05/14/2026
April brought a noticeable shift in the GTA market.
Sales picked up, new listings slowed down, and conditions are starting to tighten just a bit.
Sales activity came in at 5,946 transactions, up 7% year-over-year, while new listings dropped 9.3%. With sales beginning to outpace supply, inventory is now sitting at about 4.2 months, bringing us closer to a more balanced market.
The average selling price landed at $1,051,969. While still 4.9% lower than last year, prices actually increased 3% from March on a seasonally adjusted basis.
That monthly bump matters. Weโre starting to see competition return in certain pockets, especially in the city and for homes that are priced well and move-in ready.
Condos also had a bit of a moment this month. Sales jumped 9% year-over-year, with growing interest from first-time buyers and investors, particularly for units under 600 square feet. While prices are still down annually, the increase in sales activity is a positive sign.
With the new construction decline persisting, the future inventory tightening for the condo market is inevitable.
