Toronto Real Estate Board Market Watch

Home sales reached 6,583 transactions, up 6.3% year over year.
New listings totaled 17,698, down 18.9% year over year.
Average selling price came in at $1,069,700, down 4.6% compared to May 2025.
The Big Picture: The GTA housing market continued to tighten in May as sales increased while new listings declined significantly compared to last year. Buyer activity strengthened throughout the spring, with sales rising 10% month-over-month on a seasonally adjusted basis, while new listings edged lower.
Although home prices remain below last year’s levels, the gap between supply and demand is narrowing. As available inventory is absorbed, competition is increasing in some neighbourhoods, creating more balanced market conditions and setting the stage for potential price stabilization in the months ahead.
What does this mean for you?
- Sellers: With fewer new listings entering the market and buyer demand continuing to improve, well-priced and well-presented homes are attracting more attention. Strategic pricing and marketing remain essential to maximizing your results.
- Buyers: Lower prices compared to last year continue to provide opportunities, but as market conditions tighten and competition increases in some areas, preparation and decisive action are becoming increasingly important.

May 2026 vs. May 2025