Home sales in the Greater Toronto Area experienced a boost in April compared to the same period last year, marking the second consecutive month of year-over-year growth. The Toronto Regional Real Estate Board (TRREB) reported that 5,946 homes were sold in April, representing a seven percent increase from last year. Additionally, sales rose by 6.1 percent when adjusted for seasonal variations compared to March.
During the same period, the average selling price dipped by 4.9 percent to $1,051,969 in April 2025. The composite benchmark price, reflecting the standard home value, also decreased by 6.6 percent year-over-year.
TRREB’s chief information officer, Jason Mercer, attributed the surge in homebuyers to reduced home prices and borrowing costs in the past year. Mercer highlighted the existing pent-up demand in the market and suggested that improvements in market activity could be further catalyzed by increased trade certainty and a reduction in geopolitical tensions.
In April, the market saw a decrease in new listings by 9.3 percent compared to the previous year, with a total of 17,097 new listings. The inventory also dropped by 6.4 percent, resulting in 25,110 active listings across the Greater Toronto Area.
Despite the upward trend in transactions and the decline in inventory, home prices have not yet stabilized. Real Broker Ontario’s Jessica Hammell noted that buyers currently have a favorable window for making purchase decisions, with some properties experiencing competition and multiple offers, particularly those that are well-positioned and attractively priced.
In the City of Toronto, there were 2,312 home sales in April, marking a 9.2 percent increase from April 2025. In other parts of the GTA, home sales rose by 5.7 percent to reach 3,634 transactions. All housing types witnessed increased activity, with detached home sales and condo sales leading the surge with 9.2 percent and 9.1 percent year-over-year growth, respectively. Townhouses and semi-detached homes also saw slight increases in sales.
The rise in condo sales in April could indicate a potential turnaround for this property segment, which has faced challenges due to a mismatch between supply and demand in recent years. The increase in supply has led to decreased property values but has created new opportunities for first-time buyers, according to Hammell.
Many buyers are now capitalizing on improved market affordability conditions, viewing this as a prime opportunity to enter the real estate market and climb the property ladder.