Greater Toronto home sales up 6% in May as prices fall: real estate board

The Toronto skyline on Friday, May 8, 2026. THE CANADIAN PRESS/Sammy Kogan

TORONTO — The Greater Toronto Area marked its third straight month of higher home sales compared with a year earlier, as the city’s real estate board says the market tightened in May.

A total of 6,583 homes in the region changed hands last month, up 6.3 per cent compared with May 2025, while sales also increased 10 per cent from April on a seasonally adjusted basis.

The Toronto Regional Real Estate Board says the average selling price was down 4.6 per cent year-over-year to $1,069,700, and the composite benchmark price, meant to represent the typical home, was down 6.7 per cent.

TRREB chief information officer Jason Mercer says selling prices could start to grow in the back half of the year if sales continue to strengthen relative to listings, but buyers have “substantial negotiating power” for now.

There were 17,698 new listings on the market in May, down 18.9 per cent from last year.

Inventory decreased 13.3 per cent as there were 26,927 total active listings in the GTA.

This report by The Canadian Press was first published June 3, 2026.

Sammy Hudes, The Canadian Press