Home sales in the Greater Toronto Area experienced a notable increase in April compared to the same period last year, marking the second consecutive month of growth. The Toronto Regional Real Estate Board (TRREB) reported a total of 5,946 homes sold last month, showing a seven percent rise from April last year. Additionally, sales saw a 6.1 percent boost when seasonally adjusted from March.
Meanwhile, the average selling price dipped by 4.9 percent from April 2025, settling at $1,051,969. The composite benchmark price, reflecting the standard home, also decreased by 6.6 percent year-over-year. TRREB’s Chief Information Officer, Jason Mercer, noted that lower home prices and borrowing costs in the past year have encouraged some homebuyers this spring.
Mercer highlighted that despite the current market conditions, there is still a considerable amount of pent-up demand. He expressed optimism that more certainty in trade relations and reduced geopolitical tensions could lead to further enhancements in market activity. The market observed 17,097 new listings in April, marking a 9.3 percent decrease from the previous year.
Inventory levels also saw a decline of 6.4 percent, with a total of 25,110 active listings in the Greater Toronto Area. Jessica Hammell from Real Broker Ontario mentioned that while transactions are on the rise and inventory is decreasing, prices have not yet stabilized, providing buyers with a favorable window to make purchases.
Hammell noted that not all properties are selling swiftly or above the asking price. She emphasized that well-positioned and well-priced properties are still attracting competition and multiple offers in certain regions, whereas properties in less desirable areas give buyers more negotiation power. The ongoing constrained supply of listings coupled with increasing market activity could exert upward pressure on prices.
In the City of Toronto, there were 2,312 home sales in April, a 9.2 percent increase from the same period in 2025. Across the Greater Toronto Area, home sales rose by 5.7 percent to reach 3,634. The surge in sales was observed across all housing types, with detached homes and condos experiencing significant increases of 9.2 percent and 9.1 percent, respectively.
Furthermore, townhouses and semi-detached homes saw marginal upticks of 0.6 percent and 0.4 percent, respectively. The rise in condo sales last month suggests a potential turnaround for this property segment, which had witnessed a decline in recent years due to imbalances between supply and demand.
Hammell highlighted that the increased supply has led to decreased property values, presenting new opportunities for first-time buyers to enter the market. She emphasized that many buyers are now taking advantage of improved affordability conditions to step onto the property ladder, seizing the opportunity presented by the current market dynamics.
