The GTA housing market continued to shift in March as we moved into the spring season. Sales activity picked up compared to last year, while new listings declined, tightening overall market conditions.
Home sales reached 5,039, up 1.7% year over year. At the same time, new listings dropped 16.7% to 14,442. This imbalance is an early sign that the market may be moving toward more competitive conditions.
Despite this, affordability remains improved compared to last year. The average selling price came in at $1,017,796, down 6.7%, while benchmark prices declined 7.4%. Month over month, prices have remained relatively stable, suggesting we may be nearing a pricing floor.
From a practical standpoint:
Buyers still have negotiating room, but that advantage is narrowing
Sellers are facing less competition due to fewer listings
Market direction is pointing toward stabilization if current trends continue
Looking ahead, continued supply constraints combined with steady demand could lead to more balanced conditions and firmer pricing as we move through 2026.
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