The Greater Toronto Area (GTA) housing market is slowly showing signs of recovery, according to the latest update from the Toronto Regional Real Estate Board (TRREB). Although June 2025 sales were slightly below last year’s numbers, improved affordability and rising inventory are encouraging more buyers to re-enter the market.

📉 More Affordable Than Last Year

Thanks to declining interest rates and slightly lower home prices, affordability is improving. The average selling price in June was $1,101,691, down 5.4% compared to June 2024. Mortgage rates are also lower than they were a year ago, giving buyers more breathing room when it comes to monthly payments.

TRREB President Elechia Barry-Sproule notes that “with more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices.” For those waiting on the sidelines, this could be the window of opportunity.

✅ Tip: Lock in today’s lower rates before the next wave of buyers enters the market. Apply Now

📊 Market Snapshot – June 2025

• Home Sales: 6,243 (↓ 2.4% year-over-year)

• New Listings: 19,839 (↑ 7.7% year-over-year)

• MLS® HPI Benchmark: ↓ 5.5% year-over-year

• Average Price: $1,101,691 (↓ 5.4% year-over-year)

On a seasonally adjusted basis, sales in June rose compared to May, while new listings declined, continuing a tightening trend that began in the spring.

🏛️ What Could Push Sales Even Higher?

TRREB’s Chief Information Officer, Jason Mercer, highlighted two key factors that could further support the housing market:

1. A strong trade deal with the U.S. – More economic stability would boost consumer confidence.

2. Two more rate cuts – Lower mortgage payments could make homeownership achievable for more households.

🛡️ Safety Concerns & Government Response

Beyond economics, safety is becoming a concern for many GTA residents. TRREB CEO John DiMichele addressed growing fears about home invasions and carjackings, and voiced support for a new federal crime bill aimed at stricter bail conditions and sentencing.

🏠 What Does This Mean for You?

If you’re considering buying, selling, or refinancing in the GTA, now may be the right time. With interest rates lower and more homes on the market, savvy buyers are negotiating better deals.

📌 Ready to explore your options?

Start your application online — it’s quick, secure, and free:

👉 Get Mortgage Pre-Approved Here

🏙️ Toronto Real Estate Market Update – March 2025

More Affordable, More Choice — But Buyers Are Holding Back

TORONTO, ON – April 3, 2025 — The GTA real estate market in March delivered a rare mix: greater affordability 📉 and more inventory 🏠 — a scenario many homebuyers dream of. But despite the buyer-friendly landscape, many are holding off, watching how the economy and upcoming federal election unfold.

📉 Sales Drop, but Buyer Opportunity Rises

GTA REALTORS® reported 5,011 home sales through TRREB’s MLS® System in March 2025 — a 23.1% decrease compared to March 2024. On a seasonally adjusted basis, sales also dipped compared to February 2025.

At the same time, new listings surged to 17,263, up 28.6% year-over-year, giving buyers more options than they’ve seen in quite some time. 🏘️

🗣️ “Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring,” said TRREB President Elechia Barry-Sproule. “Buyers will also benefit from increased choice, giving them greater negotiating power.”

💰 Prices Reflect the Shift

• MLS® Home Price Index Composite Benchmark:

📉 Down 3.8% YoY

📉 Down MoM (seasonally adjusted)

• Average Selling Price:

💲$1,093,254

🔻 Down 2.5% YoY

➖ Flat MoM (seasonally adjusted)

This drop in pricing, along with declining borrowing costs, has improved affordability across the board — making this spring a potentially strategic entry point for savvy buyers.

🤔 Why Are Buyers Waiting?

According to TRREB’s Chief Information Officer Jason Mercer:

“Given the current trade uncertainty 🌐 and the upcoming federal election 🇨🇦, many households are likely taking a wait-and-see approach. If trade issues are solved or public policies ease the impact of tariffs, we’ll likely see an uptick in sales.”

⚠️ Confidence Is Key

It’s not just about rates and prices — job security and economic outlook are front-of-mind for buyers committing to long-term mortgage payments.

“Home buyers need to feel their employment situation is solid before committing,” Mercer added.

🧱 Housing Supply: A Political Priority

TRREB CEO John DiMichele emphasized that housing remains a top priority across federal party platforms:

“Access to affordable housing remains top-of-mind for Canadians. Building that housing will be a key economic driver moving forward.”

🔍 Final Thoughts

✔️ More listings

✔️ Lower prices

✔️ Rate cuts expected

❌ But buyers remain hesitant

If you’re a buyer, the math is starting to make sense. If you’re a seller, positioning and strategy are more important than ever.

