The Greater Toronto Area real estate market is showing a split story in early 2026. On one side, the broader resale market has started to tighten compared with last year, with March sales rising year over year even as new listings continued to shape buyer choice. On the other side, the condo segment remains softer, giving many first-time buyers and investors more room to negotiate.
One of the biggest reasons this matters is affordability. The Bank of Canada held its policy rate at 2.25% on March 18, 2026, which has helped keep borrowing conditions more stable than they were during the peak tightening cycle. That stability has not erased affordability pressure, but it has reduced some uncertainty for buyers who were waiting on the sidelines.
The condo market is where the pressure is most visible. TRREB reported 3,880 GTA condo apartment sales in Q4 2025, down 15% from a year earlier, while active listings were higher. The average GTA condo apartment selling price fell 5.1% year over year to $652,945, and in the City of Toronto the average was $690,607, also down from the prior year. That combination of softer prices and higher inventory has kept negotiating power in buyers’ hands.
For many households, this creates an interesting opening. Buyers who were previously priced out of low-rise homes may now look more seriously at condos, especially if mortgage stability continues and confidence improves. TRREB has also said affordability pressures are still limiting some demand, which means any rebound is likely to be gradual rather than explosive.
The key takeaway for the GTA is simple: real estate is not moving in one direction across every segment. Condos are still offering value and selection, while the wider market is beginning to show firmer conditions. For buyers, that means opportunity remains, especially in the condo space. For sellers, it means pricing and presentation matter more than ever in a market where consumers still have options.