Toronto’s housing market showed signs of tightening in April, as the number of available homes declined while sales activity picked up. According to the Toronto Regional Real Estate Board, this shift could encourage more hesitant buyers to re-enter the market.
A total of 5,946 homes were sold in April, marking an increase of about 7% compared to the same time last year. New listings dropped 9.3% year-over-year, pointing to a reduction in new supply entering the market.
TRREB president Daniel Steinfeld said improving affordability has already started to bring buyers back this spring.
“We have experienced an uptick in home buying activity so far this spring. Buyers have taken advantage of more affordable housing market conditions on the back of lower home prices,” TRREB president Daniel Steinfeld said. “If market conditions continue to tighten and home prices level off, this could be a signal to intending homebuyers who remain on the sidelines.”
April also stood out as the strongest sales month of the year so far, and the busiest April in two years. For comparison, April 2025 saw just 4,296 sales, the lowest total for that month in three decades.
The average time on market increased from 31 days in March to 43 days in April, further shifting conditions in favour of buyers. It’s clear that buyers are taking a more cautious and deliberate approach, often revisiting properties multiple times before making a decision rather than rushing into offers.
Market performance continues to vary depending on location and property type. In some neighbourhoods, homes are still selling relatively quickly, while others are taking longer to move.
The condo segment saw a notable rebound in April, with sales rising 9.1% year-over-year, closely matching the 9.2% increase in detached home sales. This follows a more modest 1.7% gain in condo sales the previous month.
Some have noted that current conditions are giving buyers a clear advantage, with inventory levels still elevated relative to demand. This imbalance is providing increased negotiating power across many segments of the market.
Stay tuned to see how the Toronto spring real estate market shapes up, and as always contact me if you have any questions!