May Toronto Real Estate Market Update

Hi there!

I hope you all are enjoying the great spring weather and are as excited for the World Cup as I am! ⚽️

But if sports are not your thing, there are other things to be excited about in Toronto right now because after a strong April, May kept the momentum going as the real estate market saw sales in the freehold market increase again, and prices in both condo segments rise.

In general, more listings came to market, more buyers showed up, sales climbed across most property types, and homes kept moving quickly. May felt like a proper Toronto spring market. Not chaotic, not overheated, just busy in the right way.

Here's what actually caught my attention this month: it wasn't the prices. Those were a bit of a mixed bag depending on property type, which isn't unusual. What stood out was how much activity there was.

Inventory kept growing but buyers kept buying. That matters. It tells you demand isn't disappearing just because more listings are showing up. If anything, buyers seem more decisive right now. When the right place comes along, people are moving on it and sales are happening.

Before we get into the numbers...

One thing I always tell clients: don't get too hung up on any single stat or headline. The real picture comes from looking at everything together.

This month? Listings were up. Sales were up. Days on market improved in most categories. Prices were mixed, but activity was strong across the board.

Put it all together and you've got a market that's gaining real traction. Not one where buyers are scrambling for everything that hits MLS, but not one where sellers are sitting and waiting either.

More on the numbers below...

📊 NEW LISTINGS — MAY 2026

Detached listings increased from 1,939 to 2,092 this month, a 7.9% increase.

Semi-detached listings increased from 462 to 513, up 11.0%.

Freehold townhome listings climbed from 200 to 224, a 12.0% increase.

Condo townhome listings increased from 451 to 494, up 9.5%.

Condo apartment listings dipped slightly from 3,046 to 3,032, down 0.5%.

Key Takeaway:

New listings remained strong throughout May, continuing the trend we saw in April. More sellers entered the market, giving buyers additional choice, while condo apartment listings appeared to level off after several months of growth.

📊 ACTIVE LISTINGS — MAY 2026

Detached active listings increased from 2,463 to 2,768 this month, a 12.4% increase.

Semi-detached active listings rose from 489 to 520, up 6.3%.

Freehold townhome active listings increased from 235 to 270, a 14.9% increase.

Condo townhome active listings climbed from 688 to 786, up 14.2%.

Condo apartment active listings increased from 5,315 to 5,490, up 3.3%.

Key Takeaway:

Inventory continued building across every property type in May. Buyers continue benefiting from increased selection, particularly in the condo market, while sellers are facing more competition than they did earlier in the spring.

📊 SALES — MAY 2026

Detached sales increased from 770 to 846 this month, a 9.9% increase.

Semi-detached sales climbed from 237 to 283, up 19.4%.

Freehold townhome sales increased from 88 to 93, a 5.7% increase.

Condo townhome sales decreased from 142 to 129, down 9.2%.

Condo apartment sales dipped slightly from 1,054 to 1,009, down 4.3%.

Key Takeaway:

Sales remained strong throughout May, particularly in the detached and semi-detached segments. While condo sales softened slightly month-over-month, overall buyer activity remained healthy and continued absorbing a large portion of the new inventory entering the market.

📊 AVERAGE PRICE — MAY 2026

Detached prices decreased from $1,668,973 to $1,610,998 this month, a 3.5% decline.

Semi-detached prices increased from $1,286,166 to $1,293,268, up 0.6%.

Freehold townhome prices decreased from $1,284,386 to $1,112,188, a 13.4% decline.

Condo townhome prices increased from $755,780 to $839,926, up 11.1%.

Condo apartment prices increased from $665,507 to $673,841, up 1.3%.

Key Takeaway:

Prices were mixed across property types in May. Detached and freehold townhome prices pulled back, while both condo categories posted gains. This highlights the importance of looking beyond city-wide averages, as different segments of the market are moving in very different directions.

📊 DAYS ON MARKET BEFORE SOLD — MAY 2026

Detached homes sold slightly faster this month, with days on market dropping from 22 to 21 days, a 4.5% decrease.

Semi-detached homes improved from 18 to 17 days on market, down 5.6%.

Freehold townhomes moved from 15 to 20 days on market, increasing 33.3%.

Condo townhomes sold faster, dropping from 30 to 27 days on market, a 10.0% improvement.

Condo apartments improved from 37 to 33 days on market, down 10.8%.

Key Takeaway:

Most property types continued selling quickly in May, with detached homes, semis, and both condo categories seeing improvements. The only exception was freehold townhomes, which spent slightly longer on the market compared to April. Overall, the numbers suggest buyers remained active despite the growing inventory levels.

Ok! That's it for now. Thanks for reading and have a great day! 👋 - Tyson CR

‍‍Want to know what the current value of your home is or what's going on in your neighbourhood?

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After all, everyone’s individual situation requires an individual and unique strategy and plan.

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