06/03/2026
📈 GTA HOUSING MARKET UPDATE – MAY 2026 🏡
The GTA real estate market continued to gain momentum in May, showing signs that the balance is beginning to shift.
✅ Home sales increased 6.3% compared to May of last year.
✅ New listings dropped 18.9%.
✅ Inventory levels continued to shrink.
✅ Average home prices stabilized and even ticked slightly higher compared to April.
What does this mean?
More buyers are returning to the market while fewer new homes are being listed for sale. As available inventory gets absorbed, competition is increasing in many neighbourhoods, creating a tighter market than we've seen over the past year.
While buyers still had negotiating power this spring, that window may begin to narrow if sales continue to outpace new listings.
📊 May 2026 by the numbers:
• 6,583 homes sold (+6.3% year-over-year)
• 17,698 new listings (-18.9% year-over-year)
• Average GTA home price: $1,069,700
• Prices remain below last year's levels, helping affordability
The big takeaway?
The market appears to be moving off the bottom. Lower borrowing costs and improved affordability are bringing buyers back, and if current trends continue, we could see home prices level out and begin trending upward as we move into 2027.
Thinking of buying, selling, or just curious about what these changes mean for your home's value? Reach out anytime—we're happy to help.