Toronto Housing Market Report
- The Greater Toronto Area's benchmark home price for April 2026 was $944,100, down 6.6% year-over-year (YoY) and up 0.2% month-over-month (MoM).
- The average home sold price in the GTA decreased 5.0% year-over-year to $1,051,969 for April 2026.
- Detached home average price decreased by 4.1% year-over-year to $1.37M.
- Semi-detached home average price decreased by 5.1% year-over-year to $1.03M.
- Freehold townhouse average price decreased by 6.6% year-over-year to $939k.
- Condo apartment average price decreased by 6.3% year-over-year to $636k.
Greater Toronto Area (GTA) Housing Market Overview
GTA Housing Market: Price Movements for April 2026
Benchmark Home Price | $944,100 | +0.2% 1-Month Change | -6.6% 1-Year Change |
Average Home Price | $1,051,969 | +3.4% 1-Month Change | -5.0% 1-Year Change |
Median Home Price | $880,000 | +1.1% 1-Month Change | -7.4% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
As of April 2026, the GTA housing market moved into a stronger spring phase, but the numbers still point to a cautious recovery rather than a full reset. The benchmark price, which measures the price of a ‘typical’ home, increased 0.2% month-over-month to $944,100, while remaining 6.6% below April 2025. That combination suggests price declines are moderating, but the market has not erased the weakness that built through 2025.
The average GTA home sold price rose 3.4% monthly from March 2026 to $1,051,969, and the median price rose 1.1% monthly to $880,000. Both monthly increases were stronger than in March 2026, and the April 2026 average was meaningfully above the $1 million mark again. Even so, average and median prices were still down 5.0% and 7.4% year-over-year, respectively, so sellers are not operating in the same environment as a year ago.
The demand side improved. GTA sales increased to 5,946 in April 2026, up 18.0% from March 2026 and 6.2% above April 2025. That is a more encouraging result than the price data alone would imply, particularly because spring activity improved despite affordability remaining stretched.
Supply is the key reason the market still looks balanced. Active listings rose 16.3% month-over-month to 25,110, although they were 8.3% lower than in April 2025. New listings also increased to 17,097, up 18.4% from March 2026 but down 9.2% year-over-year. The sales-to-new-listings ratio was 34.8%, nearly unchanged from March 2026’s 34.9%, which means new demand and new supply advanced at a similar pace.
At 4.2 months of supply, the GTA remained in balanced-market territory. Conditions are tighter than April 2025, when months of supply were 4.9, but not tight enough to force broad-based price growth. The main takeaway is that buyers are more active, yet they still have enough choice to resist aggressive seller pricing.
Lower borrowing costs have helped bring some buyers back into the market, but the affordability math remains difficult. The April 2026 data is best read as a better bid from buyers rather than a seller-driven market. Households are willing to transact, but only when prices and financing conditions line up.
City of Toronto
The City of Toronto improved more clearly in April 2026 than it did in March 2026. The average price rose 6.7% month-over-month to $1,091,761, while the benchmark price increased 0.5% to $934,900. The City of Toronto’s median home price rose 5.5% monthly to $838,750. Unlike March 2026, when the median price softened even as the average rose, the April data showed monthly improvement across all three price measures. That suggests the rebound was not purely due to a more expensive sales mix.
On an annual basis, prices are still down. Toronto's average price was 4.6% lower than in April 2025, the benchmark price was down 5.2%, and the median price was down 9.8%. The City remains more affordable than it was a year ago, but monthly momentum has improved.
Sales in the City of Toronto reached 2,312, up 20.9% from March 2026 and 8.6% year-over-year. Active listings increased 13.1% month-over-month to 9,260 but were still 12.3% below April 2025. New listings rose to 6,136, up 15.8% monthly and down 13.6% annually. Toronto's SNLR improved to 37.7%, which is still balanced but clearly firmer than April 2025's 30.0%.
