $1 million & $1.5 million receive the flat maximum rebate of $130,000. Eligibility applies to all buyers, including investors & repeat buyers.
Many developers are heavily promoting their remaining new home inventory, as the HST rebate creates very attractive price points for buyers. Together, these measures are expected to re-energize buyer demand, support new construction activity, & play a critical role in addressing the GTA’s ongoing housing supply shortage.
In the coming weeks we'll get the stats for April and start to get a better picture of what the Spring Market looks like this year.
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