Here’s a sentence I haven’t said in a while: Homeownership in the GTA is starting to feel a little more affordable. I know—cue the surprised gasp. But it’s true!

Compared to this time last year, both home prices and borrowing costs have come down, which means monthly mortgage payments are finally getting a bit more manageable for buyers. And with a few more interest rate cuts expected this spring, things might get even better (finally, some good news for your wallet!).

Another silver lining? Inventory is up—giving buyers more choice and more negotiating power. Combine that with growing confidence in the economy and job security, and we’re likely to see a bump in home-buying activity as we head into the warmer months.

That said, there’s still a little hesitation in the air. Jason Mercer, TRREB’s Chief Market Analyst, points out that ongoing global trade uncertainty and the looming federal election are making some folks take a cautious, “wait-and-see” approach. Totally understandable—after all, buying a home is a big decision, and people want to feel good about where their job and the economy are headed before jumping in.

Here’s a quick snapshot of what happened in March:

• 5,011 homes sold across the GTA — that’s down 23.1% from March 2024
• Average price: $1,093,254 (down 2.5% year-over-year)
• Active listings are up 9.4%, which means more supply and softer prices

And if you’ve been keeping an eye on the condo market, you’ve probably noticed it’s cooled down quite a bit. A record number of new units are hitting the market this year, and that’s led to a 25% drop in condo sales volume and a small dip in prices (down 2.6%). For savvy buyers, this could be a golden opportunity in the resale condo space.

So, what does all this mean for you? Whether you’re thinking about upsizing, downsizing, or just want to talk strategy over a coffee, we’ve got your back. We are always here to answer questions, offer advice, or just chat about the market (and maybe swap some good recipe ideas while we’re at it).