Sales activity increased in the GTA home resale market in May compared with the same month in 2025, marking the third consecutive month of sales growth. According to The Toronto Region Real Estate Board (TRREB), home sales in May jumped by 6.3 per cent compared to last year.
The largest increase in sales was in the suburban detached home segment, up 9 per cent year-over-year, followed closely by the same home type in the City of Toronto, up 8.9 per cent. Condo apartment sales were also higher than last year, up by 4.2 per cent in both the City and the 905 area.
"Spring sales have been stronger than last year, reflecting improved affordability stemming from lower selling prices and borrowing costs. Sales are forecast to improve further as we move through the second half of this year. Recovery would be further bolstered by positive news on the trade front along with an easing of geopolitical tensions and related uncertainty," says TRREB President Daniel Steinfeld.
The average home sale price in the GTA stood at $1,069,700 in May, 4.6 per cent below last year, with declines across all home types in both the 416 and 905 area compared with May 2025. A detached home in the City went for an average of $1,610,988, down 6.5 per cent year-over-year, while in the 905 area, the average was $1,268,625, down 3.9 per cent. The price decline for semi-detached homes in the City was the least of all categories, at only 0.6 per cent to $1,293,258, and 2.9 per cent overall in the GTA to $1,067,672. The price of a condo apartment in the City dipped by 5.0 per cent to $673,841, while in the 905 area the price decreased by 9.5 per cent to $573,531.
New listings, typically a telltale sign of over- or undersupplied markets, were down 18.9 per cent year-over-year in May, following a 9.3 per cent drop in April and a 16.7 per cent drop in March, indicating the market is tightening.
TRREB reports that as inventory drops and sales pick up, the GTA should soon see growth in average price. "Sales increased year-over-year, whereas new listings declined over the same period. As standing inventory has been absorbed, competition between buyers has likely increased in some neighbourhoods. This should see the price trend flatten and ultimately trend upwards in the months ahead."