March 2026
The Greater Toronto Area housing market showed signs of tightening in March 2026, as sales increased while new listings declined. This shift points to improving demand alongside a shrinking supply of available homes.
Home sales reached 5,039, up 1.7% compared to March 2025 and higher than February levels. This suggests that more buyers are beginning to re-enter the market as affordability improves.
At the same time, new listings fell by 16.7% year-over-year to 14,442. With fewer properties being listed, the supply of homes is tightening, which could lead to increased competition if the trend continues.
Prices remained below last year’s levels. The average selling price was $1,017,796, down 6.7% year-over-year, while the benchmark price declined by 7.4%. On a month-over-month basis, prices were relatively stable, indicating that the market may be starting to level out.
For now, buyers continue to benefit from some negotiating power due to lower prices. However, if sales continue to rise and listings remain limited, market conditions could shift quickly, leading to more competition and stabilizing prices.
Overall, March signals a market in transition, with strengthening demand, limited supply, and early signs of stabilization as the spring market gets underway.
Sources & Notes
i - Statistics Canada, Quarter-over-quarter growth, annualized.
ii - Statistics Canada, Year-over-year growth for the most recently reported month.
iii - Bank of Canada, Rate from most recent Bank of Canada announcement.
iv - Bank of Canada, Rates for most recently completed month.
v - Information supplied by TRREB
