Overall Market Overview
- Average Sale Price: $1,017,796. This is a 4.5% increase since the start of the year, though prices remain 7% below last year and sit just beneath early 2021 levels.
- Sales Volume: 5,039 transactions. Sales are up 30% month-over-month and slightly above March 2025, but they remain 44% below the long-term average.
- Active Inventory: 21,696 listings. While this represents an 8% decrease year-over-year, supply remains historically high, sitting 69% above the 10-year average.
Performance by Property Type
- Detached Homes: The average sale price was $1,342,375 (up 2% from February, but down 7% year-over-year). Sales strengthened to 2,235 transactions, while inventory rose to 9,320 active listings.
- Condominiums: Elevated supply continues to pressure pricing, bringing the average sale price to $620,479 (levels seen in early 2021). Sales improved to 1,422 units, though active listings remain 93% above the 10-year average.
- Townhomes: Pricing remained relatively stable at an average of $931,740. Sales activity matched March 2025 levels with 505 transactions, while active listings increased to 1,543.
- Semi-Detached Homes: The average sale price reported was $1,008,246. The segment saw 442 total sales and maintains an elevated inventory of 1,087 active listings.
Market Dynamics & Future Outlook
- Current Market Conditions: The market experienced a seasonal spring lift, but the gap between high supply and below-average demand continues to weigh on pricing, keeping conditions favourable for buyers—particularly in higher-density segments like condos.
- Key Drivers: Lower borrowing costs and slight improvements in affordability are beginning to encourage buyer activity.
- Looking Ahead: TRREB President Daniel Steinfeld noted that a meaningful sales recovery will rely on sustained consumer confidence, which could be bolstered by positive news on trade and geopolitical issues. Until then, expect a well-supplied market where pricing stabilizes rather than accelerates.
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