Despite the mortgage rate cuts and lower sales prices, many households are taking a wait-and-see approach to home buying. Read more to find out how this affects the Greater Toronto Area (GTA) housing market.
The MLS® Home Price Index (HPI) Composite benchmark was down on a year-over-year basis by 3.8% Over the same period of time, the average price dipped slightly by 2% to $1,093,254. Sales for the month reached 5,011, a 23.1% decrease compared to last year. March 2025 closed with 17,263 listings – up by 28.6% year-over-year.
“Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring. Buyers will also benefit from increased choice, giving them greater negotiating power. Once consumers feel confident in the economy and their job security, home buying activity should improve,” said Toronto Regional Real Estate Board (TRREB) President Elechia Barry-Sproule.
Get in touch 📞💬 with Lina & Team to make the most out of these trends!
In March 2025, seasonally adjusted home sales in the GTA declined slightly, while average prices held steady. Buyers benefited from lower mortgage rates and increased inventory. Authorities remain hopeful that resolving trade issues or implementing supportive policies will boost future sales.
