TRREB: Average Home Price Down 6.7% to $1.02M

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The Greater Toronto Area housing market entered spring on firmer ground in March, with home sales climbing both month-over-month and year-over-year for the first time in several months.

A total of 5,039 homes changed hands (a 1.7% y-o-y increase), while new listings dropped 16.7% to 14,442, tightening the market from the supply side. The average selling price came in at $1,017,796, down 6.7% from last year but essentially flat compared to February, a sign that prices may be stabilizing.

“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.”

The math is improving for buyers. Lower prices, combined with the Bank of Canada’s overnight rate at 2.3% and mortgage rates having come down from their peaks, mean more purchasing power than at any point in the last two years. Homes are still taking longer to sell (31 days on average, up from 24 last March), which gives buyers room to negotiate.

At the same time, the window may not stay open forever. With new listings continuing to fall and buyers reportedly waiting on the sidelines, TRREB President Daniel Steinfeld noted that “positive news on trade and geopolitical issues would help improve consumer confidence and home sales in the months ahead.”

He explains that if sidelined buyers start to move, today’s buyer-friendly conditions could shift quickly, especially heading into what’s traditionally the busiest season of the year.

Related: Zoocasa’s 2026 Canadian Housing Market Predictions

Detached Homes Lead Sales for Lower Price Point

Detached homes made up 44.4% of all sales in March, with 2,235 transactions, and they continue to lead the market. However, prices remain under pressure. The average price for a detached home in the GTA fell 6.4% from last year to $1,342,375. In the 416 area, prices dropped 6.4% to an average of $1,613,066, while in the 905, detached home prices fell 6.1% to $1,248,832.

On the sales side, detached homes saw a 5.2% increase overall, with the 905 area driving much of that growth at 6.5%. The 416 area also saw minor gains, with sales up 1.4% year over year, suggesting that improved affordability is bringing buyers back to the market.

Condo Sales Increase as More Buyers Score Deals

Condo apartments accounted for 1,422 sales across all TRREB regions in March, a 1.7% increase from last year. There was also a notable shift from the double-digit declines seen in earlier months. In the 416 area, condo sales were up 3.0%, while in the 905 area, they were essentially flat at -0.8%. However, prices continued to decline.

The average condo price across the GTA was $620,479, down 9.1% from last year. In Toronto, condo prices fell 9.6% to $648,287, while in the 905 area, they dropped 8.3% to $564,332.

Semis and Towns Remain Sought-After This Spring

For buyers eyeing a bit more space without the full detached price tag, semi-detached and townhouses remain two of the most compelling options across the GTA right now. Semi-detached homes sold for an average of just over $1M in March, with prices down roughly 7% from last year, creating real opportunity for families looking to get into established neighbourhoods with a backyard and a bit of elbow room.

In the 416, semis still carry a premium (averaging around $1.23 million), but the 905 offers more breathing room at about $870K. Townhouses show a similar trend: the GTA-wide average came in at $931,740, and sales in the 416 actually jumped over 13% year-over-year, suggesting strong demand from buyers who want more space than a condo but without the price of a detached house.

With new listings down nearly 17% across the board, the window for negotiating a good deal on these popular “missing middle” home types may not stay open forever.

Related: Dinner or a Detached Home? Why Falling Home Prices Didn’t Make Canada More Affordable

Peel and York in High Demand in the 905

Brampton, Mississauga, and Markham continue to anchor suburban demand, with Peel and York regions capturing most of the activity outside the City of Toronto. In March, Brampton recorded 375 total sales at an average price of $892,085, reinforcing its status as a key destination for buyers prioritizing affordability. Mississauga led the group in absolute volume, with 452 sales and an average price of $966,615, supported by a diverse mix of home types, including a large share of condos. Markham also remained a major suburban hub, posting strong March sales at a higher average price point, reflecting its concentration of detached and semi‑detached homes in established neighborhoods.

Brampton also stood out in the detached segment, tying with Mississauga for the highest detached sales count at 203 transactions, and outpacing Vaughan (113) and Markham (93). With an average detached price of $1,030,673, Brampton remains notably more affordable than Mississauga, where detached homes averaged $1,237,797 in March, making it an attractive option for move‑up buyers seeking more space at a comparatively lower price point.

