Home sales across the Greater Toronto Area (GTA) rose 6% year-over-year in May as moderating prices attracted buyers heading into the busy summer sales season.
May was the third consecutive month of higher home sales in Toronto, Canada’s largest housing market.
A total of 6,583 homes in Greater Toronto changed owners during May, up 6.3% compared with May 2025, and up 10% from April of this year.
The sales increase comes as prices for homes in Toronto continue to pullback, with the average selling price down 4.6% year-over-year at $1.07 million.
The composite benchmark home price, which represents the typical house for sale, was down 6.7% in May of this year.
The Toronto Regional Real Estate Board says that buyers in Toronto continue to have “substantial negotiating power” in the current market.
There were 17,698 new listings on the Toronto market in May, down 18.9% from last year.
Inventory decreased 13.3% as there were 26,927 total active listings in the region in May.
