Market Watch March 2026: Spring Buyers Return as Supply Tightens 🌷

The spring real estate market is officially here, and buyers in the Greater Toronto Area (GTA) are springing into action. After a sluggish winter, we are finally seeing an uptick in activity as households look to take advantage of improved affordability.

According to the latest TRREB data, March 2026 brought 5,039 home sales, representing a 1.7% increase compared to March 2025. However, the most critical storyline is the tightening of supply. New listings dropped sharply by 16.7% year-over-year, with only 14,442 properties entering the market.

The average selling price across the GTA is holding steady at $1,017,796. While this is still down 6.7% compared to last year, TRREB’s Chief Information Officer noted that if market conditions continue to tighten, selling prices could start leveling off through the remainder of 2026. Buyers currently have substantial negotiating power, but with sales rising and new listings falling, that window may not stay open forever.

Here is your deep dive into how the 416 (City of Toronto) and 905 (Suburban GTA) markets performed by property type in March 2026.

🏡 Detached Homes

The detached market remains the powerhouse of GTA real estate, and we are seeing a noticeable surge in suburban activity as buyers stretch their legs (and their dollars) outside the city limits.

• 416 (Toronto Core)

  • Sales: 574 transactions (Up 1.4% year-over-year).

  • Average Price: $1,613,066 (Down 6.4% year-over-year).

• 905 (GTA Suburbs)

  • Sales: 1,661 transactions (Up 6.5% year-over-year).

  • Average Price: $1,248,832 (Down 6.1% year-over-year).

The Market Vibe: The 905 is leading the charge in sales growth. With average prices down over 6% in both the 416 and 905, buyers are seizing the opportunity to lock in detached homes at a discount before the market fully rebounds.

🏘️ Semi-Detached Homes

Semi-detached homes are the ultimate "missing middle" housing, but the story this month is all about a severe lack of inventory in the city core.

• 416 (Toronto Core)

  • Sales: 170 transactions (Down a massive 17.9% year-over-year).

  • Average Price: $1,231,967 (Down 8.0% year-over-year).

• 905 (GTA Suburbs)

  • Sales: 272 transactions (Up 1.5% year-over-year).

  • Average Price: $868,421 (Down 7.6% year-over-year).

The Market Vibe: The nearly 18% drop in 416 semi-detached sales isn't necessarily a lack of demand—it's a lack of supply. Sellers are holding onto these prized properties. Meanwhile, the 905 continues to offer incredible value, with semis trading well under the $900k mark.

🏙️ Townhouses

Townhomes are experiencing a fascinating shift, with urban buyers fiercely competing for freehold alternatives, while the suburban townhouse market remains a bit softer.

• 416 (Toronto Core)

  • Sales: 207 transactions (Up a striking 13.1% year-over-year).

  • Average Price: $959,513 (Down just 1.9% year-over-year).

• 905 (GTA Suburbs)

  • Sales: 669 transactions (Down 5.5% year-over-year).

  • Average Price: $816,463 (Down 8.3% year-over-year).

The Market Vibe: City townhomes are the hottest commodity right now. A 13.1% jump in sales and only a minor 1.9% price dip proves that buyers are targeting these properties heavily. If you own a townhouse in Toronto, you are in an incredibly strong position.

🏢 Condo Apartments

The condo market continues to navigate elevated inventory levels, allowing buyers to negotiate effectively and enter the market at much friendlier price points.

• 416 (Toronto Core)

  • Sales: 951 transactions (Up 3.0% year-over-year).

  • Average Price: $648,287 (Down 9.6% year-over-year).

• 905 (GTA Suburbs)

  • Sales: 471 transactions (Down 0.8% year-over-year).

  • Average Price: $564,332 (Down 8.3% year-over-year).

The Market Vibe: With prices down roughly 8% to 10% across the board, the condo segment remains a buyer’s playground. However, the 3% uptick in 416 sales shows that savvy buyers and investors are starting to pull the trigger on these discounted units before prices potentially level off.

Final Thoughts & Recommendations

March 2026 is showing us a market that is slowly finding its footing. The combination of rising sales (+1.7%) and plunging new listings (-16.7%) is a recipe for a tighter market moving deeper into the spring.

For Sellers: Competition between buyers is going to increase if new listings continue to drop. However, buyers still expect value. Strategic pricing, exceptional marketing, and staging are crucial to standing out and securing a firm offer.

For Buyers: You currently have the upper hand when it comes to negotiating power, but you shouldn't get complacent. With sales ticking up and inventory shrinking, the deep discounts we've seen may start to vanish in the coming months.

Want a personalized pricing strategy for your property?

Let’s chat and position your home ahead of the market—not behind it.

📞 Call us at 416-886-2000 or visit gtaluxuryhomes.ca to book a consultation.