Greater Toronto Area home sales rose for the third straight month in May, even as prices continued to fall, according to the Toronto Regional Real Estate Board.
The board reported 6,583 home sales across the region last month, up 6.3 per cent from May 2025. On a seasonally adjusted basis, sales also climbed 10 per cent from April, pointing to stronger buyer activity heading into the summer market.
GTA Home Prices Fall Year Over Year
Despite higher sales, home prices remained lower than last year. TRREB said the average selling price in May was $1,069,700, down 4.6 per cent year-over-year.
The composite benchmark price, which reflects the price of a typical home, dropped 6.7 per cent from May 2025.
TRREB chief information officer Jason Mercer said prices could begin to rise later this year if sales keep strengthening compared with listings. For now, he said buyers still have “substantial negotiating power.”
New Listings And Inventory Decline
The GTA market also saw fewer homes listed for sale in May. TRREB said 17,698 new listings came onto the market, down 18.9 per cent from a year earlier.
Total active listings also fell 13.3 per cent to 26,927 properties.
The drop in listings, paired with stronger sales, suggests the market tightened in May. Buyers still have room to negotiate, but lower inventory could shift conditions if demand continues to build through the second half of the year.
