GTA Real Estate Market: Inventory Up, Sales Down in March

Hey there, let me share some insights on the real estate market trends we've been seeing lately. March was an interesting month, with a bit of a mixed bag situation happening. On one hand, sales took a dip, dropping by around 23% compared to last year, with only 5,011 homes changing hands. But on the flip side, we saw a surge in new listings, with nearly a 29% jump, flooding the market with options and shifting the balance in favor of buyers.

Prices also softened a bit, with the average selling price slipping to $1,093,254, down by 2.5%, and the MLS® HPI benchmark dropping by 3.8%. So, affordability is inching in the right direction, but confidence is still a bit shaky.

High borrowing costs are definitely a factor, but there's also the bigger picture to consider. Buyers are holding off, hoping for more rate cuts, but no one really knows when (or how much) they'll actually change. Inflation is still stretching household budgets thin, job security feels uncertain, and the upcoming federal election isn't exactly calming any nerves. Throw in cross-border trade tensions and the impact of new U.S. tariffs (especially on construction materials), and you've got even more reason for buyers to take a wait-and-see approach. Even those who could move forward are hesitating, unsure if now is the right time or if they'll regret it six months from now. With conflicting headlines every week, many are feeling stuck in the noise.

So, what's the play here? This is a window for buyers to shop with some leverage, with less competition and more choice. For sellers, it's all about strategy. Overpricing will cost time. Staging, strong marketing, and realistic expectations matter more than ever. Investors should keep an eye on detached homes, which are holding value better than condos and townhouses, and could offer decent upside if activity picks up later this year.

Spring usually brings a rush, but this one might be a slow burn. My best advice is to stay sharp and flexible. Talk with me today about your goals so that I may present you with opportunities as they present themselves.