Through the first half of 2025, two key takeaways have emerged: listings remain elevated at the highest levels in well over a decade, and buyers, while still somewhat cautious, are now facing some of the most favourable conditions seen in years. Economic uncertainty and ongoing tariff fluctuations have paused the interest rate declines that began earlier in the year, but the fundamentals have shifted in buyers’ favour. With prices holding relatively steady and supply at multi-year highs, opportunities are quietly emerging across the Greater Toronto Area.
Inventory continues to be the headline story. The average monthly listing count so far this year sits at 25,018, by far the highest level recorded over the past decade. During 2020 and 2021, monthly inventory through the first half of the year hovered below 10,500. In 2022 and 2023, that number remained under 11,000. Today’s figure represents a 137 per cent increase compared to five years ago. Also noteworthy, June’s 31,603 active listings represent an 86 per cent jump above the 10-year average for the month. Sales remain relatively low, but signs of stability are emerging. For the first time in six months, June did not record a double-digit year-over-year sales decline, in fact, sales realized a modest increase for the first time since November 2024. A total of 6,243 properties sold during the month, marking a 0.5 per cent annual increase. Despite the uptick in sales, the average home price dropped 1.7 per cent on a monthly basis to $1,101,691.
“The GTA housing market continued to show signs of recovery in June. With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices. Combined with lower borrowing costs compared to a year ago, homeownership is becoming a more attainable goal for many households in 2025,” said Toronto Regional Real Estate Board (TRREB) President, Elechia Barry-Sproule. Breaking down the individual market segments, the detached market saw a 2 per cent monthly decrease in the average sales price, which fell to $1,392,033. Inventory rose by 3 per cent to 14,143 active listings, a level that sits 66 per cent above the 10-year historical average for the month. While sales remained soft at 3,011 transactions, this figure is 29 per cent below the 10 year June average, once again underscoring the leverage currently held by buyers.
Condos averaged $696,424 in June, as values moved closer to the $700,000 threshold, an achievement not seen over the past 11 months. Active listings remain at historic highs, with 10,501 properties on the market. This has created real value opportunities for buyers in the condo segment. Sales totalled 1,510 units, marking the sixth consecutive month of year-over-year declines.
Townhome values declined by 3 per cent, with the average sales price settling at $965,792. Inventory remains elevated, with 2,419 properties listed for sale. Sales activity slowed, falling 13 per cent from May to a total of 566 transactions.
Semi-detached properties had an average sales price of $1,089,751. Inventory surpassed 1,800 active listings for the first time. Sales remained well below historical norms, with 601 transactions in June, 34 per cent lower than the 10-year average for
the month.
With interest rates down from last summer, prices largely stable, and inventory offering broad choice across every property type, the current market environment has quietly shifted in favour of buyers. While activity remains below long-term averages, many of the key ingredients for a well-timed purchase are falling into place. If interest rates hold or begin to fall again, buyer momentum could accelerate through the second half of the year.
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