Greater Toronto Area Sees Rise in Home Sales, Decline in Prices: TRREB
In March, the Greater Toronto Area (GTA) experienced a notable increase in home sales despite a continuing decline in average prices. According to the Toronto Regional Real Estate Board (TRREB), 5,039 homes were sold, representing a 1.7% rise compared to the same month last year. This marks the first year-over-year increase in sales since September.
Sales Trends in the GTA Housing Market
The increase in home sales in March can also be viewed through the lens of monthly adjustments. Home sales rose by 1.4% when adjusting for seasonality from February to March. TRREB president, Daniel Steinfeld, expressed optimism about these developments, noting that enhanced affordability could drive more households to enter the market.
Steinfeld mentioned the potential for positive influences on consumer confidence, pointing to trade and geopolitical factors as contributors to an uptick in sales moving forward.
Average Prices and Market Conditions
Despite the sales gain, the average selling price of homes in March dropped by 6.7%, reaching $1,017,796. The composite benchmark price also saw a decline of 7.4% year-over-year. Jason Mercer, TRREB’s chief information officer, explained that buyers maintained substantial negotiating power, which has influenced the falling prices in major market segments.
If market conditions continue to tighten as observed in March, there is potential for selling prices to stabilize throughout the remainder of 2026.
Listing and Inventory Dynamics
- Total new listings in March: 14,442 (down 16.7% from last year)
- Active listings across the GTA: 21,596 (decreased by 8%)
- Sales in the City of Toronto: 1,913 (a slight decrease of 0.9% year-over-year)
- Sales in the rest of the GTA: 3,126 (up 2.1%)
Segment-Specific Sales Performance
Several housing segments exhibited varying sales performance compared to last year:
- Detached homes: Up 5.2%
- Condos: Increased by 1.7%
- Semi-detached homes: Down 6.9%
- Townhouses: Saw a decline of 1.7%
This report was initially published on April 7, 2026, by The Canadian Press and reflects the current trends in the GTA housing market.
