March 2026 Real Estate Market Update

Home sales in the Greater Toronto Area picked up in March to kick off the spring market, yet they were still well below typical levels for the time of year.

Just over 5,000 properties traded hands — up 30% from February and slightly above March 2025. However, this is 44% under the long-term average.

The average sale price also climbed month-over-month, rising to $1,017,796. While this marks a 4.5% increase since the beginning of the year, prices remain 7% below March 2025, and have fallen back beneath levels recorded in early 2021.

The detached segment recorded an average sale price of $1,342,375, representing a 2% increase month-over-month, while standing 7% lower than the same time last year. Inventory levels rose again, surpassing 9,000 active listings — up 15% from February. Sales activity strengthened, increasing 32% month-over-month and posting a modest 4% gain compared to March 2025.

Townhome prices have remained relatively stable over recent months, with an average sale price of $931,740 in March. Active listings were up 10% month-over-month, while down 16% compared to March 2025. Sales activity rose, marking a 36% monthly increase and matching levels recorded in the same month last year.

The semi-detached segment saw the average sale price drop 1.9% from February to $1,008,246. Inventory levels remain elevated, up 16% month-over-month, though 6% lower than March 2025. Sales reached 442 transactions, reflecting a 33% monthly increase.

The condominium market continues to face elevated supply levels. Active listings are sitting 93% above the 10-year historical average, despite an 11% year-over-year decline. While prices have recovered slightly from January lows, they are still under pressure. The average sale price of $620,479 is back to levels seen in early 2021. Sales improved from February — up 30% to 505 transactions. This is in line with March 2025 totals.

Overall, March delivered a seasonal lift in both prices and sales activity, but the GTA housing market remains heavily influenced by elevated inventory levels — 69% above the 10-year average — and below-average demand driven by economic uncertainty, as well as a mid-month jump in fixed mortgage rates tied to inflation following a spike in oil prices. A more meaningful recovery will likely depend on a sustained improvement in consumer confidence. Until then, the market is expected to remain well supplied, with pricing trends stabilizing rather than accelerating as we move further into the spring market.

If you would like to know how the real estate market specifically performed in your neighbourhood, contact Clare Tattersall at 647-625-3282 or clare@realtorontowest.com.