Home sales in the Greater Toronto Area rose on a year-over-year basis in March for the first time in six months.
According to the Toronto Regional Real Estate Board, 5,039 homes changed hands in March, up 1.7% from the same month last year. This marks the first increase since last September.
TRREB president Daniel Steinfeld called the rise “an encouraging sign to see activity start to grow,” suggesting more households are seeking to take advantage of improved affordability. He added, “Positive news on trade and geopolitical issues would help improve consumer confidence and home sales in the months ahead.”
The average selling price dropped 6.7% year-over-year to $1,017,796, while the composite benchmark pric fell 7.4%. Month-over-month prices remained relatively flat on a seasonally adjusted basis.
TRREB’s chief information officer Jason Mercer said buyers are benefiting from “substantial negotiating power” on price. “This explains why benchmark and average selling prices were down year-over-year,” he said. “However, if market conditions continue to tighten, as they did in March, selling prices could start levelling off as we move through the remainder of 2026.”
There were 14,442 new listings in March, down 16.7% from last year, while total active listings decreased 8% to 21,596.
Regionally, the Toronto saw 1,913 sales, up 0.9% from March 2025. The rest of the GTA had 3,126 sales, a 2.1% increase. Detached homes led the gains with a 5.2% rise in sales, condos were up 1.7%, while semi-detached homes fell 6.9% and townhouses dropped 1.7% year-over-year.
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