Home sales in the Greater Toronto Area experienced a second consecutive year-over-year increase in April, with average selling prices declining once again. The Toronto Regional Real Estate Board (TRREB) reported that 5,946 homes were sold in the previous month, marking a seven percent rise from the same period last year. Additionally, sales saw a 6.1 percent increase on a seasonally adjusted basis compared to March.
The average selling price dropped by 4.9 percent from April 2025 to $1,051,969, while the composite benchmark price, reflecting the typical home, decreased by 6.6 percent year-over-year. According to TRREB’s chief information officer, Jason Mercer, reduced home prices and borrowing costs in the past year have motivated some homebuyers this spring. Mercer noted that despite the positive trends, there is still significant pent-up demand in the market.
A total of 17,097 new listings entered the market in April, representing a 9.3 percent decrease from the previous year. Inventory also decreased by 6.4 percent, with 25,110 active listings in the Greater Toronto Area. Despite increasing transactions and declining inventory, prices have not yet stabilized, providing buyers with favorable conditions to make their moves, as mentioned by Jessica Hammell from Real Broker Ontario.
Hammell highlighted that while some properties in well-positioned areas are experiencing competition and multiple offers, others in less desirable locations offer buyers more negotiating power. The constrained supply of listings coupled with rising market activity could exert pressure on prices in the future.
In the City of Toronto, there were 2,312 sales in April, a 9.2 percent increase compared to April 2025. Across the rest of the GTA, home sales rose by 5.7 percent to reach 3,634. All housing types witnessed increased activity last month, with detached home sales up by 9.2 percent and condo sales up by 9.1 percent year-over-year. Sales of townhouses and semi-detached homes also saw slight upticks.
The upsurge in condo sales in April may indicate a positive shift in that property segment, following years of decline due to a mismatch between supply and demand. With property values decreasing due to the influx of new supply, first-time buyers are finding improved affordability conditions, seizing the opportunity to enter the market and invest in homeownership.