Home sales across the Greater Toronto Area showed renewed momentum in April, rising for the second consecutive month on a year-over-year basis as lower prices and easing borrowing costs encouraged more buyers to re-enter the market.
According to the Toronto Regional Real Estate Board, a total of 5,946 homes were sold in April, marking a seven per cent increase compared to the same period last year. On a seasonally adjusted basis, sales were also up 6.1 per cent from March, reflecting growing activity as the spring market gained traction.
Despite the uptick in sales, home prices continued to trend downward. The average selling price declined by 4.9 per cent year-over-year to $1,051,969, while the composite benchmark price — which represents the typical home — dropped by 6.6 per cent compared to April 2025. Market analysts suggest this price correction has played a key role in drawing buyers back into the market after a period of hesitation.
TRREB Chief Information Officer Jason Mercer noted that reduced home prices combined with relatively improved borrowing conditions have acted as a catalyst for renewed buyer interest this spring. However, he also pointed out that a significant amount of pent-up demand remains, indicating that the market could see further activity in the coming months.
On the supply side, new listings fell by 9.3 per cent year-over-year to 17,097 properties, while total active listings dropped 6.4 per cent to 25,110. The tightening supply alongside increasing demand could influence pricing trends as the market moves deeper into the busy spring and summer seasons.
Overall, the April data suggests a cautiously improving housing market in the GTA, with affordability gains beginning to bring buyers back, even as broader economic factors continue to shape long-term trends.