The average price of a home in Canada's largest real estate market climbed back above $800,000 last month for the first time in almost a year in the latest sign Toronto housing is slowly recovering from the shock of last year's regulatory intervention.

There's no denying year-over-year comparisons are jaw-dropping, with total sales across the Greater Toronto Area plummeting 32.1 per cent in April as 7,792 properties traded hands.

But 12 months ago the market was at its peak. Bubble fears were running rampant in April 2017, prompting Kathleen Wynne's Ontario Liberal government to step in with its 16-point so-called Fair Housing Plan, which was built around a 15-per-cent tax on foreign speculators.   

The impact was swift, with prices plunging 20 per cent within a few months.

The price trend has turned around recently, with monthly averages rising every month this year, reaching $804,584 in April.

"The comparison of this year’s sales and price figures to last year’s record peak masks the fact that market conditions should support moderate increases in home prices as we move through the second half of the year, particularly for condominium apartments and higher density low-rise home types," Toronto Real Estate Board Director of Market Analysis Jason Mercer said in a release.

"Once we are past the current policy-based volatility, home owners should expect to see the resumption of a moderate and sustained pace of price growth in line with a strong local economy and steady population growth."

There's still clear divergence across property types. Detached home sales sank 38.4 per cent across the GTA last month, with the average selling price falling 14.4 per cent.

The condo market, meanwhile, stood out with its price gains in the month as the average across the GTA climbed 3.2 per cent year-over-year to $559,343.