In this issue:

GTA Homes Sales Up and Selling Prices Down in March
2026 Guide to HST & GST Rebates in Ontario
Towns and Detached in Oakville Ravine Lots Coming Soon
New Listings:
  1 Bedroom walking distance from Square One
  Semi Detached with Basement Apartment
Tips to Prepare Your Home for Spring
Recipe of the Month: Caprese Quesadillas
Total Sales Activity 2025 VS 2026
Events: The Baby Show | Living Luxe Design Show | Carassauga | One of a Kind Spring Show | The Reptile & Plant Expo

GTA Homes Sales Up and Selling Prices Down in March

Greater Toronto Area (GTA) resale housing market conditions tightened in March 2026 in comparison to last year. Sales were up year-over-year, while new listings were down. Selling prices were lower compared to March 2025 helping with affordability moving into the spring market.

"It's encouraging to see an uptick in March home sales compared to last month and last year. This suggests that an increasing number of GTA households are looking to take advantage of improved affordability as we move into the spring market. Positive news on trade and geopolitical issues would help improve consumer confidence and home sales in the months ahead," said TRREB President Daniel Steinfeld.

"Buyers continued to benefit from substantial negotiating power on price across major market segments in the last month. This explains why benchmark and average selling prices were down year-over-year. However, if market conditions continue to tighten, as they did in March, selling prices could start levelling off as we move through the remainder of 2026," said TRREB Chief Information Officer Jason Mercer.

GTA REALTORS® reported 5,039 home sales through TRREB's MLS® System in March 2026 – an increase of 1.7 per cent compared to March 2025. New listings entered into the MLS® System amounted to 14,442 – down by 16.7 per cent year-over-year.

On a seasonally adjusted basis, March 2026 home sales and new listings were up month-over-month compared to February 2026. Sales were up by a slightly greater monthly rate than new listings.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by 7.4 per cent year-over-year in March 2026. The average selling price, at $1,017,796, was down by 6.7 per cent compared to March 2025.

On a month-over-month seasonally adjusted basis selling prices remained relatively flat, with the MLS® HPI Composite edging down and the average selling price edging up compared to February 2026.

"The GTA housing supply pipeline is in danger of running dry in the medium-to-long term. The federal and provincial governments announcements on HST and development charge relief were important affordability policy initiatives designed to spur new home sales and construction. It will be important to ensure that the right types of homes are built, namely 'missing middle' home types bridging the gap between condos and traditional single-family homes. This is contemplated in the recent Ontario Building Homes and Improving Transportation Infrastructure Act," said TRREB CEO John DiMichele.

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2026 Guide to HST & GST Rebates in Ontario

Purchasing a newly built home or condo in Ontario comes with a significant tax component: HST (Harmonized Sales Tax). While this tax is often already included in the purchase price, what many buyers don't realize is that government rebates can reduce this cost by tens of thousands of dollars.

With the introduction of the new federal GST rebate for first-time home buyers, understanding how these programs work together has never been more important.

What Is HST and Why It Matters

In Ontario, new construction homes are subject to a 13% HST, which is made up of two parts:

5% GST (federal portion)
8% provincial portion (Ontario)

Although the full 13% applies, the government provides rebates to reduce the burden particularly for buyers who intend to live in the home. In most cases, builders advertise prices that already include these rebates, assuming the buyer qualifies. This is a key detail that often gets overlooked and can lead to unexpected costs at closing.

The Existing HST Rebate (Still in Effect)

The long-standing GST/HST New Housing Rebate allows buyers to recover part of the tax paid on new homes. According to CRA guidelines, this applies when the property is intended to be used as a primary place of residence.

There are two components:

Federal Portion (GST – 5%)
The federal rebate is relatively limited:
• Maximum rebate: $6,300
• Gradually reduced for homes priced above $350,000
• Completely eliminated at $450,000+

In today's Ontario market — especially in the GTA — most properties exceed this threshold. As a result, many buyers do not receive any meaningful federal rebate under the old system.

Ontario Portion (Provincial – 8%)
This is where the majority of savings comes from. The Ontario HST Rebate maximum is $24,000. A key advantage of the Ontario rebate is that it does not phase out at higher price points. Even if the home costs $800,000 or $1 million, eligible buyers can still receive up to $24,000.

The New GST Rebate (2025–2026 Update)

The federal government has introduced a major enhancement aimed at improving affordability:

First-Time Home Buyer GST Rebate
This new program significantly increases the federal portion of the rebate for eligible buyers.

Key highlights:
• Applies only to first-time home buyers
• Covers the full 5% GST on qualifying homes
• Applies to new construction homes purchased after March 20, 2025


How the Rebates Work Together

One of the most important things to understand is that these rebates can be combined.
• The Ontario rebate (up to $24,000) still applies
• The new GST rebate replaces the smaller federal rebate for eligible first-time buyers

Example Scenario
For a $900,000 new condo:
GST (5%) = $45,000 → fully rebated under new program
Ontario rebate = $24,000
Total savings: approximately $69,000

This is a substantial reduction in the effective purchase cost and can significantly improve affordability.

When Do Buyers Actually Receive the Rebate?

In most cases, buyers do not receive a cheque. Instead:
• The builder applies the rebate directly to the purchase price
• The buyer signs documents assigning the rebate to the builder
• The benefit is realized immediately at closing

In practical terms, the buyer simply pays a lower net amount.

If the Buyer Does Not Qualify
If a buyer does not meet eligibility requirements (for example, purchasing as an investment):
• The builder will charge back the rebate amount on closing
• The buyer must then apply to the CRA independently (e.g., rental rebate)
• The refund is received later, often after several months
• Applications must generally be submitted within two years of closing


Key Takeaways
• HST on new homes in Ontario is 13%, but rebates reduce the cost significantly
• Most buyers still benefit from the $24,000 Ontario rebate
• First-time buyers can now receive up to $50,000 in GST savings
• Combined savings can exceed $60,000–$70,000+
• In most cases, the rebate is applied upfront — not paid out later
• Understanding eligibility is critical to avoid unexpected costs at closing

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