May 2026 added another constructive month to the GTA housing story. Prices rose again, sales strengthened, and inventory, while still elevated by historical standards, continued to tighten compared to last year. That combination points to a market that is regaining momentum without losing the selection and negotiating room buyers have had through much of this year.
The average selling price in May came in at $1,069,700, up 1.69% from April and now $96,411 above the January low. It was the fourth consecutive monthly increase and the highest average sale price since June 2025. Sales rose to 6,583, up 11% month over month, making May the strongest month for sales since October 2024. Active listings reached 26,927, up 7% from April, but still 13% lower than May 2025. Compared with historical norms, inventory remains elevated, sitting about 53% above the average level for the month of May, but that gap has narrowed from the 60%+ readings we saw earlier this year.
That matters because it tells us two things at once. First, buyers still have options. Second, the supply picture is not as loose as it was a few months ago. More homes are selling, prices have now risen for four straight months, and the year-over-year inventory decline suggests some of the excess supply is being absorbed.
The detached segment stayed active and relatively firm. The average detached sale price in May was $1,358,131. That was down 1% from April, but still part of a broader recovery after gains in each of the three prior months. Sales rose to 3,236, up 17% month over month and 8% year over year. Active detached listings finished the month at 12,255, up 10% from April but 11% lower than last year. This was the first month detached sales moved above the 3,000 mark since June 2025.
Condo prices were steadier. The average condo apartment sold for $639,468 in May, essentially flat from April but still about 6% lower than a year ago. Active condo listings totalled 8,704, up 4% month over month but 17% lower than last year. Every month of 2026 has produced a year-over-year decline in total active condo inventory. Sales came in at 1,535, a modest 1% monthly decline. That keeps condos in the position of offering buyers real choice, but with signs that supply is no longer building the way it was last year.
Townhomes softened a little on price. The average townhome sale price in May was $916,474, down 2% from April and the third-lowest average townhome price since 2021. Active townhome listings rose to 1,991, up 4% month over month, while still 13% lower than a year ago. Sales increased to 663, up 17% from April.
Semi-detached homes saw the strongest monthly price gain. The average semi-detached sale price reached $1,067,672, up 3% from April. Active listings rose to 1,452, up 10% month over month but 14% lower than last year. Sales increased to 608, up 8% from April.
In West Toronto and South Etobicoke, this likely means the market is becoming firmer, but not indiscriminate. Well-positioned properties should continue to attract attention, especially when value is clear and the pricing reflects current conditions. Buyers are still comparing carefully, especially in the condo segment, where building quality, monthly fees, reserve funds, and overall carrying costs remain central to the decision. That local read is an inference from the broader GTA data and the segment trends Royal LePage highlighted.
The broader takeaway from May is encouraging. Prices have now risen for four straight months, sales are improving, and year-over-year inventory is moving lower across all major property types. Buyers still have meaningful negotiating power, but the market is no longer as soft as it felt earlier in the year. As we head into summer, the GTA is showing a firmer pricing backdrop and gradually tightening inventory conditions than we saw at the start of 2026.
Whether you're buying, selling, or planning your next move, I’m here to help you navigate the market with clarity, strategy, and a clear understanding of your options.
Luba Beley, BROKER
📩 Luba@LubaBeley.com
📞 416-419-5226
📍 Serving Toronto, Etobicoke, and the GTA West