Toronto Real Estate Market Data — May 2026多伦多地产市场数据 — 2026 年 5 月
Monthly data from the Toronto Regional Real Estate Board (TRREB) and Canadian Real Estate Association (CREA), with city-level breakdowns for the eight GTA municipalities I work in most often. Updated monthly, with full source attribution and methodology notes.每月汇总多伦多地产局 (TRREB) 与加拿大地产协会 (CREA) 数据，覆盖我服务最多的 GTA 八个城市。每月更新，附完整来源与方法说明。
How is the GTA housing market performing in May 2026?2026 年 5 月 多伦多 (GTA) 楼市表现如何？
The Greater Toronto Area recorded 6,583 home sales in May 2026, with the average selling price at $1,069,700. The MLS Home Price Index (HPI) Composite Benchmark — the price of a typical home stripped of one-off luxury sales — sat at $946,500, -6.7% year-over-year (Source: TRREB Market Watch, May 2026).2026 年 5 月，多伦多 (GTA) 共成交 6,583 套住宅，平均成交价 $1,069,700 加元。MLS 房价指数 (HPI) 综合基准价 — 剔除豪宅异常成交的”典型房价” — 为 $946,500 加元，同比 -6.7%（来源：TRREB Market Watch 2026 年 5 月）。
Sales-to-new-listings ratio (SNLR) — the leading indicator of where prices move next — was 35.7%, with 4.8 months of inventory. By the conventional reading, an SNLR under 40% signals a buyers’ market, 40–60% signals balance, above 60% signals a sellers’ market.成交挂牌比 (SNLR) — 价格走向的领先指标 — 为 35.7%，库存月数 4.8 个月。按行业惯例：SNLR 低于 40% = 买方市场，40-60% = 平衡市场，高于 60% = 卖方市场。
Canada — National Snapshot加拿大全国概览
CREA national stats lag TRREB by roughly one month, so the figures below are for May 2026.CREA 全国数据通常比 TRREB 滞后一个月，下列为 2026 年 5 月 数据。
Source: Canadian Real Estate Association (CREA), 来源：加拿大地产协会 (CREA)，May 2026 release.发布。
Greater Toronto Area — All TRREB Areas大多伦多地区 — TRREB 全境概览
Aggregate figures across the full TRREB membership area, covering Halton, Peel, City of Toronto, York, Durham, Dufferin, and Simcoe regions.TRREB 全境汇总，覆盖 Halton、Peel、多伦多市、York、Durham、Dufferin、Simcoe 七大区。
Source: Toronto Regional Real Estate Board (TRREB) Market Watch + MLS HPI Public Tables, 来源：TRREB Market Watch 与 MLS HPI 公开数据，May 2026.
Four-Year Monthly Comparison四年月度对比
Each chart below compares the current year against the three prior years, month by month. The seasonal pattern is the most important context — January is structurally lower than May regardless of cycle position. The four bars per month run 2023, 2024, 2025, 2026 (left to right).下方两组图表逐月对比当年与前三年。季节性是最关键的背景——无论周期位置，一月成交结构性低于五月。每月四根柱依次为 2023、2024、2025、2026（从左到右）。
In May 2026, GTA sales were +6.3% year-over-year while new listings ran -18.9%. That combination — sales rising into a thinner pool of new listings — is what tightening looks like, and it shows up in the SNLR bar firming vs. April 2025. Yet the price line is still down: average price -4.6% YoY, HPI Composite -6.7% YoY. The orange/yellow 2026 bars are visibly below the dark grey 2023 bars on the price chart — that’s the cumulative reset since the 2022 peak. The signal: conditions are firming, but the pricing reflex usually lags supply tightening by 2-4 months. 2026 年 5 月，GTA 成交同比 +6.3%，新挂牌同比 -18.9%。 成交回升 + 新挂牌收缩 = 经典的市场收紧组合，反映在 SNLR 柱比去年 4 月明显走高。 但价格还在跌：均价同比 -4.6%，HPI 综合同比 -6.7%。价格图上 2026 的橙黄柱明显低于 2023 的深灰柱——这是 2022 年高点至今的累计回调。信号：市场条件在收紧，但价格反应通常比供应收紧滞后 2–4 个月。
