Spring has arrived in the Greater Toronto Area, and so has the seasonal pickup in real estate activity. Here's a snapshot of where the market stands heading into the most active months of the year.
Where Prices Stand Now
After a relatively flat winter, the average home price across the GTA has begun to firm up again. Detached homes in 905 areas like Mississauga and Brampton are seeing renewed interest, while Toronto condos remain price-sensitive but well-supplied.
Inventory Is Climbing
Spring traditionally brings a wave of new listings. So far this season:
- New listings are up across most GTA submarkets vs. February
- Days-on-market are slowly trending down on well-priced homes
- Multiple-offer scenarios are returning — but only on the most desirable properties
What It Means for Buyers
This is one of the more balanced markets we've seen in years. You have more selection than during the 2022 frenzy, and sellers are generally more open to negotiating. If you've been waiting on the sidelines, this is a good time to get pre-approved and start touring.
What It Means for Sellers
Pricing matters more than ever. Homes priced realistically (based on recent comparables, not 2022 peaks) are still selling quickly and sometimes over asking. Overpriced listings sit and accumulate days-on-market — which works against you.
Mortgage Rates & Affordability
The Bank of Canada has held rates steady, and lenders are offering competitive 3-5 year fixed-rate mortgages. If you locked in at the peak, it may be worth speaking with your broker about renewal options before your term expires.
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