Thinking of making a move in the GTA? Let’s talk about how to make today’s market work for you. 📲🏡

📈 GTA Home Sales Surge in November 2024! 🏠

TORONTO, ONTARIO – December 4, 2024
The Greater Toronto Area (GTA) housing market is heating up! 🔥 Home sales in November 2024 rose significantly compared to the same time last year. Buyers are reaping the benefits of lower borrowing costs and more affordable conditions. While new listings also increased, they didn't keep up with the demand, tightening the market and nudging prices upward. 💹

Key Highlights: ✨

• Home Sales: 🏘️ A whopping 5,875 sales were recorded in November 2024—a 40.1% increase compared to November 2023!
• New Listings: 📋 11,592 properties hit the market, up 6.6% year-over-year.
• Average Price: 💵 The average selling price climbed 2.6% year-over-year to $1,106,050.

A Word from TRREB 🗣️

Jennifer Pearce, TRREB President, shared her optimism:
"With inflation easing and borrowing costs trending lower, many buyers are re-entering the market. Selling prices remain well below their historic peaks, setting the stage for a stronger recovery in 2025."

Market Trends 🔍

• Detached Homes: 🏡 Tight conditions in this segment led to price growth outpacing inflation, especially in the City of Toronto.
• Condos: 🏢 Prices remained lower than last year, offering buyers great choice and negotiation power.

According to Jason Mercer, TRREB’s Chief Market Analyst:
"Condo affordability will attract renters into homeownership as borrowing costs continue to decline."

Rental Market Outlook 🏘️

With high population growth, rental demand is expected to strengthen. However, resolving the backlog of 53,000 Landlord and Tenant Board (LTB) cases could bring significant improvements for tenants and landlords alike.

John DiMichele, TRREB CEO, emphasized:
"Reforming the LTB to make it faster and fairer will help more families find affordable housing."

GTA Residents Speak Up 📊

A recent Ipsos poll revealed:

• 93% of respondents support immediate action to reduce the LTB backlog.
• 94% believe an efficient LTB is critical to Ontario’s housing market.
• 89% endorse investments in staffing, tech, and streamlined processes.

The numbers tell a clear story: the GTA real estate market is poised for a strong recovery as we head into 2025. 📅 Whether you're buying, selling, or renting, it’s a market to watch! 👀

Stay tuned for more updates, and let us know your thoughts in the comments below!

Greater Toronto Area (GTA) home sales surged in October 2024, with a notable 44.4% increase year-over-year. The Toronto Regional Real Estate Board (TRREB) reported 6,658 home sales through the MLS® system, compared to 4,611 in October 2023. The average selling price rose 1.1% to $1,135,215, reflecting a shift in market dynamics as new listings also increased, albeit at a slower rate than sales.

Key Market Highlights for October 2024

• Home Sales: GTA home sales reached 6,658 in October, up by 44.4% compared to the previous year.
• New Listings: 15,328 new listings were added to the MLS® system, marking a 4.3% year-over-year increase.
• Average Selling Price: Slightly increased by 1.1% from October 2023, reaching $1,135,215.
• MLS® Home Price Index: The composite benchmark dropped by 3.3% year-over-year, while the average price edged up month-over-month from September.

TRREB President Jennifer Pearce noted that reduced borrowing costs are helping buyers re-enter the market, spurred by the Bank of Canada’s recent rate cuts. "The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity,” Pearce remarked.

Buyer Demand and Inventory Outlook

Despite a slight price increase, there remains ample inventory for buyers, which is expected to moderate price growth in the coming months. However, TRREB Chief Market Analyst Jason Mercer cautioned that as inventory decreases and home construction lags behind population growth, prices could rise more substantially by spring 2025.

Policy Impact on Affordability

TRREB CEO John DiMichele highlighted the importance of policies to support affordability. He endorsed the Conservative Party of Canada’s pledge to remove the GST on new homes under $1 million, advocating for a phased rebate that could better accommodate higher-priced markets like the GTA and Vancouver.

This October update signals an evolving market as buyers capitalize on improved affordability and stable price conditions.

