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The GTA housing market continued to tighten in May 2026, with stronger sales activity and fewer new listings compared to last year.
GTA REALTORS® reported 6,583 home sales, up 6.3% year-over-year, while new listings fell 18.9% to 17,698. This shift indicates increasing competition among buyers as available inventory is gradually absorbed.
The average selling price was $1,069,700, down 4.6% from last year, but slightly higher month-over-month, suggesting early signs of price stabilization.
Key Takeaways
- Sales are improving compared to last year
- Listings are down, tightening inventory
- Prices are still lower year-over-year but stabilizing month-to-month
- Buyer competition is increasing in select neighbourhoods
Outlook
Market conditions are expected to continue tightening. If this trend continues, prices are likely to stabilize and gradually strengthen into 2027 as demand improves.
If you would like a personalized update on your home’s value or neighbourhood trends, feel free to reach out anytime.
Rosy Zheng
Real Estate Broker
