Update, October 6, 2026: this report now also includes April 2026 and the May condo apartment figures, which were previously separate articles. Later months: in August 2026 TRREB reported 5,057 sales (down 2.1% year over year), an average price of $993,410 (down 2.7%), new listings of 12,075 (down 14.1%) and a composite benchmark down 4.5% year over year.
The Greater Toronto Area resale market tightened in May 2026 even as prices softened. GTA REALTORS® reported 6,583 home sales through TRREB's MLS® System, up 6.3% year over year and, on a seasonally adjusted basis, about 10% higher than April. New listings fell 18.9% to 17,698, so demand rose while fresh supply pulled back. Active listings at the end of May were 26,927, down 13.3% from a year earlier.
Prices
The average selling price was $1,069,700, down 4.6% from May 2025. The MLS® Home Price Index composite benchmark, which adjusts for the mix of homes sold, was down 6.7% year over year. More buyers returned, but the choice that had built up earlier in the year kept pricing power with buyers.
April 2026 for comparison
- Sales: 5,946, up 7% from April 2025
- New listings: 17,097, down 9.3%
- Active listings at month end: 25,110, down from 26,813 a year earlier
- Average price: $1,051,969, down 4.9%; composite benchmark down 6.6%
Condo apartments in May
- GTA: 1,535 condo apartment sales at an average of $639,468
- City of Toronto: 1,009 sales, average $673,841
- 905 regions: 526 sales, average $573,531
- Benchmark: $539,400 across TRREB's area, down 9.1% from May 2025 (City of Toronto $556,600, down 8.8%)
With the condo apartment benchmark down more than the composite (6.7%), condo apartments were the weakest segment, which helps first-time buyers and makes timing harder for owners who need to sell.
What it means for buyers
Lower prices than a year ago and a Bank of Canada policy rate held at 2.25% improved affordability, even if it remains stretched. With new listings down sharply, well-priced homes still moved, but buyers generally had more room to negotiate than in the springs of 2021 and 2022. Get your budget firm first with a free pre-qualification, then model the monthly cost with our calculators.
What it means for sellers
Rising sales against falling listings is a tightening market, but with prices below last year, pricing to today's sold data is what gets homes sold. Start with a free instant home valuation.
Track your own home's value
With My Home you can follow your home's estimated value and see how each TRREB report and Bank of Canada decision moves your equity.
Frequently asked questions
What is the MLS® Home Price Index benchmark?
It's a quality-adjusted measure of the price of a typical home, so it isn't skewed when more expensive or cheaper homes happen to sell in a given month. That's why it can move differently from the average price.
Where can I find figures for my own area?
TRREB's monthly Market Watch breaks sales and prices down by municipality, TRREB district and property type. For a specific street or building, recent sold prices tell you more than any average.
Are condo apartments a bargain now?
Prices were lower than a year earlier, but "cheaper than last year" isn't the same as good value for every unit. Compare the price with recent sales in the same building, and check the fees, reserve fund and any special assessments in the status certificate.
Why did sales rise while prices fell?
More buyers came back in the spring, but there were still many homes to choose from after a slow start to the year, so sellers had less pricing power than in past springs.
Wondering what these numbers mean for your move? Ask Zara, Summitly's AI virtual agent, or talk to a licensed Summitly agent.
