GTA supply conditions tightened in May as new listings fell 19% year-over-year to 17,698 homes, while sales continued to rise, pushing the sales-to-new listings ratio up to 37% from 28% a year ago.

This shift is gradually reducing inventory and rebalancing the market, although Urbanation notes that activity remains quieter than a typical spring market and supply is still elevated relative to long-term norms.

Wondering what changing supply conditions mean for your next move? Let’s talk strategy.