In the Greater Toronto Area, home sales saw an 11.2% decline in 2025 compared to the previous year, as revealed in a recent report. The Toronto Regional Real Estate Board (TRREB) attributed this decrease to economic uncertainty that impacted consumer confidence. Despite this, listing inventory remained high, leading to negotiations on selling prices and an overall improvement in affordability.
Throughout 2025, TRREB recorded 62,433 home sales in the GTA through its MLS system, with new listings totaling 186,753, marking a 10.1% increase from the previous year. The average selling price for the year was $1,067,968, showing a 4.7% reduction from 2024’s average of $1,120,241.
TRREB President Daniel Steinfeld noted that the housing market in the GTA became more affordable in 2025 due to lower selling prices and mortgage rates. He expressed optimism that the market is primed for recovery, pending a boost in consumer confidence driven by a stable economy and labor market.
However, TRREB CEO John DiMichele emphasized the need for tax relief from government entities to alleviate the cost of living for residents. DiMichele stressed that implementing fair and responsible tax policies could inject more funds into people’s pockets, restore confidence, and strengthen the economy for all individuals and families.
TRREB’s Chief Information Officer, Jason Mercer, highlighted the importance of national projects in stimulating home sales in the GTA. He mentioned that federal initiatives aimed at enhancing the economy would be instrumental in driving a surge in home sales. Mercer also pointed out that households in the GTA require reassurance about their job security before committing to long-term mortgage payments, even in a more affordable market environment.
Specifically in December 2025, home sales experienced an 8.9% year-over-year decline, with 3,697 reported transactions. New listings for the month reached 5,299, showing a 1.8% increase compared to December 2024. The average selling price in December 2025 was $1,006,735, down by 5.1% from the previous year. Additionally, on a seasonally adjusted basis, December saw a slight decrease in home sales compared to November 2025, while new listings rose, according to the report.