The latest TRREB numbers are in — released May 5, 2026 — and for the first time in a while, the GTA market is sending mixed but genuinely interesting signals. Sales are up. Listings are tightening. But prices are still lower than a year ago. For buyers and sellers in Southern Ontario, here's what this actually means.
5,946 homes sold across the GTA in April 2026 — up 7% from April 2025. That's the second consecutive month of year-over-year sales gains. New listings fell 9.3% year-over-year to 17,097. The average selling price came in at $1,051,969, down 4.9% from April 2025 but up 3.4% from March 2026.
Two things: lower prices and lower borrowing costs. The Bank of Canada has cut its policy rate to 2.75%, down from the peak of 5%. That's translated into meaningfully lower mortgage rates. Buyers are taking advantage of more affordable market conditions — that's central bank language for: things are cheaper, and people are buying.
New listings are down 9.3% year-over-year. That means sellers are pulling back — either waiting for prices to recover, or deciding not to sell. Meanwhile buyers are more active. When supply falls and demand rises, prices follow — eventually. We're not there yet, but the directional trend is clear.
You still have negotiating power. Prices are 4.9% below last year. You can still get conditions — financing, inspection — accepted in most submarkets. That's not going to last forever. Waiting for the absolute bottom is a known trap: by the time it's obvious the bottom is in, prices have already moved.
Do not overprice. The market is tightening but it's not a seller's market yet. Homes priced right are moving in 21-32 days. Homes that start high are sitting — and every week a home sits, buyers assume something is wrong with it.
With prices down 4.9% from last year, commission savings matter more than ever. On a $1,051,969 home, the difference between a 2.5% listing commission ($26,299) and our 1% ($10,520) is $15,779. That's money you keep regardless of where the market goes.
Sell for 1% listing commission or buy with up to 50% cash back at closing. Free consultation, no obligation.
