GTA Real Estate Market Report – August 2025
July Sales Heat Up, But Inventory Stays Cool
Sales picked up in July, with 6,100 homes changing hands across the GTA—a 10.9 % increase over last year. But new listings only rose 5.7 %, which means buyers are outpacing sellers and inventory’s tightening again.
Prices are still sliding, though. The average home sold for $1,051,719 last month, down 5.5 % from July 2024. The MLS benchmark price also dipped by 5.4 %, reflecting softness across most segments.
Even so, not everything is moving. Sold homes spent about 30 days on the market, but active listings are sitting longer (closer to 36 days) suggesting that buyers are getting pickier and skipping over homes that miss the mark on price or presentation.
Detached homes held their value a bit better outside the city. In the 905, average prices dropped 5.2 %, while in the 416, they fell 8.6 %. The steepest year-over-year drop came from Toronto condos, down nearly 10 %—a clear sign that urban inventory is still under pressure.
Rates remain a sticking point. The Bank of Canada held its key rate at 5.0 % again in July. Fixed mortgage rates have eased slightly, and that’s pulling some buyers back in—but affordability is still the biggest barrier, especially in the entry-level and upgrade markets.
