Rad Team

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 for many buyers who had been waiting on the sidelines.

The declining supply of homes available for purchase is contributing to tighter market conditions.

The trend was even more apparent compared to April, with home sales increasing 10% month-over-month while new listings declined slightly. 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. However, on a month to month basis, average prices edged higher compared to April.

The condominium market across the Greater Toronto Area 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 condominium sales up by nearly 8% compared to the previous year. This increase in activity suggests that improving affordability and lower borrowing costs are beginning to attract buyers who had previously remained on the sidelines.
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.

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The Greater Toronto Area real estate market showed renewed momentum this past April. Home sales increased year-over-year while the supply of available listings trended lower, a shift that suggests market conditions are beginning to tighten.

The April Numbers at a Glance:
Sales Activity: There were 5,946 resale transactions, a 7% increase over April 2025.
Inventory: New listings dropped 9.3% year-over-year. With sales outpacing new supply, inventory now sits at 4.2 months, moving us into a more balanced market.
Pricing: The average selling price was $1,051,969. While this is 4.9% lower than last year, prices actually edged up 3% from March 2026 on a seasonally adjusted basis.

What This Means for You:
Despite the year-over-year price dip, the monthly uptick suggests that competition is returning to certain neighbourhoods. TRREB’s Chief Market Analyst, Jason Mercer, noted that lower borrowing costs and current price points have acted as a catalyst for buyers this spring. However, substantial pent-up demand remains. With further stability in the global economy and trade sector, buying activity is expected to accelerate.

The Condo Spotlight:
Condo sales saw a notable 9% jump compared to last year, even as prices remained roughly 6.3% lower. We are seeing significant interest from first-time buyers and investors, particularly in units under 600 square feet, who are looking to capitalize on current market conditions while interest rates remain steady.

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