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 experienced a decline once again.
The Toronto Regional Real Estate Board (TRREB) reported that 5,946 homes were sold in April, reflecting a seven percent increase from the same period in the previous year. Moreover, sales rose by 6.1 percent on a seasonally adjusted basis when compared to March.
The average selling price dropped by 4.9 percent from April 2025 to $1,051,969, while the composite benchmark price, representing the typical home, decreased by 6.6 percent year-over-year.
According to TRREB’s chief information officer, Jason Mercer, the decrease in home prices and borrowing costs in the past year have motivated some homebuyers this spring. Mercer also mentioned that there is still significant pent-up demand in the market and emphasized that more certainty in trade and a reduction in geopolitical tensions could further enhance market activity.
In April, there were 17,097 new listings in the market, marking a 9.3 percent decline from the previous year. Inventory also decreased by 6.4 percent, with a total of 25,110 active listings in the Greater Toronto Area.
While transaction volumes are on the rise and inventory levels are falling, prices have not yet stabilized. This situation presents a favorable opportunity for buyers to act, as noted by Jessica Hammell from Real Broker Ontario. Hammell pointed out that not all properties are selling quickly or above asking price, with well-positioned and well-priced properties still attracting competition and multiple offers, especially in certain areas.
The City of Toronto witnessed 2,312 home sales in April, representing a 9.2 percent increase from the same month in 2025. In the rest of the GTA, home sales were up by 5.7 percent, totaling 3,634 sales.
All housing types experienced increased activity in the region last month. Detached home sales saw a 9.2 percent year-over-year increase, while condo sales rose by 9.1 percent. Sales of townhouses and semi-detached homes also saw slight upticks of 0.6 percent and 0.4 percent, respectively.
The surge in condo sales last month might indicate a turnaround for this property segment. Condo sales in the Greater Toronto Area had been declining due to a significant disparity between available inventory and buyer demand following years of high completion rates.
With a considerable influx of new supply, property values have depreciated, creating new opportunities for first-time buyers, according to Hammell. She mentioned that many buyers are eager to take advantage of the improved market affordability conditions and are seizing the opportunity to enter the real estate market and begin their homeownership journey.
