Home sales in the Greater Toronto Area saw an 11.2% decline in 2025 compared to the previous year, as per a recent report from the Toronto Regional Real Estate Board (TRREB). The report attributed this decrease to economic uncertainty impacting consumer confidence. Despite this, listing inventory remained high, leading to negotiable selling prices and improved affordability.
According to TRREB’s data, there were 62,433 home sales in the GTA in 2025, with 186,753 new listings, showing a 10.1% increase from the previous year. The average selling price for homes in 2025 was $1,067,968, marking a 4.7% decrease from 2024.
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, setting the stage for a potential market recovery. He emphasized that once households gain confidence in the economy and job market, pent-up demand could lead to increased sales.
While acknowledging the improved affordability, TRREB CEO John DiMichele called for tax relief from the government to alleviate the cost of living for residents. DiMichele stressed the importance of fair tax policies to boost consumer confidence, restore trust in the economy, and support stable households.
TRREB’s Chief Information Officer Jason Mercer highlighted the potential positive impact of national projects on the housing market, stating that federal initiatives to boost the economy could drive improved home sales in the GTA. He mentioned that strong trade relationships and domestic economic development projects are vital for the market’s growth.
In December 2025, there were 3,697 home sales reported, an 8.9% decrease from December 2024, with 5,299 new listings recorded, showing a 1.8% increase year-over-year. The average selling price in December 2025 was $1,006,735, down by 5.1% compared to the same month in 2024. The report also mentioned a slight month-over-month drop in December home sales compared to November 2025, despite an increase in new listings.