Home sales in the Greater Toronto Area experienced a second consecutive year-over-year increase in April, while average selling prices declined once again. 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 last year. Additionally, sales showed a 6.1 percent increase when adjusted for seasonal variations compared to March.
The average selling price dropped by 4.9 percent from April 2025 to $1,051,969. The composite benchmark price, representing the typical home, also decreased by 6.6 percent year-over-year. TRREB’s Chief Information Officer, Jason Mercer, attributed the increased market activity to lower home prices and borrowing costs in the past year, noting that this has motivated homebuyers.
Despite the positive trend in transactions and a decrease in inventory by 6.4 percent to a total of 25,110 active listings in the GTA, prices have not yet stabilized. Jessica Hammell from Real Broker Ontario highlighted that buyers currently have a favorable window of opportunity, as not all properties are selling swiftly or above asking price. Well-positioned and competitively priced homes are still drawing competition, while properties in less desirable locations are offering buyers more negotiating power.
In the City of Toronto, there were 2,312 sales in April, representing a 9.2 percent increase from the same month in 2025. Meanwhile, home sales in the rest of the GTA rose by 5.7 percent to 3,634. All housing types saw increased activity, with detached home sales leading the way with a 9.2 percent year-over-year growth, followed by a 9.1 percent increase in condo sales. Townhouse and semi-detached home sales also experienced slight upticks of 0.6 percent and 0.4 percent, respectively.
The surge in condo sales could indicate a potential turnaround for this property segment, which has faced challenges due to a supply-demand imbalance in recent years. With a considerable influx of new supply, property values have decreased, presenting new opportunities for first-time buyers to enter the market. Hammell emphasized that many buyers are recognizing the improved affordability conditions and are eager to seize the opportunity to step onto the property ladder.