.png)
SALES COMMENTARY
The momentum in the Greater Toronto Area (GTA) housing market that began in June continued through July, with sales activity nearly matching last year’s pace. June saw only a 2.4% drop from the same period in 2024, signaling renewed buyer confidence and activity.
Many buyers who had been on the sidelines earlier in the year have returned to the market, taking time to educate themselves and explore opportunities. As a result, more purchasers are finding negotiating power than they have had in recent years, while sellers are facing longer listing periods and the need for more competitive pricing strategies.
Market sentiment was influenced by the Bank of Canada’s July rate decision, which resulted in a hold rather than another decrease. This has led both buyers and sellers to adjust to the “new normal,” with a growing belief that the market is stabilizing and any future decrease will enable the market. Many buyers view the current period as a window for improved affordability and opportunity before conditions shift again.
Toronto MLS Sales
Source: Toronto Regional Real Estate Board
SALES AND INVENTORY TRENDS
After five consecutive months of double-digit inventory growth, new listings increased by only 2.1% from May to June. In July 2025, GTA REALTORS® reported 6,100 home sales through TRREB’s MLS® System — a 10.9% increase compared to July 2024. New listings totalled 17,613, up 5.7% year-over-year.
On a seasonally adjusted basis, July home sales rose compared to June 2025, while new listings also increased but at a slower pace. This tightening of market conditions suggests that sellers who could not align with current price expectations have withdrawn, allowing transactions to set new benchmarks for affordability.
JULY YEAR-OVER-YEAR SALES
Toronto Regional Real Estate Board
CONDO MARKET
Condo supply now hovers at just over seven months. While resale condo prices remain under downward pressure, activity in mid to larger units has increased. This is the condos segment that reflects the lifestyle choice condo living provides. Rent levels are showing signs of stabilization, though many investors remain on the sidelines. This has opened the door for first-time buyers, particularly in smaller units, where demand and investor returns have been most impacted.
Share of Condo Sales by Bedroom Type
Toronto Regional Real Estate Board
LOOKING AHEAD
The GTA housing market continues to experience a multi-speed recovery, with varying performance across property types, price ranges, and neighbourhoods. As external factors such as potential rate cuts and evolving economic sentiment influence conditions through late summer and into fall, there is potential for pent-up demand to be released. This could lead to a more balanced and active market in the months ahead.
SALES & AVERAGE PRICE BY MAJOR HOME TYPE
Source: Toronto Regional Real Estate Board
