06/05/2026
Hello Everyone,
Spring has finally arrived and with it, the 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. 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.
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%, with home sales increasing 10% month-over-month. This suggests that buyer demand is strengthening faster than new supply is entering the market. While home prices remain lower than they were 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.
The condo market across the GTA continued to face downward pressure on prices as new unit completions added to available supply. Despite this, buyer confidence showed signs of improvement, with many purchasers returning to the market and driving condo 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.
If you're interested in learning where you're positioned in this market, Call Me For Clarity. I look forward to connecting with you soon.
