Home sales in the Greater Toronto Area saw a rise in April for the second consecutive month compared to the previous year, while average selling prices continued to decrease. The Toronto Regional Real Estate Board (TRREB) reported a total of 5,946 homes sold last month, showing a seven percent increase from April of the previous year. On a seasonally adjusted basis, sales also went up by 6.1 percent from March.
The average selling price dropped by 4.9 percent compared to April 2025, settling at $1,051,969. Additionally, the composite benchmark price, reflecting the average home value, declined by 6.6 percent year-over-year.
TRREB’s chief information officer, Jason Mercer, noted that the combination of lower home prices and reduced borrowing costs in the past year had motivated some homebuyers this spring. Mercer highlighted the presence of significant pent-up demand in the market, expressing optimism that improved market conditions could be expected with more certainty in trade relations and reduced geopolitical tensions.
In April, there were 17,097 new listings in the market, a decrease of 9.3 percent compared to the previous year. Inventory also saw a 6.4 percent decline, with a total of 25,110 active listings in the Greater Toronto Area.
Despite the increasing number of transactions and decreasing inventory levels, prices have not yet stabilized, creating a favorable opportunity for buyers to enter the market, as mentioned by Jessica Hammell from Real Broker Ontario. Hammell emphasized that not all properties are selling quickly or above asking price, with well-positioned and appropriately priced homes still seeing competition, while less desirable properties offer buyers more negotiation leverage.
In the City of Toronto, there were 2,312 sales in April, marking 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 reach 3,634.
All housing types experienced increased activity in the region, with detached home sales up by 9.2 percent, condo sales rising by 9.1 percent, and townhouses and semi-detached homes seeing marginal increases of 0.6 percent and 0.4 percent, respectively.
The surge in condo sales during April could indicate a potential turnaround for this property segment. Condo sales in the GTA had previously declined due to a significant imbalance between supply and demand, following years of high completion rates.
With a substantial influx of new supply, property values have decreased, presenting new opportunities for first-time buyers, as highlighted by Hammell. She mentioned that many buyers are eager to capitalize on the improving market affordability conditions, viewing this as their chance to enter the market and begin their homeownership journey.
