Buildings For Sale Toronto

TRREB May 2026 numbers are out — and the GTA resale market is tightening, but prices are still falling.

Sales: 6,583 — up 6.3% YoY New listings: 17,698 — down 18.9% YoY Active listings: 26,927 — down 13.3% YoY Average price: $1,069,700 — down 4.6% YoY HPI Composite benchmark: $946,500 — down 6.68% YoY

The sales-to-new-listings ratio sits at 35.7% — still buyer's market territory. Days on market are rising. Condo apartments are taking the hardest hit — down 9.12% on the HPI benchmark, with 416 condos now averaging less than 905 condos ($573,531 vs $639,468).

The honest read: fewer sellers are listing, which is tightening the market mechanically. But it's not demand-driven. Prices haven't responded — and won't until the sales-to-listings ratio sustainably clears 40%.

Finding a floor. Not a launch pad.

CIBC is forecasting 1% real GDP growth for Ontario in 2026 — the weakest of any major province. Population declined 0.7% year-over-year in Q1. Non-permanent residents still make up 6% of Ontario's population, above the national average, with further declines expected as study and work permits expire. Discretionary spending is under pressure from mortgage renewals and housing price weakness. The 2027 recovery thesis is real — CIBC forecasts a sharp rebound in Ontario per-capita housing starts — but it's conditional on trade clarity and geopolitical resolution. For rental investors, the near-term picture is soft demand and a frozen supply pipeline. That combination doesn't stay balanced forever.