There was an uptick in March home sales in the Greater Toronto Area, which suggests affordability conditions are improving. The Toronto Regional Real Estate Board (TRREB) reported that the resale market has tightened compared to last year.

There were a reported 5,039 home sales last month, an increase of 1.7 per cent compared to March 2025. New listings amounted to 14,442, down by 16.7 per cent year-over-year. The average selling price at $1,017,796, was down by 6.7 per cent.

“Buyers continued to benefit from substantial negotiating power on price across major market segments in the last month,” said TRREB Chief Information Officer Jason Mercer. “This explains why benchmark and average selling prices were down year-over-year. However, if market conditions continue to tighten, as they did in March, selling prices could start levelling off as we move through the remainder of 2026.”

GTA condo sales rose by 1.7 per cent in March, while the average selling price was down 9.1 per cent to $620,479. Semi-detached and townhome sales declined 6.9 per cent and 1.7 per cent, respectively, while higher sales activity was seen in the detached home market at 5.2 per cent. The townhome sale price dipped 6.4 per cent to $850, 266, while detached homes fell by 6.4 per cent as well to $1,342,375.

Overall, the average selling price for a home in the GTA, at $1,017,796, was down by 6.7 per cent compared to March 2025.

Heading into the spring market, TRREB CEO John DiMichele forecasts that housing supply is “in danger of running dry.”

“The federal and provincial governments announcements on HST and development charge relief were important affordability policy initiatives designed to spur new home sales and construction,” he said. “It will be important to ensure that the right types of homes are built, namely ‘missing middle’ home types bridging the gap between condos and traditional single-family homes. This is contemplated in the recent Ontario Building Homes and Improving Transportation Infrastructure Act.”