GTA Real Estate Market Report – August 2025
Sales in August reached 5,211 homes across the GTA, up 2.3% from last year. But supply grew much faster, with 14,038 new listings, up 9.4% from August 2024. Buyers now have the broadest choice they’ve seen all summer, shifting the balance of power.
Prices reflected that shift as well. The average selling price landed at $1,022,143, down 5.2% year-over-year. The MLS benchmark fell by the same amount. Compared to July, both the benchmark and average stayed flat, suggesting values may have found a temporary floor.
Seasonally adjusted numbers tell the real story: sales eased slightly from July while listings climbed. Buyers are browsing more carefully, negotiating harder, and letting overpriced homes sit.
The broader economy is reinforcing this mood. Inflation has cooled, and the Bank of Canada is signaling more rate cuts ahead. That relief could draw buyers back quickly, but for now, affordability remains stretched. Even with prices down, average households still struggle with mortgage payments.
What to Watch
Supply outpaces demand. More listings and only modest sales growth mean buyers are firmly in control.
Prices may be stabilizing. Year-over-year declines remain, but August held steady against July.
Economic shifts matter. Rate cuts could bring demand roaring back, but tariffs and slower growth add uncertainty.
Segment split. Detached homes in the 905 show resilience, while downtown condos remain under pressure.
