06/06/2026
📊 GTA Real Estate Market Update – May 2026
The Greater Toronto Area housing market showed renewed momentum in May, with more homes changing hands and fewer properties coming to market compared to the same time last year.
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.
🏡 Key Highlights:
• 6,583 homes sold across the GTA, up 6.3% year-over-year
• Available listings decreased by 13.3%
• Home sales increased 10% compared to April
• New listings declined slightly month-over-month
• Average GTA home price: $1,069,700
• Average price down 4.6% year-over-year, but slightly higher than April
Improved affordability has been a key driver this spring. Lower home prices and reduced borrowing costs have made homeownership more attainable for many buyers who were waiting on the sidelines.
Looking ahead, if current trends continue and buyer demand strengthens through the second half of the year, prices could level off and begin to rise heading into 2027. Lower interest rates, greater economic certainty, and positive developments on trade and geopolitical issues may further support the market.
🏢 Condo Market Update:
The condominium market continues to face downward pressure on prices as new unit completions add to available supply. However, buyer confidence is improving, with condo sales increasing nearly 8% year-over-year. Better affordability and lower borrowing costs are encouraging more buyers to re-enter the market.
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.
Questions about the market or your home’s value? Feel free to reach out!
