April 2026 TRREB Report: GTA Sales Rise 7 Percent as Prices Fall and the Spring Market Finally Finds Its Footing

By YorkNine Journal · 2026-05-05

GTA home sales climbed 7 per cent in April 2026 while average prices fell to $1,051,969. New listings dropped 9.3 per cent. The window for buyers is open and it is narrowing. Here is what the data means for you.

The phone buzzed at 6:47 on a Tuesday morning in Ajax. Marcus had been waiting two years for a number like this. He refreshed the TRREB page one more time, read the headline again, and called his agent before his coffee finished brewing.

The April 2026 numbers are in. And for the first time in a long time, the GTA market is sending a message that deserves to be heard.

April 2026: The Data That Changes the Conversation

The Toronto Regional Real Estate Board reported 5,946 home sales across the GTA in April 2026. That is a seven per cent increase year over year. Sales also climbed 6.1 per cent on a seasonally adjusted basis from March. Two consecutive months of gains. The spring market has arrived, and it has weight behind it.

But here is the detail that matters most to buyers sitting on the sidelines: prices are still down.

The average selling price for April 2026 came in at $1,051,969, a decline of 4.9 per cent compared to April 2025. The MLS Home Price Index Composite benchmark fell 6.6 per cent year over year. In simple terms, you are buying more activity and less competition, at lower prices than a year ago.

That combination does not last.

An open house in a bright GTA living room with buyers speaking to an agent

Supply Is Shrinking. Demand Is Building.

New listings in April totalled 17,097, a drop of 9.3 per cent year over year. Total active listings across the GTA came in at 25,110, down 6.4 per cent. The market is absorbing inventory faster than it is being replaced.

On a seasonally adjusted basis, sales grew at a faster monthly rate than new listings. TRREB President Daniel Steinfeld put it plainly: "Buyers have taken advantage of more affordable housing market conditions on the back of lower home prices. If market conditions continue to tighten and home prices level off, this could be a signal to intending homebuyers who remain on the sidelines."

The window is measurable. It is not infinite.

Jessica Hammell of Real Broker Ontario captured the nuance on the ground: properties that are well-positioned and well-priced are already seeing competition and multiple offers in certain areas. The polarization is real. Smart buyers are identifying where value still exists before the rest of the market catches up.

A sold sign on a Mississauga home with a family visible through the window

What the Bank of Canada Hold Means for You

On April 29, 2026, the Bank of Canada held its benchmark interest rate at 2.25 per cent for the fourth consecutive time. The central bank cited ongoing trade uncertainty with the United States and elevated geopolitical tensions as the reason for caution, while acknowledging that high oil prices could eventually push rates higher.

For buyers, the practical impact is stability. Variable rate mortgages continue to track prime around 4.45 per cent. The best five year fixed rates remain in the low 4 per cent range. Combined with the price corrections the GTA has absorbed over the past 18 months, real affordability has improved in a meaningful way.

TRREB Chief Information Officer Jason Mercer noted that lower home prices and borrowing costs over the past year have been a catalyst for buyers this spring, while pointing to the substantial pent-up demand still waiting on the sidelines. "More certainty on the trade front and an easing in geopolitical tensions would result in further improvements in market activity," Mercer said.

Translation: when confidence returns, demand moves. The buyers who positioned themselves before that happens are the ones who will look back on May 2026 as the moment they got it right.

A man outside a bank branch checking his phone on a spring morning

City of Toronto vs The 905: Both Are Moving

Within the City of Toronto, 2,312 homes sold in April, a 9.2 per cent increase from April 2025. Across the rest of the GTA, 3,634 sales were recorded, up 5.7 per cent.

Every housing type saw increased activity. Detached home sales led the charge with a 9.2 per cent year over year increase. Condo sales followed at 9.1 per cent, which is particularly notable given the severe pressure that segment has faced. Condo prices are still soft. Inventory remains elevated. But the direction of travel has shifted.

For first time buyers, the condo market in particular represents a point of entry that has not existed at this price level since before 2020. Buyers who move thoughtfully and decisively today are not catching a falling knife. They are stepping into a stabilizing market before the rest of Ontario does the same.

What This Means for the GTA in May

The April 2026 data tells one story with remarkable consistency: the worst is behind us and the smart money is already moving. Sellers who priced aggressively through 2025 are finally adjusting. Buyers who waited for certainty now have more data than they will ever need.

At yorknine.ca we work across the full GTA, from the 416 to Halton, Durham, York Region, and Hamilton. Our team watches every neighbourhood shift in real time. If you have been waiting for the market to give you a signal, today it did.

The question now is whether you act on it.