Home sales in the Greater Toronto Area saw a consecutive year-over-year increase for the second month in April, with average selling prices experiencing a decline once again. The Toronto Regional Real Estate Board (TRREB) reported a total of 5,946 homes sold last month, marking a seven percent rise compared to the same period the previous year. Additionally, sales surged by 6.1 percent when adjusted for seasonal variations from March.
The average selling price dropped by 4.9 percent from April 2025, settling at $1,051,969. The composite benchmark price, representing the standard home, also decreased by 6.6 percent year-over-year. Jason Mercer, the chief information officer at TRREB, attributed the increase in homebuyers this spring to the lower home prices and reduced borrowing costs in the past year.
Despite the current market conditions, Mercer mentioned that there is still significant pent-up demand waiting to be met. He highlighted that more stability on the trade front and a decrease in geopolitical tensions could further enhance market activity. New listings in April totaled 17,097, reflecting a 9.3 percent decrease from the previous year, while the inventory shrank by 6.4 percent, with a total of 25,110 active listings in the GTA.
Jessica Hammell from Real Broker Ontario noted that although transactions are on the rise and inventory is dwindling, prices have not yet stabilized, giving buyers a favorable opportunity to enter the market. She emphasized that properties in prime locations and reasonably priced are still attracting competition, while those in less desirable areas provide buyers with more negotiation leverage.
In the City of Toronto, there were 2,312 home sales in April, marking a 9.2 percent increase from April 2025. Sales in the rest of the GTA also saw a rise of 5.7 percent, totaling 3,634 transactions. All housing types observed increased activity, with detached home sales leading the way with a 9.2 percent rise, followed by a 9.1 percent uptick in condo sales. Townhouse and semi-detached home sales also saw marginal increases of 0.6 percent and 0.4 percent, respectively.
The spike in condo sales during April could indicate a potential revival in that property segment. The condo market in the GTA had faced challenges due to a discrepancy between supply and demand in recent years. However, with the increasing sales, there might be a shift in this trend. Hammell pointed out that the decline in property values has created opportunities for first-time buyers to enter the market and climb the property ladder. She expressed that many buyers are now seizing this chance as market affordability conditions improve.
