Toronto Market
Toronto/GTA Market Update: April 2026
Sales up 7%. Average price down 5%. Listings down 9%. The Toronto market is doing something unusual — buyers are returning before sellers do.
TRREB’s April 2026 data is out and the headline is unusual: sales are up, but so is the supply imbalance — new listings dropped harder than buyer demand. Here’s the full picture and what it means if you’re shopping or selling in the GTA right now.
The numbers
- Sales: 5,946 transactions through TRREB’s MLS system — up 7% year-over-year
- Average price: $1,051,969 — down 4.9% YoY, slightly up month-over-month
- HPI Composite Benchmark: down 6.6% YoY (a cleaner measure than average price because it’s mix-adjusted)
- New listings: 17,097 — down 9.3% YoY
What this combination means
Sales rising while listings fall is a tightening signal. For most of 2024 and early 2025, the GTA was in the opposite position — lots of supply, reluctant buyers. The April data suggests buyers are starting to come off the sidelines while sellers are still waiting.
That gap doesn’t last forever. Historically, when sales begin recovering before listings, prices follow within a quarter or two. Whether that translates into actual price increases depends heavily on what the Bank of Canada does with rates over the next six months — if rates hold flat at 2.25%, the buyer-side momentum likely continues.
Property type matters more than usual
The headline numbers mask big differences across product types:
- Detached houseshave held value better than other segments — supply is genuinely tight in the freehold market
- Townhouses took the biggest hit in April (down ~8% in some sub-markets)
- Condosremain the slowest segment — oversupply from 2020-2023 completions is still working through the system
If you’re buying, condos are still where buyer power is greatest. If you’re selling a condo, expect it to take longer to find the right buyer than a freehold property at the same price tier.
What I’m telling buyers right now
- Get a real pre-approval, not a pre-qualification. The difference matters when you’re competing. Talk to me here if you don’t already have one.
- Don’t wait for “the bottom.” By the time the data confirms a bottom, prices will already be 5% off it.
- Don’t overweight one month. April is a single data point. We need 2-3 more months of the same trend to call this a turn.
What I’m telling sellers
- The first three weeks tell you the truth.If you’re not getting showings or offers, the price is wrong. Re-evaluate fast.
- Listing late spring is still strong.Inventory tightness gives well-priced, well-prepared homes leverage they haven’t had in two years.
- Free yourself from the 2022 anchor.Many sellers are still mentally pricing against 2022 peaks. Today’s buyer is comparing your home to comparables that closed last week.
Bottom line
April 2026 is the first month in over a year where the GTA market is starting to look more interesting for sellers than for buyers — but it’s early. Property type, neighbourhood, and timing matter more than the headline number.
Want a free, no-obligation valuation of where your specific home sits in this market? Send me the address and I’ll send you back a comparable analysis within 24 hours.
Source: TRREB Market Watch April 2026.