About this video In this April 2026 video, Tom reviews the first quarter 2026 numbers for the City of Toronto housing market and shares what he is watching heading into the spring. It helps buyers and sellers understand the data behind the headlines and the seven factors Tom tracks to judge where prices may go. Key points In Q1 2026, Tom reported 4,466 sales in the City of Toronto, down...
About this video
In this April 2026 video, Tom reviews the first quarter 2026 numbers for the City of Toronto housing market and shares what he is watching heading into the spring. It helps buyers and sellers understand the data behind the headlines and the seven factors Tom tracks to judge where prices may go.
Key points
- In Q1 2026, Tom reported 4,466 sales in the City of Toronto, down 7.4% from Q1 2025, with the average price just above $1 million, down about 6.2%.
- New listings were down about 15% from the year before, which Tom sees as the one figure that may encourage people expecting a recovery.
- Tom suggests tracking new listings, active listings, months of inventory and benchmark prices in your own micro market, such as Yonge and Eglinton, rather than only citywide averages.
- He estimated in April 2026 that the price gap between a new condo and a similar 10 year old resale condo had narrowed from about 30% to about 15% after the HST removal.
- The seven factors Tom watches are population growth, economic conditions, ownership affordability, investor activity, replacement cost, housing supply and consumer confidence.
Questions answered in this video
Had Toronto home prices bottomed out by spring 2026?
In this April 2026 video, Tom said he had not seen proof of a bottom yet. Average prices for the quarter were still down about 6.2%, although some single family pockets east and west of downtown looked like they were trending up again.
What data should a seller look at before listing in Toronto?
Tom recommends looking at your specific pocket of the city and comparing the same quarter year over year: how many new listings came on, how many sold, active listings and months of inventory. He says that micro market data matters more than the overall market numbers.
Could interest rates affect the Toronto market in 2026?
Tom noted in April 2026 that fixed rates had risen above 4%, which affects affordability for first time buyers. He added that a small Bank of Canada increase would not change mortgage math much, but the news around it could affect buyer confidence.
Related: Toronto real estate market updates | Selling your home | Buying a home in Toronto
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The opinions expressed herein are solely that of Tom Storey, not Royal LePage or the TRREB and should not be misconstrued as advice or the basis of an agency relationship whatsoever. Please consult your professional advisor prior to taking action on any decisions relating to the matters discussed in these videos. This communication is not intended to cause or induce breach of an existing agency agreement. This is not financial advice.
