Market Update
GTA REALTORS RELEASE MAY STATS
TORONTO, ONTARIO, June 4, 2025 – The Greater Toronto Area (GTA) housing market experienced an improvement in affordability in May 2025 relative to the same period a year earlier. With sales down and listings up, homebuyers took advantage of increased inventory and negotiating power.
“Looking at the GTA as a whole, homebuyers have certainly benefited from greater choice and improved affordability this year. However, each neighbourhood and market segment have their own nuances. Buyers considering a home purchase should connect with a REALTOR® who is knowledgeable about their preferred area and property type. In today’s market, working with a REALTOR® who brings expertise, the right tools, and a strong network is essential,” said Toronto Regional Real Estate Board President Elechia Barry-Sproule.
Source: TRREB Market Watch
GTA REALTORS® reported 6,244 home sales through TRREB’s MLS® System in May 2025 –down by 13.3 per cent compared to May 2024. New listings entered into the MLS® System amounted to 21,819 – up by 14 per cent year-over-year.
On a seasonally adjusted basis, May home sales were up month-over-month compared to April 2025. This was the second monthly increase in a row. New listings were also up compared to April, but by a lesser monthly rate than sales, suggesting a slight tightening in market conditions.
“Home ownership costs are more affordable this year compared to last. Average selling prices are lower, and so too are borrowing costs. All else being equal, sales should be up relative to 2024. The issue is a lack of economic confidence. Once households are convinced that trade stability with the United States will be established and/or real options to mitigate our reliance on the United States exist, home sales will pick up. Further cuts in borrowing costs would also be welcome news to homebuyers,” said Jason Mercer, TRREB’s Chief Information Officer.
The MLS® Home Price Index Composite benchmark was down by 4.5 per cent year-over-year in May 2025. The average selling price, at $1,120,879, was down by four per cent compared to May 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price both edged up compared to April 2025.
“With the federal government’s housing commitments reiterated in the Throne Speech, we now need concrete actions that will restore housing affordability across the GTA and the rest of Canada. This includes lowering high housing taxes and fees, embracing innovative construction technologies, and streamlining processes to reignite the construction of homes. Home construction is associated with huge economic benefits that would help mitigate the negative impact of ongoing trade disputes. Additionally, with inflation remaining low, a rate cut would be a welcome move particularly for first-time buyers and those renewing their mortgages”, said TRREB CEO John DiMichele.
Source: TRREB Market Watch
GTA MARKET UPDATE
Year-Over-Year Summary May 2025
MISSISSAUGA MARKET UPDATE
Source: TRREB Market Watch
TORONTO MARKET UPDATE
Source: TRREB Market Watch
OAKVILLE MARKET UPDATE
Source:
BURLINGTON MARKET UPDATE
Source: TRREB Market Watch
MILTON MARKET UPDATE
Source: TRREB Market Watch
VAUGHAN MARKET UPDATE
Source: TRREB Market Watch
DURHAM MARKET UPDATE
Source: TRREB Market Watch
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As first time homebuyers, the whole process can be very overwhelming. The moment we met with Theresa Baird and Lindsay Meadwell, we knew we were in good hands.
Their knowledge of the market and neighbourhoods was truly evident as we viewed different properties. They really valued what was important to us, and helped us find a family home that truly met all of our needs. Providing guidance and options along the way, they reassured us that our perfect home was out there. After several showings, emails and phone calls, we are ecstatic to say we found our new home.
Making sure we were truly happy and confident in our decision was always at the forefront to Theresa and Lindsay, and was ever-present with everything they did. They took the time and care to explain every aspect of the process, promptly answered calls and emails, and kept us informed about developments along the way. We cannot speak highly enough of our experience. Working with Theresa and Lindsay was an absolute pleasure.
- Sara and David
"As the days grow longer and the market heats up, June is the perfect time to turn possibilities into properties."
