Home sales in the Greater Toronto Area saw an increase in April for the second consecutive month compared to the same period last year. The Toronto Regional Real Estate Board (TRREB) reported that 5,946 homes were sold in the region, marking a seven percent rise from the previous year. Additionally, sales showed a 6.1 percent increase when seasonally adjusted 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 typical home, decreased by 6.6 percent year-over-year.
Jason Mercer, the chief information officer at TRREB, attributed the increased market activity to lower home prices and borrowing costs, which have motivated some homebuyers this spring. Mercer noted that despite the current circumstances, there is still a significant amount of pent-up demand in the housing market.
New listings in April totaled 17,097, a decrease of 9.3 percent from the previous year, while total active listings in the Greater Toronto Area dropped by 6.4 percent to 25,110. Despite the rise in transactions and the decline in inventory, prices have not yet stabilized, creating a favorable opportunity for buyers, according to Jessica Hammell from Real Broker Ontario.
Hammell highlighted that while some properties are experiencing competitive bidding and multiple offers, others, particularly those in less desirable areas, allow buyers more negotiation leverage. The constrained supply of listings coupled with increasing market activity could potentially exert 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 rest of the GTA, home sales rose by 5.7 percent to reach 3,634. All housing types witnessed increased activity, with detached home sales up by 9.2 percent and condo sales by 9.1 percent year-over-year. Townhouses and semi-detached homes also experienced slight increases in sales.
The surge in condo sales in April may indicate a positive shift in the condo market segment, which has faced challenges in recent years due to a supply-demand imbalance. With property values decreasing due to an influx of new supply, first-time buyers are finding improved affordability conditions, leading many to take advantage of the opportunity to enter the market and secure their spot on the property ladder.