March 2026 | GTA Real Estate Market Insight

The GTA spring market began with a slower-than-usual start in March 2026, but was very similar to 2025. Sales and inventory both remained below typical spring levels, while the average price came in a tad lower than in March 2025. Still, much of the GTA is moving toward a more balanced market, and with some sellers becoming more realistic on pricing, some properties are beginning to move.

Available inventory surprisingly remained the same as in February 2026, while sales increased by an average of 30% over the previous month. This has lead to a tightening of the market in most sectors of the GTA.

NOTE: “Months of Inventory” is the ratio of active listings to homes sold in a given month. It represents how long the current inventory of homes would last, given the current sales rate and if no additional inventory were added to the market. It is the most critical indicator for determining whether a market favours buyers or sellers.

The GTA’s Detached Market Moves Into Balanced Market (Semis and Towns Heating Up)

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The detached market across the GTA has entered buyer’s

The story isn’t uniform. Durham is holding on to a balanced market, while Toronto, Peel, and York are sliding slightly deeper into buyer territory. And yet, “over asking” sales haven’t disappeared. They’ve simply become more selective, less a sign of a hot market and more a reflection of how uneven the listing pool has become.

“Over Asking” Isn’t Gone

Here’s the part that can confuse people: even in buyer-market conditions, some homes still sell over asking.

In January:

Toronto: 28% of detached homes sold over asking
Durham: 18%
York: 13%
Peel: 13%

Anecdotally, this is often driven by a wide range of listing strategies. A decent chunk of inventory is made up of sellers who are listing “just to see” if they can get a price they’d accept, which can inflate inventory with overpriced or stale listings. At the same time, move-in ready homes in strong locations with functional layouts, especially when priced below market, can still attract multiple offers. It’s not the norm across the board, but it explains why competitive outcomes still appear in certain pockets. Right now, the market is rewarding good properties that show well, not anywhere near 2022 prices, but good for the current conditions.

Semis, as usual, are better than detached homes, helped by relative affordability and a buyer pool that’s value-sensitive. In January, the semi-detached segment across the GTA sat in a balanced market, edging toward seller-friendly territory.

GTA semi-detached MOI (January 2026): ~3.2

That’s not the kind of number that sparks bidding wars everywhere, but it is the kind that keeps clean, well-priced homes moving.

Freehold towns remained balanced in January, with MOI typically hovering in the 3–4 month range, and no significant movement on prices. Multiple offers are generally uncommon, and buyers tend to have enough selection to negotiate.

Condos: Buyers Still in the Driver’s Seat

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A Little More Breathing Room for Tenants

Source: Urbanation Inc & Rentals.ca Network

In the rental market, we are seeing a bit more breathing room for tenants in Toronto. The average asking rent across all residential property types was about $2,495 in January 2026, which is down 4.6% from a year earlier. That decline has been showing up more in secondary market rentals, which includes many condo rentals, as landlords face a bit more competition and renters have more choice. The takeaway is simple: renters have a little more leverage right now, and landlords need to stay realistic on price and keep units in great shape to attract strong applications.

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If you’re planning to buy, sell, or want to understand where the GTA market is heading, I publish regular analysis based on sales, inventory, and pricing trends, not headlines.