GTA Market Shows Stability as Spring Activity Begins to Build

According to the latest Royal LePage market report, the aggregate price of a home in the Greater Toronto Area (GTA) decreased 4.7% year over year to $1,091,900 in the first quarter of 2026. On a quarterly basis, however, prices showed modest improvement, rising 0.7% compared to Q4 2025, suggesting early signs of stabilization.

When broken down by housing type, the median price of a single-family detached home declined 4.5% year over year to $1,382,300, while the median price of a condominium fell 6.5% to $658,000 during the same period.

The report notes that the spring market is beginning to show early momentum, with home sales in Toronto increasing modestly toward the end of the first quarter. However, price growth has remained relatively flat month to month, as elevated supply levels continue to keep market conditions balanced. The condominium segment, in particular, has seen a slight uptick in activity, largely driven by interest from first-time buyers and downsizers.

Inventory levels across the city have been trending downward, as some sellers are choosing to relist at a later date rather than accept lower offers. This behavior suggests a degree of confidence among sellers, but it has also contributed to slower transaction activity, as both buyers and sellers wait for more favourable market conditions.

Uncertainty surrounding interest rates has also influenced buyer behaviour. Some first-time buyers have recently entered the market to secure mortgage rates before pre-approvals expire, particularly as fixed mortgage rates have edged higher alongside rising bond yields.

Within the City of Toronto, the aggregate home price decreased 4.8% year over year to $1,070,600 in the first quarter of 2026. The median price of a single-family detached home declined 9.7% to $1,528,900, while the median condominium price decreased 3.8% to $660,600.

Looking ahead, the real estate brokerage indicates cautious optimism for the remainder of the year. While many buyers are actively researching options, fewer are making aggressive offers at this time. Potential interest rate changes and broader economic concerns—such as job security—continue to influence buyer confidence.

The report indicates taht the brokerage forecasts that the aggregate price of a home in the Greater Toronto Area will decrease 4.5% year over year by the fourth quarter of 2026, compared to the same period in 2025.

Source: Royal LePage