It’s officially fall in the Greater Toronto Area, and along with the cooler weather, we’ve got some hot real estate news to share! Buyers are starting to jump back into the market after some favorable changes to mortgage rates and lending guidelines. If you’ve been on the fence about buying, it might be time to make your move. Let’s dig into the numbers – and don’t worry, we’ll keep it fun! 😉

Sales Are Up! But So Are Listings 🏠📈

Hold onto your hats, folks – September 2024 saw a whopping 8.5% increase in home sales compared to last year. That's right, 4,996 homes were snapped up through the Toronto Regional Real Estate Board’s (TRREB) MLS® system last month. Not too shabby, huh? 😎

But wait, there’s more! New listings also jumped up by 10.5%, bringing a total of 18,089 fresh homes onto the market. So, if you're a buyer, you’ve got more options than a kid in a candy store right now. 🍭 But unlike candy, these homes are long-term investments that could really sweeten your future!

Prices? They've Dipped, But Just a Little 💸

Now let’s talk prices – because that’s really what everyone wants to know, right? The MLS® Home Price Index Composite benchmark was down by 4.6% year-over-year in September 2024. Meanwhile, the average selling price of a home in the GTA came in at $1,107,291 – that’s only 1% lower than last year’s average of $1,118,215. I know, I know, it’s not a huge drop, but hey, every little bit helps, right? 💁‍♂️

For first-time buyers, especially in the more affordable condo and townhouse segments, this means a bit more negotiating power. As TRREB’s Chief Market Analyst Jason Mercer put it, “The ability to negotiate on price led to moderate declines, particularly in the more affordable segments.” So go ahead, dust off those bargaining skills and get yourself a deal! 🛠️

Mortgage Rate Cuts: The Game-Changer for Buyers 💥

TRREB President Jennifer Pearce had some great news for all the potential buyers out there. As interest rates edge down and mortgage lending guidelines become more flexible, more households will be able to jump into homeownership. First-time buyers, I’m looking at you! 👀 Every rate cut means a growing number of people can afford to make the leap into the market.

Plus, with the recent changes allowing homeowners to shop around for better mortgage rates without facing that dreaded stress test, there’s no better time to lock in a great deal on your mortgage. I mean, who doesn’t love saving money? 💰

The Future Looks Bright for Buyers! 🔮✨

We’re not just talking about today’s market; things are looking bright for the future, too! TRREB CEO John DiMichele highlighted how the recent changes to mortgage lending guidelines – like longer amortization periods and the ability to insure mortgages for homes over $1 million – will open up more options for buyers. Basically, if you’ve been eyeing that dream home, you might have more flexibility to make it yours. 🏡

Ready to Make Your Move? Let's Chat! 💬

If you’ve been waiting for the perfect time to buy a home in the GTA, this could be it! More listings, slightly lower prices, and better mortgage options all make for a fantastic opportunity. So what are you waiting for? Whether you’re a first-time buyer or looking for an upgrade, I’m here to help you navigate the process and find the perfect home for you.

Let’s connect and get you started on your home-buying journey. Drop me a message, and let’s chat about how to make the most of this exciting time in the GTA real estate market. 😊

Don’t forget to share this blog with anyone who’s thinking about buying their next home! ✨

🏘️ GTA Home Sales See a Decline in August 2024 📉

• Sales Drop:

  • 🏡 Total Sales: 4,975 homes
  • 🔻 Year-over-year decline: 5.3% from August 2023 (5,251 homes sold)

• New Listings:

  • 📋 Total: 12,547 listings
  • 🔼 Slight increase: 1.5% more compared to August 2023

• Average Home Prices:

  • 💲 Price: $1,074,425
  • 🔻 Down: 0.8% compared to last year

💡 Affordability Outlook

• Rate Cut Impact:

  • The Bank of Canada’s rate cut (September 4) is expected to boost affordability for first-time buyers, especially for those using variable rate mortgages.
  • Comment: "As mortgage rates continue to drop this year and next, first-time buyers, particularly in the condo market, should increase," said TRREB President Jennifer Pearce.

• Sales Trends:

  • 📈 Seasonal Adjustments: August sales edged up from July, while new listings slightly decreased compared to the previous month.

• MLS® Home Price Index:

  • 🔻 Down: 4.6% year-over-year in August 2024

🔮 Market Forecast

• Future Growth:
  • With borrowing costs expected to lower over the next 18 months, homebuyers will benefit from lower mortgage payments and reduced home prices.
  • 🏡 Ample choices in the market should keep price growth moderate, especially in the initial stages of recovery, said TRREB Chief Market Analyst Jason Mercer.

🏗️ Focus on Affordable Housing

• Boosting Home Construction:
  • TRREB CEO John DiMichele emphasized the need to focus on creating a mix of affordable homes to meet the region's demand.
  • 🏘️ Municipalities can support this by reducing development charges, which are often passed on to homebuyers.