The Toronto Housing Market Just Surprised Me (LIVE)

About this video

In this May 2026 livestream, Tom reviews the April 2026 Toronto housing numbers, shares what his team is seeing on the ground, and answers viewer questions about condos and preconstruction. It helps buyers and sellers understand why the numbers looked slightly more positive and how different property types were behaving.

Key points

• For April 2026, Tom reported about 6,000 sales across the Toronto Regional Real Estate Board area, up 7% from April 2025, while new listings were down 9.3% (the fourth straight monthly drop) and the average price was down about 5%.
• The city of Toronto had about 9,260 active listings and 2,312 sales, roughly four months of inventory, the lowest Tom had seen in a while. He describes that level as one where prices tend not to move much either way.
• Tom says buyer type drives demand: upsizers want freehold homes in good neighbourhoods, which are in short supply, and downsizers want large condos of 1,500 square feet or more in established buildings. Both were selling well.
• About 65% of Toronto listings carried condo fees, while only about 3,000 freehold homes were for sale. Tom expected condo prices to bottom out sometime in 2027 or early 2028.
• On preconstruction, Tom said the HST change helped developers clear leftover units, but most leftover inventory was still not a better deal than resale, so he did not expect it to push resale prices down much.

Questions answered in this video

Why were Toronto home sales up in April 2026?

Tom pointed out that April 2025 was a weak comparison, because tariff fears had pushed consumer confidence very low. Sales were up 7% year over year, but about 6,000 sales was still one of the lowest Aprils in decades.

When will Toronto condo prices bottom out?

In this May 2026 livestream, Tom said condo prices were not close to bottoming yet. His guess was sometime in 2027 or early 2028, followed by slow upward pressure on good units, with prices in 2030 not much higher than in 2026.

Is buying leftover preconstruction condo inventory a good deal?

Tom says some leftover units are selling well below original prices, and the HST change helps. Still, his team found only a few projects worth considering, as most still carry a premium per square foot and for parking. It can appeal to first time buyers who want to move into a new building right away.

Related: Toronto real estate market updates | Toronto condo specialist | Upsizing in Toronto