March, 2026: Toronto & GTA MLS® home sales: Very unusual

Greater Toronto, Ontario - Tuesday April 7, 2026 - Realtor® members of the Toronto Regional Real Estate Board [TRREB] released the Toronto and GTA residential MLS® sales statistics on Tuesday through the monthly MarketWatch publication reflecting continued softness in home sales across the region despite high hopes for a hot start to the Spring Market - normally the busiest time of the year. Would-be buyers - naturally - are perfectly happy with that softening as prices move further and further toward “affordable” for many.

Obviously it’s no secret that home prices - after an “unsustainable” [as we put it here many, many times during that period] run-up into the February 2022 high are now off a pretty heavy twenty-four percent or so. That’s a lot of “wealth”. On paper, at least. T.O. Detached homes have fallen $461,000 or a little over 22% from their peak [$2,073,989 vs $1,613,066] and Detached homes in “The 905 [area code]” region surrounding Metro Toronto are down $479,000 - nearly 28% [$1,727,963 vs $1,248,832]. Stark.

Amazingly - given the time of year, however, and despite the “feel” that some sellers have made the decision to “get on with it”, listing at a reasonable price in order to move on - available inventory dropped in terms of both “Newly Listed” [far more relevant] “Total Active Listings”. That’s unheard of to our knowledge for the month of March. Welcome to “non-confidence”... in employment, inflation, war, tariffs, mid-terms… you name it.

And - yes - “boots on the ground” types report that it feels as though some would-be sellers have finally thrown in the towel and come to the conclusion that prices ain’t goin’ back to their lofty highs any time soon and they’d rather get on with their life plans. Besides - whatever they’re trying to buy has very likely fallen by a similar percent as what they have to sell… granted usually less in net terms due to the “downsizing” part. Still - “What price lifestyle?” Or maybe they feel that more “questionable stuff” is on the radar. Or maybe they’re not sure. Who can be? Non-confidence.

Overall…

…including every “class” of home [e.g. Freehold, Condo, Co-Op, etc], “type” of home [e.g. Detached, Semi, Attached / Townhome, Link, etc], and “style” of home [e.g. Bungalow, 2-Storey, Split, Apartment, etc] across all of TRREB’s geographic market area… there were 5,039 sales reported for March, UP [!!] 1.7% versus last March. Don’t get too excited [unless you’re on the buyer side of the fence]: That’s about it for the “plus” kinda numbers in the March report.

The overall average price of those March sales came in at $1,017,796… down 6.7% or, put another way, about $72,500 closer to “affordable” for a lot of folks who’d like to buy a home but - simply - can’t. Or simply can’t see going so far into debt. Especially when prices are still getting more attractive. When you think something [significant] is going to cost you less tomorrow, it’s unlikely you’re going to buy it today - unless you have to.

Due to the strong seasonality of the Residential real estate is very “seasonal” - activity ebbs and flows pretty consistently with the seasons - this year obviously being a rare exception - so far at least - for that reason all figures reported here are year-over-year [YoY] comparisons except where noted. Interestingly - as we’ve noted here before - since the impact of COVID-19 first began - that “market seasonality” has moderated considerably. Just a thought…

Specific Numbers by General Area & Major Home Type

Metropolitan Toronto saw 574 sales of Detached homes on the month, up 1.4%, averaging a sale price of $1,613,066, off 6.4%. The balance of TRREB’s market area - the Greater Toronto Area surrounding the “city proper” - saw 1,661 “Detacheds” go under firm sale contract, up 6.5% [the other “big plus” in the report], at an average of $1,248,832, down 6.1%.

Sales volume of Condo Apartments actually went up in Toronto in March - albeit only 3% after a prolonged rough run. The total came in at 951 units at an average sale price of $648,287, down 9.6%. More ouch. The balance of the area saw 471 sales - essentially flat year-over-year [off 0.8%] at an average price of $564,332, down 8.3%. Geez. Condos.

Quoting… From the Report:

TRREB CEO John DiMichele:
“The GTA housing supply pipeline is in danger of running dry in the medium-to-long term. 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. 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.”

TRREB Chief Market Analyst Jason Mercer:
“Buyers continued to benefit from substantial negotiating power on price across major market segments in the last month. 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.”

Toronto Regional Real Estate Board (TRREB) President Daniel Steinfeld:
"It’s encouraging to see an uptick in March home sales compared to last month and last year. This suggests that an increasing number of GTA households are looking to take advantage of improved affordability as we move into the spring market. Positive news on trade and geopolitical issues would help improve consumer confidence and home sales in the months ahead.”

On Inventory…

“Newly listed” [for sale] homes totalled 14,442 for the month. That was down 16.7% from last March. As noted above, highly unusual for this time of year. "Total Active Listings" - the more relevant stat in our opinion - totalled 21,596 as of the end of March, down 8%

While “New Listings” tends to be more widely watched, [Total] Active Listings [TAL] gives a clearer picture from an inventory standpoint.

Downsizing continues to be a real market driver. All the "downsizer" needs is to find a buyer for the present, larger home! It just feels as though the market gridlock we’ve seen for awhile is on the verge of loosening up. Just a hunch… maybe from 30+ years’ experience…

So… what’s actually happened to Toronto area Bungalows for sale? You can find a big-picture overview including a map of Bungalow-specific stats around South-Central Ontario … and here’s a link to that February 2022 “peak” stats report for “just bungalows”. A special note regarding those 1 Storey home statistics: While both average and median sale prices are available for the entire set of “Bungalow Quick Stats” entries all the way back to January 2019, the map portion of those posts displays average sale prices up to and including December 2024. As of January 2025 we started using median sale prices… just so you’re aware.

Homes took - on average - 31 days to sell compared to 24 days last year… “29.2% slower” than a year ago based on the “LDOM” - Listing Days on Market - calculation. “PDOM” - Property Days on Market - 47 days versus 37, or 27% longer to sell. PDOM includes time on the market where a prior listing was terminated & re-listed, BUT not if the seller changed agents / brokerages so that stat is “incomplete”. Re-writing a listing often coincides with a “price adjustment”, of course.

Happy Spring - time to get outside more…! 🌱😎🌷🏡🪴 Have a great one and - as always - thanks for stopping by.

Andrew.

@JustBungalows @theBB.group

#JustBungalows #theBB.group

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Apr 14, 2026