Greater Toronto Area home sales up 7% in April as prices shrink: real estate board

RCI

Average selling price of homes was about 5% less than the same month last year.

Home sales in the Greater Toronto Area rose on a year-over-year basis for the second straight month in April, while average selling prices moved lower again.

The Toronto Regional Real Estate Board (TRREB) said 5,946 homes were sold last month, up seven per cent from the same month last year. Sales also increased 6.1 per cent on a seasonally adjusted basis from March.

The average selling price was down 4.9 per cent from April 2025 to $1,051,969. The composite benchmark price, meant to represent the typical home, was down 6.6 per cent year-over-year.

TRREB chief information officer Jason Mercer said lower home prices and borrowing costs over the past year have been a catalyst for some homebuyers this spring.

However, we still have a substantial amount of pent-up demand in the marketplace, Mercer said in a news release.

More certainty on the trade front and an easing in geopolitical tensions would result in further improvements in market activity.

There were 17,097 new listings on the market in April, down 9.3 per cent from last year.

Inventory decreased 6.4 per cent as there were 25,110 total active listings in the GTA.

While transactions are trending up and inventory has declined, prices haven’t yet stabilized, giving buyers a favourable window to make their move, said Jessica Hammell of Real Broker Ontario.

Hammell said not all homes are selling quickly or above asking price yet.

Properties that are well-positioned and well-priced … are still seeing competition and even multiple offers in certain areas, but properties that are not well-positioned and in less desirable areas, buyers definitely have more leverage with those, she said.

If we continue to see a constrained supply of listings and activity picking up, then that can always put pressure on prices too.

Buyers seizing opportunity, expert says

There were 2,312 sales last month in the City of Toronto, a 9.2 per cent increase from April 2025. Across the rest of the GTA, home sales were up 5.7 per cent to 3,634.

All housing types saw more activity throughout the region last month, led by a 9.2 per cent year-over-year increase in detached home sales, along with 9.1 per cent more condo sales.

Sales of townhouses and semi-detached homes ticked up 0.6 per cent and 0.4 per cent, respectively.

The upswing in condo sales in April could signal the start of a turnaround for that property segment. Condo sales in the GTA have plunged in recent years amid a severe mismatch between available inventory and buyer demand, after consecutive years of high completion rates.

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With so much new supply, property values have sunk. But that’s opened up new opportunities for first-time buyers, said Hammell.

I think a lot of buyers are ready to kind of take the plunge, she said.

They’re seeing market affordability conditions improving and this is their opportunity to get into the market and get on the property ladder. A lot of people are starting to seize that opportunity.

Sammy Hudes (new window) · The Canadian Press