The Greater Toronto Area real estate market showed early signs of tightening in March 2026 as the spring market began to take shape. Total Sales increased slightly compared to last year, while New Listings declined, gradually reducing available inventory. At the same time, selling prices remained lower year-over-year, improving affordability and encouraging more buyers to re-enter the market. On a month-over-month basis, both sales and listings increased, with sales rising at a slightly faster pace, signalling a modest shift in market momentum.
Here are the detailed statistics from March:
GTA
Average Sales Price
February 2026 to March 2026: $1,008,968 to $1,017,796 (~+1.0%).
March 2025 to March 2026: $1,090,372 to $1,017,796 (-6.7%).
Average selling prices in the GTA saw another modest month-over-month increase of approximately one percent from February to March 2026, suggesting early signs of price stabilization as the spring market begins. However, prices remained notably lower than a year ago, down 6.7% compared to March 2025, reflecting continued affordability improvements and ongoing buyer negotiating power in the current market.
Total Sales
February 2026 to March 2026: 3,868 to 5,039 (+30.3%).
March 2025 to March 2026: 4,956 to 5,039 (+1.7%).
While the month-over-month increase in Total Sales appears significant, it’s important to view it in context. March 2026 recorded just over 5K Total Sales, making it one of the slower starts to the spring market in recent years. Year-over-year activity was only slightly higher than March 2025, indicating that while conditions may be improving, overall demand remains relatively subdued.
New Listings
February 2026 March 2026: 10,705 to 14,442 (+34.9%).
March 2025 to March 2026: 17,340 to 14,442 (-16.7%).
Active Listings
February 2026 March 2026: 19,314 to 21,596 (+11.8%).
March 2025 to March 2026: 23,483 to 21,596 (-8.0%).
New Listings increased notably from February to March 2026, rising 34.9% as sellers entered the spring market. However, listing activity remains below last year’s levels, down 16.7% from March 2025. Active Listings followed a similar pattern, climbing month-over-month by 11.8% but still sitting 8.0% lower year-over-year, indicating that while inventory is building seasonally, overall supply remains more constrained than it was at this time last year.
Toronto
Average Sales Price
February 2026 to March 2026: $1,019,144 to $1,022,874 (+3.7%).
March 2025 to March 2026: $1,110,924 to $1,022,874 (-7.9%).
Average selling prices in the City of Toronto increased modestly from February to March 2026, reflecting typical seasonal momentum as the spring market begins. However, prices remain down 7.9% compared to March 2025, indicating that overall affordability has improved year-over-year and that buyers continue to have negotiating power despite recent month-to-month gains.
Total Sales
February 2026 to March 2026: 1,491 to 1,913 (+28.3%).
March 2025 to March 2026: 1,908 to 1,913 (+0.3%).
Total Sales in the City of Toronto increased by 28.3% from February to March 2026, reflecting a seasonal lift as spring market activity builds. However, on a year-over-year basis, Total Sales were essentially flat, up just 0.3% from March 2025, indicating that while activity is improving month-to-month, overall demand remains relatively stable but on the lower end.
New Listings
February 2026 to March 2026: 4,035 to 5,301 (+31.4%).
March 2025 to March 2026: 6,421 to 5,301 (-17.4%).
Active Listings
February 2025 to March 2026: 7,397 to 8,189 (+10.7%).
March 2025 to March 2026: 9,122 to 8,189 (-10.2%).
New Listings in the City of Toronto increased by 31.4% from February to March 2026, reflecting the typical seasonal rise in seller activity heading into spring. However, they’re still well below last year’s levels, down 17.4% compared to March 2025. Active Listings followed a similar trend, increasing month-over-month by 10.7% but still 10.2% lower year-over-year, suggesting that while inventory is building, overall supply remains tighter than it was a year ago.
SNLR – Sales to New Listings Ratio (February to March) – The number of Total Sales that occur (supply coming off the market) to New Listings coming on (supply coming onto the market).
GTA: 33.6% to 34.1%.
City of Toronto: 34.3% to 34.9%.
= Buyer’s Territory
40-60% indicates a balanced market, and under 40% is buyer’s market territory. We’ve been in this range in the GTA since August 2023. Overall, buyers currently have more leverage and opportunities than sellers.
Outlook
If these trends continue, the GTA market could move toward more balanced conditions through the remainder of 2026, with prices stabilizing and sales activity gradually improving. However, sustained recovery will depend on broader economic confidence and the ability to bring new housing supply to market, particularly in segments that bridge the gap between condominiums and low-rise homes.
Are you waiting for the summer months to get into the market? I can help guide you on whether that’s your best option.
Thinking of moving to the next stage? Let’s chat. Send me an email (hillary@hillarylane.ca) or text/phone (416-882-4707).
