Welcome back to Market Watch! With more listings available coupled with lower borrowing costs; Compared to a year ago, homeownership is becoming a more attainable goal for many households in the Greater Toronto Area (GTA). Read more to see how this affects the housing market.
Greater Toronto Area REALTORS® reported 6,243 sales in June 2025, a 2.4% decrease year-over-year. On a seasonally adjusted basis, June home sales are up in comparison to May 2025. New listings entered into the MLS® System amounted to 19,839 – a 7.7% increase compared to the same month last year. Both the MLS® Home Price Index Composite and average selling price both decreased compared to the same period last year by 5.5% and 5.4% respectively. The average selling price – at $1,101,691 – also edged slightly lower compared to May 2025.

“The GTA housing market continued to show signs of recovery in June. With more listings available, buyers are taking advantage of increased choice and negotiating discounts off asking prices. Combined with lower borrowing costs compared to a year ago, homeownership is becoming a more attainable goal for many households in 2025,” said Toronto Regional Real Estate (TRREB) President Elechia Barry-Sproule. However, despite some month-over-month momentum, many would-be homebuyers remained on the sidelines due to economic uncertainty.

“A firm trade deal with the United States accompanied by an end to cross-border sabre rattling would go a long way to alleviating a weakened economy and improving consumer confidence. On top of this, two additional interest rate cuts would make monthly mortgage payments more comfortable for average GTA households. This could strengthen the momentum experienced over the last few months and provide some support for selling prices,” said TRREB Chief Information Officer Jason Mercer.

In summary, the number of home sales in the GTA continues to pick up. Average selling prices and borrowing costs remained lower than last year’s levels. Experts continue their call on the federal government to address economic and financial issues to boost consumer confidence.