Homes sales across the Greater Toronto Area were down in April by 23.3 per cent year-over-year. The Toronto Regional Real Estate Board recorded 5,601 sales and a average selling price of $1,107,463 that was 4.1 per cent lower.
The sharpest decline for the month of April was in the condo market, with 30.4 per cent fewer sales and a 6.8 per cent price dip to $678,048, followed by townhomes with 22.9 per cent fewer sales.
Buyers are continuing with their wait-and-see approach when it comes to borrowing costs.
“Following the recent federal election, many households across the GTA are closely monitoring the evolution of our trade relationship with the United States,” said TRREB President Elechia Barry-Sproule. “If this relationship moves in a positive direction, we could see an uptick in transactions driven by improved consumer confidence and a market that is both more affordable and better supplied.”
New listings amounted to 18,836– up by 8.1 per cent year-over-year. On a month-over-month seasonally adjusted basis, home sales edged up compared to March 2025, while the average selling price went down.
“Inventory levels remained elevated historically in April, pointing to substantial choice for households looking to purchase a home in the GTA,” said TRREB Chief Information Officer Jason Mercer. “Buyers took advantage of this choice when negotiating purchase prices, which resulted in a lower average price across market segments compared to last year. Lower prices coupled with lower borrowing costs translated into more affordable monthly mortgage payments.”
TRREB CEO John DiMichele noted that resale housing supply is currently increasing in the GTA. “However, as demand picks up and the population continues to grow with immigration, we will need to build more homes,” he urged. “Pre-construction sales have trended lower over the past year and therefore we will continue to see fewer housing starts. This means the supply pipeline will ultimately run dry. TRREB will be continuing to work with all levels of government on initiatives that promote fair and equitable taxation, reduce barriers for first-time homebuyers, and expand housing supply options throughout the province.”
