04/08/2026
The Greater Toronto Area housing market saw prices move higher in March, with the average sale price climbing to $1,017,796, up 4.5 per cent since the start of the year. While this marks a recovery from January lows, prices remain 7 per cent below last year and have fallen back beneath levels recorded in early 2021. Inventory continues to build relative to historical trends, with 21,696 active listings, 69 per cent above the 10 year average, though down slightly, by 8 per cent, year over year. Sales reached 5,039 for the month, up 30 per cent from February and slightly above March 2025, yet still well below typical levels, at 44 per cent under the long term average.
So what does this really mean? Well to quote from many financial brochures, "past performance does not guarantee current returns." What happened in March, happened before the war in Iran. Once again, we've entered a period of uncertainty that is roiling markets, so the April picture has become cloudy once again.
However, it is safe to say that If you're thinking of selling, don't expect to receive the sort of price you would have received at the height of the Pandemic era. Buyers have the upper hand in this market, so pricing your home strategically is very important ... trying a higher price to "test the market" usually ends with a price reduction two weeks later.
If you're a potential buyer, make sure you have mortgage pre-approval. Going thru this process will help you to determine what you can realistically spend on a property, as well as hold an interest rate for you for from 90-120 days. And if rates happen to go down, you'll receive the lower rate, but you'll be protected from any increases during the protection period. Fixed mortgage rates have already inched up, so any rate protection is better than no rate protection.
