Home sales in the Greater Toronto Area declined in 2025 compared to 2024 amid economic uncertainty. Over the same period, elevated listing inventory helped buyers negotiate lower selling prices, according to analysis from the Toronto Regional Real Estate Board (TRREB).
“Improved affordability has set the market up for recovery,” said TRREB President Daniel Steinfeld. “Once households are convinced that the economy and labour market are on a solid footing, sales will increase as pent-up demand is satisfied.”
Last year, the market recorded 62,433 home sales, marking a 11.2 per cent decline from 2024. Sellers added 186,753 new listings, a 10.1 per cent year-over-year increase. The average selling price reached $1,067,968 in 2025, down by 4.7 per cent compared to $1,120,241 in 2024.
In December 2025, the market recorded 3,697 home sales, down 8.9 per cent from December 2024. Sellers listed 5,299 new homes, up 1.8 per cent year-over-year.
The benchmark home price fell by 6.3 per cent year-over-year, while the average selling price dropped 5.1 per cent to $1,006,735.
On a seasonally adjusted basis, December home sales dipped slightly from November 2025, new listings rose, the benchmark price trended lower and the average selling price edged higher.
“Reaffirmed trade relationships and large-scale domestic economic development projects will be key for improved home sales moving forward,” noted TRREB Chief Information Officer Jason Mercer. ”GTA households must be confident in their employment situation before committing to long-term monthly mortgage payments, even in this more affordable market.”
TRREB CEO John DiMichele is urging all levels of government to act immediately and provide tax relief to consumers to ease the cost of living.
“Families and individuals need financial breathing room so they can afford a home or apartment and meet their basic needs,” he said. “Fair and responsible tax policies can put more money back into people’s pockets, restore consumer confidence, and rebuild trust in the economy. These actions are essential to support stable households and create an economy that works for everyone.”
