The Greater Toronto Area (GTA) housing market demonstrated significant resilience and renewed momentum in March 2026, marking a pivotal shift as it enters the spring season. For the first time in six months, year-over-year sales saw an uptick, suggesting that households are increasingly moving off the sidelines.
GTA sales of all home types in March 2026 were 1.7 per cent higher compared to March 2025. The average selling price, at $1,017,796, was down by 6.7 per cent. "It's encouraging to see an uptick in March home sales compared to last month and last year. This suggests that an increasing number of GTA households are looking to take advantage of improved affordability as we move into the spring market," says Daniel Steinfeld, President of the Toronto Regional Real Estate Board (TRREB).
The detached homes segment in the GTA saw the biggest increase in sales, up by 5.2 per cent year-over-year. The condo market sales notched up by 1.7 per cent. Over the last quarter, there have been improvements in affordability, and first-time home buyers could be entering the condo market again as prices are now within reach for a growing number of entry-level buyers, says TRREB Chief Information Officer Jason Mercer. And for move-up buyers who want to jump into the detached market, as more homes come on at lower price points, it's allowing for more upward mobility, Mercer adds.
Pricewise, in the City of Toronto, a detached home in March sold for $1,613,066 on average, dipping 6.4 per cent from last year, while the condo stood at $648,287, down by 9.6 per cent. In the suburbs, a detached home sold for $1,248,832 on average, dipping 6.1 per cent from last year, and the condo at $564,332 dropped 8.3 per cent.
New listings decreased significantly, falling 16.7 per cent year-over-year to 14,442. This decline in new supply, coupled with rising sales, has helped draw down active inventory to 21,596 units, an 8.0 per cent drop from last year, indicating a tightening of the market.
"Buyers continued to benefit from substantial negotiating power on price across major market segments in the last month. This explains why the benchmark and average selling prices were down year over year. 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," says Mercer.