The latest numbers from the Toronto Regional Real Estate Board show a market that has clearly slowed compared to last year. In March, there were 5,039 home sales across the GTA, up 1.7% year over year. At the same time, new listings dropped to 14,442, while the average price came in at $1,017,796, down 6.7%.
On paper, that sounds like a softer market. In practice, especially in Central Toronto, we are seeing a shift in behaviour.
Buyers are watching the market closely, taking more time, and being more selective about what they pursue. Some homes sit. Others move quickly. The difference is pricing, condition and location. After years of rapid appreciation, pricing is resetting to reflect today’s market. The gap between expectation and reality has narrowed.
The Bigger Story:
One of the most important pieces of this report is what is happening with listings. Fewer homeowners are choosing to sell right now. In Central Toronto, this matters.
Even though there are fewer buyers transacting, there are also fewer homes to choose from. Buyers are selective, but when a well-executed property comes to market, it stands out.
We are seeing:
- strong interest on well-prepared homes
- hesitation on anything that feels overpriced
- buyers willing to wait, but not willing to compromise
Looking Ahead:
TRREB is pointing toward improving conditions as the year goes on. As borrowing costs stabilize, more buyers are expected to step back in. If listing supply stays tight, that could shift the pace of the market fairly quickly.
Final Thoughts:
For buyers, there is more room to negotiate than we have seen in some time, but the best opportunities still require quick decisions. For sellers, success comes down to positioning. Pricing, presentation and timing make a huge difference.
People still really want to be in Central Toronto, that hasn’t changed. Buyers are being more considerate about how and when they make a move.
If you’re planning a move in 2026, the right strategy matters more than ever. Reach out to discuss how to position yourself in today’s market. clientcare@lomeirwin.com