Mortgage Rates in Toronto

Best 5-Year Fixed Insured Mortgage Rates

Toronto Housing Market Report

Market Report Summary for May 2026

Updated June 3rd, 2026

  • The Greater Toronto Area's benchmark home price for May 2026 was $946,500, down 6.7% year-over-year (YoY) and up 0.3% month-over-month (MoM).
  • The average home sold price in the GTA decreased 4.6% year-over-year to $1,069,700 for May 2026.
  • Detached home average price decreased 4.7% year-over-year to $1.36M.
  • Semi-detached home average price decreased 2.8% year-over-year to $1.07M.
  • Freehold townhouse average price decreased 8% year-over-year to $916k.
  • Condo apartment average price decreased 6.4% year-over-year to $639k.
  • June 12, 2026 Update: Today's lowest mortgage rate in Toronto is 3.3% for 5-Year Variable.

Greater Toronto Area May 2026 Average Sold Price

  • $668k to $823k
  • $823k to $940k
  • $940k to $1.02M
  • $1.02M to $1.16M
  • $1.16M to $1.29M
  • $1.29M to $2.65M

GTA Housing Market Overview

Data for May 2026

  • Avg. Sold Price: $1,069,700
  • Detached: $1,358,131
  • Semi-Detached: $1,067,672
  • Freehold Townhouse: $916,474
  • Condo Apartment: $639,468
Property Type Avg. Sold Price
All Property Types $1,069,700
1.7% increase (1-month change)
4.6% decrease (12-month change)
Detached $1,358,131
1.1% decrease (1-month change)
4.7% decrease (12-month change)
Semi-Detached $1,067,672
3.3% increase (1-month change)
2.8% decrease (12-month change)
Freehold Townhouse $916,474
2.4% decrease (1-month change)
8.0% decrease (12-month change)
Condo Apartment $639,468
0.6% increase (1-month change)
6.4% decrease (12-month change)

GTA Housing Market: Price Movements for May 2026

Price Metric Current Value Change (1-Month) Change (1-Year)
Benchmark Home Price $946,500 +0.3% -6.7%
Average Home Price $1,069,700 +1.7% -4.6%
Median Home Price $910,000 +3.4% -4.7%

Toronto Market Condition:

  • Balanced: Months of Supply (May 2026): 4.1 months

Looking Forward:

Sellers have seen a better market in May 2026 than in the previous quarter, but it remains unfavorable for unrealistic pricing. Buyers have more alternatives, as inventory levels are higher than earlier in 2026, and annual prices are still lower.

Glossary and Definitions

  • MLS® Home Price Index (HPI): Tracks price trends in the Canadian housing market.
  • MLS® HPI Benchmark Price: Dollar value assigned to a typical home in a specific neighborhood.
  • Detached Home: Standard single-family home.
  • Semi-Detached Home: Shares a wall with another home.
  • Townhouses: Middle ground between detached homes and condo apartments.
  • Condo Apartment: Residential units in complexes sharing common areas.
  • Freeholds: Property where the owner owns both the house and the land.
  • Condominiums: Property where the owner owns the unit but shares ownership of the land.
  • Leasehold: Different entities own the land and the structure.