Durham Leads on Affordability for Detached Homes

Durham is the value play. Oshawa ($779,762), Clarington ($945,267), and Ajax ($995,967) are the only municipalities where detached homes average under $1 million. Oshawa is nearly half the GTA average and saw strong volume with 117 sales. For buyers who need space but are priced out of Toronto or York Region, Durham is doing the heavy lifting.

Similarly, homes move fastest in Durham and Halton. Average days on market were just 21–24 in Whitby, Ajax, and Burlington, compared to 41 in Georgina and 44 in Caledon. The fastest-selling pockets also tend to have the tightest inventory.

Where to Buy a Detached Home in Toronto Under $1.6M

Within the City of Toronto, 574 detached homes sold in March 2026 at an average price of $1,613,066. But that headline number masks a wide range depending on where you look.

Toronto Central was the priciest pocket, averaging $2,238,951 across 179 sales. At the top end, York Mills, Bridle Path, and Hoggs Hollow hit $5,055,833, and Rosedale and Moore Park reached $4,053,292.

Toronto West led in volume with 191 sales at $1,507,399. Activity was strongest in Islington and West Deane, with 41 sales averaging $2,056,783, and in Black Creek and York University Heights, with 25 sales at a more accessible $1,206,235.

Toronto East offered the best value, with 204 sales averaging $1,162,815, nearly $450,000 less than the central core. Neighbourhoods like Steeles and Tam O’Shanter at $1,047,739, Milliken and Agincourt North at $1,068,199, and Malvern and Rouge at $1,018,108 all came in near or below the GTA-wide detached average. East-end homes also sold fastest at 23 days on market, compared to 24 in the west and 30 in the central core.

Toronto and the GTA’s Condo Market at a Glance

Across the GTA, 1,422 condo apartments sold in March 2026 at an average price of $620,479. Toronto accounted for 67% of all transactions, with 951 sales averaging $648,287. Outside the city, condos are trading hands more slowly. Mississauga posted 126 sales at $527,743, and Brampton just 21 at $433,839.

Within Toronto, the central core drove most activity with 650 sales at $680,286. Downtown, Entertainment District, and Liberty Village led with 223 sales at $708,868, followed by Regent Park, St. James Town, and Corktown with 136 sales at $611,529. Together, these two neighbourhoods accounted for over a third of all city condo transactions.

Inventory remains elevated: 4,912 active condo listings sat against just 951 sales in Toronto, keeping this segment firmly in buyer’s market territory, and spent an average of 39 days on the market.

Where to Find Toronto’s Best Condo Deals in Spring 2026

For buyers looking to enter the market under $500,000, Scarborough delivers. Dorset Park and Kennedy Park averaged $470,333; Milliken and Agincourt North came in at $462,495; Morningside, Woburn, and Bendale at $479,611; and Malvern and Rouge at $415,600. These east-end pockets offer a 416 address without the 416 price tag.

The west end sits in the $450–650K range, offering a middle ground between central premiums and Scarborough’s deep discounts. Yorkdale, Glen Park, and Weston averaged $461,230; Rockcliffe, Smythe, Keelesdale, and Eglinton West came in at $591,580, and Mimico and Alderwood at $648,587.

At the luxury end, the numbers are high, but the volume is low. Yorkville, Annex, and Summerhill averaged $1,067,069 across 38 sales, while Rosedale and Moore Park averaged $898,500 across just 4 transactions. These pockets skew the central average upward but represent a very small share of actual market activity.

Prioritizing the “Missing Middle” for GTA Housing

Despite the current high inventory, TRREB CEO John DiMichele warned the GTA could face a serious housing shortage if construction doesn’t pick up. He explains that although he welcomes the recent HST and development-charge relief, he stresses that what gets built matters as much as how much is built.

The priority should be more “missing middle” housing (semis, townhouses, and low-rise apartments), so buyers have options between condos and detached homes. Ontario’s Building Homes and Improving Transportation Infrastructure Act is a step in that direction.

After all, without more supply, buyers are stuck choosing between a $620,479 condo and a $1,342,375 detached home, with very few options in between.