05/05/2026
Prices still adjusting as inventory declines and demand return📊
April's TRREB numbers are out, and a few things stood out to us:
‣ Sales were up 7% year-over-year — the second consecutive month of YoY gains
‣ New listings dropped 9.3%, the third straight month of declines
‣ Months of inventory tightened to 4.2, down from 5.0 in February
‣ GTA average price came in at $1,051,969 (-4.9% YoY, but the rate of decline is moderating)
In the City of Toronto, average prices are ~3%–9% below 2022 levels:
‣ Detached homes: 770 sold, average price $1,668,973, 22 days on market
‣ Semi-detached homes: 237 sold, average price $1,286,166 at 105% of list, 18 days on market
‣ Condos: 1,054 sold, average $665,507, 37 days on market.
With the Bank of Canada overnight rate at 2.25% and inventory continuing to draw down, three of four property types posted month-over-month price gains in April. That suggests pricing may be finding a floor. If the supply trend holds, price stabilization through late spring is a reasonable expectation.
If you're thinking about your next move or want to talk through what this means for your property, feel free to reach out.