March 2026 was an interesting month for the Oakville‑Milton and Greater Toronto housing markets. According to the Oakville‑Milton District Real Estate Board, 356 homes were sold in March 2026, a 5.3 % increase from March 2025. Even with that bump, sales were still below the five‑ and ten‑year March averages, which suggests we’re not yet back to the robust levels seen during the pandemic boom. New listings were down 20.3 %, with 1,110 homes hitting the market. Fewer homes for sale means less choice for buyers and continued upward pressure on prices.
The tight supply did not stop prices from softening. The Board’s MLS® Home Price Index (HPI) benchmark price for a typical home was $1,035,200, down 11.1 % from the same time last year. Single‑family homes, townhouses and condos all saw double‑digit price declines compared to March 2025. The average selling price of all homes sold was $1,148,923, a 5.5 % decrease from March 2025. Year‑to‑date, the average price sits at $1,170,041, about 4.7 % lower than this time last year. These numbers indicate that the market has cooled from its peak, creating opportunities for buyers who had been priced out.
In the Greater Toronto Area (GTA), market dynamics were similar. REALTORS® in the GTA reported 5,039 sales in March 2026, just 1.7 % higher than March 2025. New listings totalled 14,442, which is 16.7 % fewer than a year ago, again signalling a shortage of inventory. The GTA MLS® HPI composite benchmark price declined 7.4 % year‑over‑year, and the average selling price was $1,017,796, down 6.7 %. The Toronto Regional Real Estate Board noted that both sales and new listings were up compared with February 2026, suggesting some momentum as we move into the spring market. The combination of slightly lower prices and rising sales implies that affordability has improved and buyers are testing the waters.
What does this mean for buyers and sellers in Milton and Mississauga? Buyers have more bargaining power than during the recent peak because prices have come down and there are fewer competing offers. However, inventory remains limited, so desirable homes still move quickly. It’s important to have your financing pre‑approved and work with an experienced REALTOR® who knows the local market. For sellers, properly pricing your home is critical. Homes that are staged, marketed effectively and priced close to current market values continue to attract qualified buyers. While prices are trending lower than last year, demand remains steady, especially for move‑in‑ready homes in family‑friendly neighbourhoods. Overall, the market appears to be balancing after years of volatility, providing opportunities for both buyers and sellers.
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