Home sales in the Greater Toronto Area demonstrated growth for the second consecutive month in April compared to the previous year, accompanied by a decrease in average selling prices. The Toronto Regional Real Estate Board (TRREB) reported that 5,946 homes were sold last month, reflecting a seven percent increase from April of the previous year. Additionally, sales rose by 6.1 percent when adjusted for seasonal variations compared to March.
The average selling price declined by 4.9 percent from April 2025, reaching $1,051,969. The composite benchmark price, which represents the typical home, experienced a 6.6 percent decrease year-over-year.
According to Jason Mercer, the chief information officer at TRREB, the combination of lower home prices and borrowing costs in the past year has motivated some homebuyers during the spring season. Mercer highlighted the presence of significant pent-up demand in the market and suggested that improved market activity could be achieved with more certainty on trade issues and a reduction in geopolitical tensions.
In April, there were 17,097 new listings on the market, a 9.3 percent decrease compared to the previous year. Total active listings in the Greater Toronto Area decreased by 6.4 percent to 25,110.
Despite an upward trend in transactions and a decline in inventory, prices have not yet stabilized, providing buyers with a favorable opportunity to act, as noted by Jessica Hammell from Real Broker Ontario. Hammell pointed out that while some properties are experiencing competition and even multiple offers in certain areas, others are not selling quickly or above the asking price, giving buyers more negotiating power.
In the City of Toronto, there were 2,312 sales in April, representing a 9.2 percent increase from the same period in 2025. Across the rest of the Greater Toronto Area, home sales rose by 5.7 percent to 3,634. All housing types observed increased activity, with detached home sales up by 9.2 percent and condo sales by 9.1 percent year-over-year. Townhouses and semi-detached homes also saw slight increases in sales.
The surge in condo sales during April may indicate a potential turnaround for this property segment, which has faced challenges in recent years due to an imbalance between supply and demand. With the influx of new supply, property values have declined, creating opportunities for first-time buyers to enter the market and climb the property ladder, according to Hammell.
Overall, the market conditions are evolving, presenting buyers with a window of opportunity to leverage the current situation and make informed decisions regarding their real estate investments.