Last month was the slowest March since at least 2003, says HouseSigma
The Greater Toronto Area’s real estate market recorded its slowest March for home resales since at least 2003 last month, with buyers failing to keep pace with a surge in new listings, according to new data from HouseSigma, a real estate data and brokerage platform.
Only 4,896 resale homes were sold across the GTA in March 2026 – just over half the 10-year average of 9,003 for the same month. HouseSigma said the figure marks the lowest March on record in its database, which stretches back more than two decades. The result fell below even the lows recorded during the 2008–09 financial crisis.
New listings, meanwhile, climbed 35% from February to March, reaching 14,401 – a seasonally typical rise as sellers prepare for the spring market. However, the gap between supply and buyer activity continued to widen.
The sales slowdown has put sustained downward pressure on prices. The median sale price across all GTA home types stood at $875,000 in March, a marginal dip from February’s $878,500 but a 7.4% decline from the same period a year earlier. All three major property categories posted year-over-year price drops: detached homes fell 7.7% to a median of $1,200,000; attached homes declined 8.1% to $850,000; and condominium apartments dropped 9.4% to $548,000.
Source: HouseSigma
Active listings at month-end totalled 20,959 – up 9.6% from February but down 19% from March 2025. HouseSigma noted that despite the monthly increase in new listings, the figure remains 17% below March 2025 levels, suggesting sellers are also pulling back from the market.
The sluggishness is further reflected in how long homes are sitting unsold. Active listings took an average of 32 days to sell in March, down from 36 days in February. Property days on market – a broader metric that accounts for homes briefly delisted and relisted – stood at 65 days, pointing to a significant inventory of homes that have been available for an extended period.
HouseSigma agent Sammy Kohn said the data point to a market in transition rather than crisis.
“The rise in spring listings isn’t unusual, but the slower pace suggests a healthy recalibration,” Kohn said. “Some listings have stayed on longer, and buyers now have room to make thoughtful moves. Toronto’s long run as a sellers’ market needed this correction.”
HouseSigma draws its data from the MLS and the Toronto Regional Real Estate Board.
