11/04/2025

Home sales in the Greater Toronto Area (GTA) were down year-over-year in October, while new listings were up. Market conditions continued to favour homebuyers, as average selling prices were negotiated down alongside lower mortgage rates.

“Buyers who are confident in their employment situation and ability to make their mortgage payments over the long term are benefitting from affordable housing market conditions relative to the past few years. However, many intending homebuyers remain on the sidelines due to uncertainty about their economic future,” said TRREB President Elechia Barry-Sproule.

GTA REALTORS® reported 6,138 home sales through TRREB’s MLS® System in October 2025 – down by 9.5 per cent compared to October 2024. New listings entered into the MLS® System amounted to 16,069 – up by 2.7 per cent year-over-year.

On a seasonally adjusted basis, October home sales were down month-over-month compared to September 2025. New listings were also down compared to September.

The MLS® Home Price Index (MLS® HPI) Composite benchmark was down by five per cent year-over-year in October 2025. The average selling price, at $1,054,372, was also down by 7.2 per cent compared to October 2024.

On a month-over-month seasonally adjusted basis, the MLS® HPI Composite was essentially flat compared to September. The average selling price was down compared to September.

“The monthly mortgage payment for an average-priced GTA home continued to trend lower in October, benefitting from both lower borrowing costs, and lower selling prices. This means more buyers can now afford to purchase a home that meets their housing needs. Once we have more certainty on the economic front, including trade with the U.S. and China, home sales should increase,” said TRREB Chief Information Officer Jason Mercer.

“Housing is essential economic infrastructure. As the population continues to grow, innovation and private capital are required to accelerate new construction across all housing types. Governments can help by modernizing tax rules, cutting buyer costs, and ending exclusionary zoning. Working together, we can rebuild confidence, create jobs, and deliver the homes Ontarians need. We have to act now,” said TRREB CEO John DiMichele.

Penthouse Living close to the Waterfront. Spacious one-bedroom and oversized den (currently set up as a second bedroom), featuring a large primary suite with an ensuite bath and his and hers closets. Elegant high-quality laminate flooring throughout. This exclusive penthouse level has only 8 units, offering privacy and quiet living. The well-maintained building includes premium Malibu Club amenities: pool, gym, tennis courts and more. Enjoy the unbeatable location - just steps to the waterfront, parks, cafes, transit, and only minutes to downtown Toronto. Includes one locker and one parking space, which is conveniently located near the underground entrance door.

GTA Numbers Show Strongest July Home Sales in Four Years

The Greater Toronto Area (GTA) experienced the best home sales result for the month of July since 2021. Sales were also up relative to listings, suggesting a modest tightening in the market compared to last year.

“Improved affordability, brought about by lower home prices and borrowing costs is starting to translate into increased home sales. More relief is required, particularly where borrowing costs are concerned, but it’s clear that a growing number of households are finding affordable options for homeownership,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule.

GTA REALTORS® reported 6,100 home sales through TRREB’s MLS® System in July 2025 – up by 10.9 per cent compared to July 2024. New listings entered into the MLS® System totalled 17,613 – up by 5.7 per cent year-over-year.

On a seasonally adjusted basis, July home sales increased month-over-month compared to June 2025. New listings also rose compared to June, but by a much lesser rate. With sales increasing relative to listings, market conditions tightened.

The MLS® Home Price Index Composite benchmark fell by 5.4 per cent year-over-year in July 2025. The average selling price, at $1,051,719, was down by 5.5 per cent compared to July 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price remained flat compared to June.

“Recent data suggest that the Canadian economy is treading water in the face of trade uncertainty with the United States. A key way to mitigate the impact of trade uncertainty is to promote growth in the domestic economy. The housing sector can be a catalyst for growth, with most spin-off expenditures accruing to regional economies. Further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth,” said TRREB Chief Information Officer Jason Mercer.

“Despite widespread belief that the federal foreign buyer ban prohibits all foreign nationals from purchasing residential properties in Canada, there are exemptions that allow nonresidents to buy property, resulting in spin-off benefits to the economy. Foreign buyers can purchase multi-unit buildings with four or more units and vacant land or land for development. Non-residents can also buy other residential properties outside urban centres, including recreational properties,” said TRREB CEO John DiMichele.

“Moreover, temporary workers and international students can purchase residential property under defined circumstances under the ban extended until January 2027,” continued DiMichele.

The Greater Toronto Area (GTA) housing market experienced an improvement in affordability in May 2025 relative to the same period a year earlier. With sales down and listings up, homebuyers took advantage of increased inventory and negotiating power.

“Looking at the GTA as a whole, homebuyers have certainly benefited from greater choice and improved affordability this year. However, each neighbourhood and market segment have their own nuances. Buyers considering a home purchase should connect with a REALTOR® who is knowledgeable about their preferred area and property type. In today’s market, working with a REALTOR® who brings expertise, the right tools, and a strong network is essential,” said Toronto Regional Real Estate Board President Elechia Barry-Sproule.

GTA REALTORS® reported 6,244 home sales through TRREB’s MLS® System in May 2025 – down by 13.3 per cent compared to May 2024. New listings entered into the MLS® System amounted to 21,819 – up by 14 per cent year-overyear.

On a seasonally adjusted basis, May home sales were up month-over-month compared to April 2025. This was the second monthly increase in a row. New listings were also up compared to April, but by a lesser monthly rate than sales, suggesting a slight tightening in market conditions.

“Home ownership costs are more affordable this year compared to last. Average selling prices are lower, and so too are borrowing costs. All else being equal, sales should be up relative to 2024. The issue is a lack of economic confidence. Once households are convinced that trade stability with the United States will be established and/or real options to mitigate our reliance on the United States exist, home sales will pick up. Further cuts in borrowing costs would also be welcome news to homebuyers,” said Jason Mercer, TRREB’s Chief Information Officer.

The MLS® Home Price Index Composite benchmark was down by 4.5 per cent year-over-year in May 2025. The average selling price, at $1,120,879, was down by four per cent compared to May 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price both edged up compared to April 2025.

“With the federal government’s housing commitments reiterated in the Throne Speech, we now need concrete actions that will restore housing affordability across the GTA and the rest of Canada. This includes lowering high housing taxes and fees, embracing innovative construction technologies, and streamlining processes to reignite the construction of homes. Home construction is associated with huge economic benefits that would help mitigate the negative impact of ongoing trade disputes. Additionally, with inflation remaining low, a rate cut would be a welcome move—particularly for first-time buyers and those renewing their mortgages”, said TRREB CEO John DiMichele.