Average price for May 2026 came in at $1,069,700 (-4.6% YoY). Average price is the arithmetic mean of every transaction, so it’s sensitive to mix — a month with more luxury detached sales pulls it up, a month skewed to condos pulls it down. For trend reading, pair this with the HPI Benchmark in the table above ($946,500, -6.7% YoY), which controls for mix. 2026 年 5 月均价 $1,069,700（同比 -4.6%）。均价是所有成交的算术平均，会被产品组合影响——豪宅独立屋成交多的月份会拉高，公寓占比高的月份会拉低。看趋势时配合上方的 HPI 基准价 $946,500（同比 -6.7%）一起读，HPI 排除了组合影响。
SNLR for May 2026 sat at 35.7% — that’s buyers’ market territory by the conventional read (under 40% buyers, 40–60% balanced, above 60% sellers). SNLR is the leading indicator: it moves before prices do. Watching the orange/yellow 2026 bar relative to the previous three years tells you whether buyer activity is keeping pace with the listings being added that month. 2026 年 5 月 SNLR 为 35.7%，按行业惯例属于买方市场（40% 以下买方、40–60% 平衡、60% 以上卖方）。SNLR 是领先指标，先于价格变动。看 2026 的橙黄柱相对前三年的位置，就能判断买家热度是否跟上了当月的新挂牌量。
6,583 transactions in May 2026 (+6.3% YoY). The seasonal pattern is the dominant signal here — the spring peak (March–May) is structurally 2-3× higher than the December trough, regardless of cycle. So compare 2026 only against same-month bars from 2023/24/25, not month-over-month. The 2026 bar firmer than 2025 says spring buying activity has come back somewhat. 2026 年 5 月 成交 6,583 套（同比 +6.3%）。这张图季节性主导——春季高峰（3-5 月）结构性比 12 月低谷高 2-3 倍，与周期无关。所以 2026 只能跟 2023/24/25 的同月柱比，不要看环比。2026 柱高于 2025 说明春季买盘有所回归。
17,698 new listings entered the MLS in May 2026 (-18.9% YoY). New listings is the supply side — it tells you how much fresh inventory hit the market that month. Read this against the Sales chart above: fewer new listings + more sales = tighter market + upward pressure on SNLR. Active Listings (the standing pool) is -13.3% YoY at 26,927 — that’s the buyer’s selection set right now. 2026 年 5 月 新挂牌 17,698 套（同比 -18.9%）。新挂牌反映供应端——告诉你当月有多少新房源进入市场。配合上方成交图一起看：新挂牌减少 + 成交回升 = 市场收紧 + SNLR 上行压力。 活跃挂牌（在售存量）26,927，同比 -13.3%——这是当下买家的可选池。
Eight GTA Cities — Side by Side八大 GTA 城市横向对比
For small markets like Aurora and Newmarket, monthly Average Price can swing on a single luxury sale. The HPI Benchmark Price below is the more stable measure, smoothing out one-off transactions.对 Aurora、Newmarket 这类小市场，单月均价可能因一笔豪宅交易剧烈波动。下方 HPI 基准价是更稳定的衡量，平滑了异常成交。
Toronto多伦多市
AuroraAurora
NewmarketNewmarket
Markham万锦
Richmond Hill列治文山
Vaughan旺市
OakvilleOakville
Mississauga密西沙加
Source: TRREB Market Watch + MLS HPI Public Tables, 来源：TRREB Market Watch 与 MLS HPI 公开数据，May 2026.
Frequently Asked Questions关于市场数据的常见问题
How often is this market data page updated?本市场数据页多久更新一次？
Why is HPI Benchmark different from Average Price?HPI 基准价为什么和平均成交价不同？
What does Sales-to-New-Listings (SNLR) tell me?成交挂牌比 (SNLR) 反映什么？
Can I use this data for my own analysis?这里的数据可以引用到我自己的分析里吗？
How does this compare to a free Zillow / Realtor.ca search?和免费的 Realtor.ca / Zillow 数据相比有什么区别？
Disclaimer: This data is presented for general informational purposes. Real estate decisions should be made with full local-market context. Past performance does not predict future results. For a personalised consultation contact Arthur Zhao directly.免责声明：本页数据仅供参考。地产决策需结合具体市场背景，过往表现不代表未来。如需个性化咨询请直接联系 Arthur Zhao。
