Home sales in the Greater Toronto Area experienced a second consecutive year-over-year increase in April, while average selling prices continued to decrease. The Toronto Regional Real Estate Board (TRREB) reported that 5,946 homes were sold last month, marking a seven percent rise from the same period in the previous year. Sales also 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, and the composite benchmark price, representing a typical home, 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 driven some homebuyers to act this spring. Despite this, Mercer highlighted that there remains significant pent-up demand in the market and emphasized the potential for further market activity improvements with more certainty in trade and reduced geopolitical tensions.
April witnessed 17,097 new listings in the market, a 9.3 percent decrease from the previous year. Inventory also declined by 6.4 percent, with a total of 25,110 active listings in the GTA. While transactions are on the rise and inventory is dwindling, prices have not yet stabilized, providing buyers with an advantageous opportunity to make their moves, according to Jessica Hammell of Real Broker Ontario. Hammell mentioned that not all properties are selling rapidly or above asking price at this point.
The City of Toronto saw 2,312 sales in April, a 9.2 percent increase from the same period in 2025. Home sales in other parts of the GTA rose by 5.7 percent to 3,634. All housing types experienced increased activity last month, with detached home sales rising by 9.2 percent and condo sales by 9.1 percent year-over-year. Townhouses and semi-detached homes witnessed slight increases of 0.6 percent and 0.4 percent, respectively.
The surge in condo sales during April may indicate a potential turnaround for this property segment, which has faced significant challenges in recent years due to a supply-demand imbalance. Hammell pointed out that the decreased property values due to the surplus supply have created new opportunities for first-time buyers who are now more inclined to enter the market and take advantage of improved affordability conditions.
Overall, the real estate market in the Greater Toronto Area is showing signs of recovery and increased buyer activity, with experts optimistic about the potential for further improvements in market conditions.
