April's TRREB property-type breakdown shows detached homes priced at $1.37M (down 4.1% YoY but up 2.3% MoM), while condos at $635,653 are still 6.3% below last year — two markets moving on different timelines.

Last updated 2026-05-09. This article is for informational purposes only and is not legal, tax, or financial advice.

One headline, two markets: detached vs. condo in April 2026

The TRREB April 2026 average price of $1,051,969 is a useful headline number but it conceals two very different stories. Drill into the property-type breakdown and the GTA is really two markets — a detached/semi market starting to find its footing, and a condo/townhouse market still working through structural oversupply (Harvey Kalles, April 2026 Toronto Housing Market Update).

April 2026 average price by property type

Detached: $1,372,688 — down 4.1% YoY, up 2.3% MoM
Semi-detached: $1,033,469 — down 5.2% YoY, up 2.5% MoM
Townhomes: $839,509 — down 7.9% YoY, down 1.3% MoM
Condominium apartments: $635,653 — down 6.3% YoY, up 2.4% MoM

Share of April sales by property type

Detached: 46.4% of sales (the largest single share)
Condominium apartments: 26.1%
Townhomes: 16.6%
Semi-detached: 9.5%

The detached story: tightest supply, fastest stabilization

Detached housing is the segment with the slowest new-supply pipeline (almost no new detached projects launch in the GTA in any given quarter because of land economics). When demand picks up, detached responds first. April's +2.3% MoM bounce on detached, against a backdrop of declining new listings, is the clearest signal in the data that the floor in this segment may be in. The 4.1% YoY decline is the smallest of any property type.

The condo story: still working through the overhang

Condos sit on the other end of the spectrum. The GTHA still has thousands of completed-but-unsold investor-owned units coming to market as builds wrap up, and Urbanation projects another ~21,850 completions in 2026. Even with new project launches collapsing (zero in Q1 2026), the existing pipeline guarantees a wave of supply through 2027. That's why condo prices are still down 6.3% YoY — and why the April MoM gain of 2.4% is more about lower listings than about real demand strength.

Townhomes are the segment quietly losing the most

Townhomes are the only April property type that dropped both YoY (-7.9%) and MoM (-1.3%). They sit in an awkward spot — they cost almost as much as a semi but offer less land and lower long-term appreciation potential — and in a buyer's market that ambiguity tends to penalize them.

What this means by buyer type

First-time buyer with a $700K–$850K budget: The townhome segment is genuinely on sale right now. If you're planning a 10-year hold, this is a defensible entry.
Move-up buyer eyeing detached or semi: The window of weakness is narrowing. The next six months may be the best buying conditions you see in this segment in this cycle.
Condo investor: Wait. Cash flow math is broken, prices are still trending down, and 2026's completion wave hasn't fully hit yet.
Condo end-user (one-person or no-kid household): You have leverage you haven't had in five years. Use it.