The better tone in the City of Toronto matters because it suggests end-user demand is not limited to lower-priced outer-suburban markets. That said, affordability and financing constraints still make buyers sensitive to listing strategy.
Property Types
Average prices remained below April 2025 levels across most major property types, but April 2026 was a better month for resale activity than March 2026.
Detached homes averaged $1,372,688, up 2.3% month-over-month but down 4.1% year-over-year, with 2,759 sales, up 23.4% from March 2026 and 7.9% above April 2025. Detached was the clearest source of strength in April 2026, and because detached homes carry a higher price point, this segment likely helped lift the GTA-wide average.
Semi-detached homes averaged $1,033,469, up 2.5% month-over-month but down 5.1% year-over-year, with 563 sales, up 27.4% from March 2026 and down 0.4% annually. The price gain was notable, but the flat sales comparison suggests buyers are still cautious in the middle of the market.
Freehold townhomes averaged $939,197, up 0.8% month-over-month but down 6.6% year-over-year, with 566 sales, up 12.1% from March 2026 and down 0.9% from April 2025. This segment continues to look more stable than strong, with demand improving but prices still under pressure compared with last year.
Condo apartments averaged $635,653, up 2.4% month-over-month but down 6.3% year-over-year, with 1,553 sales, up 9.2% from March 2026 and 8.6% above April 2025. Condo sales are recovering, but annual price declines show that buyers still have bargaining power in the most affordability-sensitive segment.
Condo townhomes averaged $704,847, down 4.7% month-over-month and 10.1% year-over-year, with 419 sales, up 12.9% from March 2026 and 1.7% above April 2025. This was the weakest major segment on price, likely reflecting both buyer caution and a shift in sales mix.
Overall, lower-rise homes looked healthier than condo townhomes, while condo apartments showed better sales but not enough pricing power to repair annual declines. This points to a market where end-user demand has returned faster than investor-led demand.
Looking Forward
For sellers, April 2026 is a more constructive market than the first quarter of 2026, but not one that rewards overpricing. Sales improved, and listings are lower than a year ago, yet 4.2 months of supply still gives buyers leverage.
For buyers, the window of strong selection has not closed. Inventory is higher than in March 2026, annual prices are still lower across major segments, and the average sale still came in 2% below the average list price. That’s because this month, the average sales-price-to-list-price ratio was 98%, meaning homes sold for about 2% below asking on average. The risk for buyers is that if sales keep improving while new listings remain below last year's levels, the current amount of negotiating room could narrow later in 2026.
The average property days on market was 43 days in April 2026, up from 33 days in April 2025. That combination captures the market well: activity has improved, but buyers are still taking their time and insisting on value.
Home Prices in Toronto
Greater Toronto Area Housing Market Statistics for All Property Types
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Detached Homes
Average Sold Price
Transactions
Market Overview for Semi-Detached Homes
Average Sold Price
Transactions
Market Overview for Freehold Townhouses
Average Sold Price
Transactions
Market Overview for Condo Apartments
Average Sold Price
Transactions
Glossary and Definitions
MLS® Home Price Index (HPI): Developed by the Canadian Real Estate Association (CREA), the MLS® HPI is the most advanced tool for tracking price trends in the Canadian housing market. Rather than using simple average prices, which can be skewed by the mix of homes sold in a given month, the HPI tracks the value of a "Benchmark Home"—a property with typical attributes for its specific neighborhood. This allows for an accurate "apples-to-apples" comparison of home values across different regions and time periods, independent of a property's specific features or seasonal volatility. To ensure the index remains relevant, CREA performs an annual review every May to account for evolving market dynamics.
MLS® HPI Benchmark Price: This is the dollar value assigned to a "typical" home in a specific neighborhood. While the HPI itself is an index number used to track trends, the Benchmark Price translates that data into a real-world dollar figure, representing what a standard home with average features (like square footage, rooms, and lot size) would likely sell for in today's market.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owners of the buildings have leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the Toronto Regional Real Estate Board (TRREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.