Home sales in the Greater Toronto Area increased year-over-year in March for the first time in six months, with 5,039 properties sold, representing a 1.7 per cent rise compared with the same month last year. Sales also increased slightly from February on a seasonally adjusted basis. Despite the improvement in activity, overall demand remains cautious as economic uncertainty and broader global factors continue to influence buyer confidence. New listings declined 16.7 per cent year-over-year, while total active listings fell eight per cent, indicating tightening supply conditions.

Average selling prices continued to fall, with the average price decreasing 6.7 per cent year-over-year to $1,017,796 and the benchmark price dropping 7.4 per cent. Buyers currently benefit from stronger negotiating power as affordability conditions improve relative to previous years. Detached homes saw the largest increase in sales activity, while semi-detached homes and townhouses experienced slight declines. Analysts suggest that if market conditions continue to tighten, selling prices could begin stabilizing later in 2026.

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