Home sales in the Greater Toronto Area saw an 11.2% decline last year when compared to 2024, as per a recent report released on Wednesday. The Toronto Regional Real Estate Board (TRREB) attributed this drop to economic uncertainty affecting consumer confidence in 2025. Despite this, the report highlighted that listing inventory remained high, leading to negotiable selling prices and improved affordability.
According to the report, 62,433 home sales were reported by TRREB’s MLS system in 2025, with new listings totaling 186,753, marking a 10.1% increase from the previous year. The average selling price for homes in 2025 was $1,067,968, showing a 4.7% decrease from 2024’s average of $1,120,241.
TRREB President Daniel Steinfeld noted that the GTA housing market became more affordable in 2025 due to lower selling prices and mortgage rates, suggesting a potential market recovery. However, TRREB CEO John DiMichele emphasized the need for tax relief from all government levels to alleviate the cost of living, enabling families to afford homes and meet essential needs.
TRREB’s Chief Information Officer Jason Mercer highlighted the importance of federal initiatives to enhance the economy, believing they would positively impact the GTA housing market. Mercer mentioned that strong trade relationships and domestic economic projects could boost home sales in the region.
In December 2025, home sales declined by 8.9% compared to the same period in 2024, with 3,697 reported sales. Additionally, new listings in December 2025 increased by 1.8% year-over-year, amounting to 5,299 listings. The average selling price for homes in December 2025 was $1,006,735, showing a 5.1% decrease from December 2024. Despite a slight month-over-month drop in December home sales compared to November 2025 on a seasonally adjusted basis, new listings saw an uptick.