No dense reports. No confusing charts. Just a clear, honest answer to one question: what is the GTA housing market doing right now — and what does it mean for you?
Monthly Report
Here's what's actually happening in the GTA housing market this month — in plain language anyone can understand.
Data sourced from GTA-wide market activity including Toronto, Mississauga, Brampton, Vaughan, Oakville, Richmond Hill, Markham and surrounding areas. Updated every month.
The Greater Toronto Area housing market in May 2026 showed improved buyer conditions compared to last year. Home sales increased by 6.3% to 6,583 transactions while new listings declined by 18.9% to 17,698, yet buyers maintained substantial negotiating power. The average selling price of $1,069,700 was down 4.6% year-over-year, reflecting continued affordability improvements from both lower prices and reduced borrowing costs.
If you're buying now, you have time and choice on your side with homes averaging 27 days on market and selling at 98% of asking price, giving you room to negotiate. For sellers, the market is showing signs of stabilization with monthly sales up 10% from April, suggesting that pricing competitively and preparing your home well will attract the buyer demand that is returning to the market.
Detached homes sold for an average of $1,358,131 in May 2026, down 4.7% from last year, with 3,236 sales across the region. These homes spent an average of 25 days on market and sold at 98% of asking price, indicating balanced negotiating conditions for buyers.
Townhouse prices averaged $840,608 in May 2026, declining 7.1% from the previous year with 1,114 sales reported. This segment saw homes sell at 100% of asking price after 24 days on market, showing competitive conditions for well-priced properties.
Condominium apartments averaged $639,468 in May 2026, down 6.4% year-over-year, with 1,535 transactions across the GTA. Condos took 34 days to sell on average and sold at 97% of asking price, giving buyers the most negotiating leverage among all property types.
🏠 Buying? Take advantage of current market conditions by viewing multiple properties and negotiating confidently, as homes are selling at 98% of asking price with 27 days on market. Get pre-approved for a mortgage to understand your budget and move quickly when you find the right property, as sales momentum is building.
🏷️ Selling? Price your home competitively based on recent comparable sales in your neighbourhood, as the market favours realistic pricing with homes taking 27 days to sell. Consider preparing your home with minor updates and professional staging to stand out among the 26,927 active listings competing for buyer attention.
📬 This report updates every month automatically. Bookmark this page to stay informed.
Data represents GTA-wide market activity. Statistics sourced from publicly available market data across the Greater Toronto Area. Powered by Quantos Market Intelligence.
Market Condition
Our Market Action Index answers the most important question in real estate right now — who has the advantage this month?
Buyers continue to hold negotiating power in May 2026 with homes selling at 98% of asking price and spending 27 days on market. With 26,927 active listings and a sales-to-new-listings ratio of 36%, buyers have substantial choice and room to negotiate.
Free Tools
Run the numbers before you make your move. All calculators are free, instant, and built for Canadian buyers.
Calculate your estimated monthly mortgage payment based on home price, down payment, and interest rate.
Find out how much home you can afford based on your annual income and monthly expenses.
Ontario charges land transfer tax on every home purchase. Toronto buyers pay it twice. Calculate your exact amount.
If your down payment is less than 20%, you'll pay CMHC mortgage insurance. Find out exactly how much.
Is it cheaper to rent or buy in the GTA right now? Run the numbers for your specific situation.
Beyond the purchase price, how much should you budget for closing costs in Ontario? Get a realistic estimate.
Current Rates
The Bank of Canada's rate decisions directly affect your mortgage payments. Here's where rates stand today.
The next Bank of Canada rate announcement is scheduled for June 4, 2026. Economists expect the Bank to hold at 2.25% as inflation remains near the 2% target, keeping borrowing costs stable for buyers.
First Time Buyer Guide
Never bought a home before? Here's everything you need to know about the process in plain language.
Before you start looking at homes, visit a bank or mortgage broker to get pre-approved. This tells you exactly how much you can borrow and makes your offer more competitive. Pre-approval is free and takes about 1-2 days.
In Ontario, working with a buyer's agent costs you nothing — the seller pays the commission. Under the new TRESA rules, your agent must represent your interests exclusively. Interview 2-3 agents before choosing one.
The purchase price is just the beginning. Budget for land transfer tax, legal fees (~$2,000), home inspection (~$500), title insurance (~$300), and moving costs. In Toronto, land transfer tax alone can add $20,000+ to your costs.
Your agent submits a written offer with a price, deposit (usually 5% due within 24 hours of acceptance), and conditions. Common conditions include financing and home inspection. In a buyer's market like now, conditions are more accepted.
Always get a home inspection. A licensed inspector checks the structure, roof, electrical, plumbing, and HVAC. Cost is ~$500 but can save you from buying a home with $50,000 in hidden problems. Never waive this in a buyer's market.
Usually 60-90 days after your offer is accepted. Your lawyer handles the paperwork, you pay the remaining down payment and closing costs, and you get your keys. The whole process from offer to closing typically takes about 2-3 months.
Latest News
The latest headlines from trusted Canadian real estate sources — updated automatically.
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