The spring real estate market in the Greater Toronto Area (GTA) has hit a wall. The latest May data paints a clear picture: activity is slowing, inventory is building, and buyer sentiment remains cautious.
GTA Market Snapshot – May 2025
According to the Toronto Regional Real Estate Board (TRREB)*:
- Sales: 6,244 homes sold (down 13.3% year-over-year)
- New Listings: 21,819 homes listed (up 14% year-over-year)
- Average Price: $1,120,879 (down 4% from last year)
On a seasonally adjusted basis, both sales and average prices edged up slightly from April — suggesting a modest stabilization, but still far from a rebound.
*Please note: The PropTx MLS® System, of which TRREB is a part, has added a number of new client boards over the last year. Many of these boards’ Members trade within the Greater Toronto Area and broader Greater Golden Horseshoe regions. As a result, historic data have been updated to reflect the addition of these boards’ listings and transactions. This means historic data have changed relative to previously published static reports.
Listings Are Not Moving
Condo sales in the GTA were down 25% year-over-year, with prices falling 6%. Meanwhile, inventory has climbed to 7 months’ supply, a strong indication that listings are outpacing buyer demand.
The Detached Homes aren’t faring much better. Detached home sales fell nearly 11%, and prices declined by 5.4% compared to last year.
Offer nights are often unsuccessful, and homes are sitting longer than sellers expect. A big shift from the fast-paced markets we’ve seen in recent years.
What’s Driving the Slowdown?
While affordability has improved, the biggest hurdle remains economic confidence. This isn’t just about GTA real estate — broader global and local uncertainty and job security concerns are causing many would-be buyers to delay major financial decisions.
Buyers are cautious, waiting for clearer signals on the economy, trade stability, and employment outlook. Until that confidence returns, expect the market to stay soft.
Bottom Line
If you’re a buyer, there is opportunity, but strategy matters. You have more time and flexibility to include financing and inspection conditions — practices that were rare during the market’s peak. You deserve an agent who will protect your interests and help you make an informed and confident decision.
If you’re a seller, managing expectations is key. Some realtors are even turning down listings or adding clauses to recover marketing expenses if sellers terminate early — a sign of how challenging this market has become. With less than 30% of the homes that come on the market actually sell, you need an agent who can help you navigate through this market strategically and successfully get your home sold.
For personalized advice based on your specific situation and neighbourhood, let’s connect.
📱Phone: 647-504-0690
📧 Email: steven@mistersauga.ca
*Your Trusted Partner in the GTA Real Estate Journey*