June 2025 Toronto/GTA Residential Market Update

For Home Buyers

Market overview:

• The GTA is firmly in a buyer’s market, with the Sales‑to‑New‑Listings Ratio around 29–47%, depending on location

• Inventory has surged: approximately 31,000 active listings as of late May—an increase of ~42–52% year‑over‑year .

• Sales have dropped ~11–13% year‑over‑year in May, although slightly improved from April

• Housing prices are easing: benchmark home price in the GTA ~C$1.013 M (–4.5% YoY), average sold price ~C$1.121 M (–3.8% YoY)

Property type breakdown (May):

• Detached: Avg ~$1.43 M (–5–6% YoY)

• Semi‑detached: ~$1.10 M (–6.4%)

• Townhouse: ~$996 K (–4.3%)

• Condo: ~$683 K (–6.5%)

Rates & affordability:

• The Bank of Canada held at 2.75% in June; average 5‑yr fixed mortgage in Toronto sits around 3.94%

• A Reuters June poll projects GTA home prices will fall ~4% in 2025, with modest stabilization and possible recovery in 2026

Opportunities for buyers:

• High inventory gives buyers greater leverage—longer days on market (avg ~33–39 days) and frequent negotiations (~99% sale-to-list price ratio)

• Reassessment of prices by sellers means well-priced, turnkey listings move quickly

• Suburban towns like Milton, Whitby, Vaughan remain attractive for families looking for affordability, space, and schools

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For Renters

Rental market trends (June):

• Rents are softening: furnished & unfurnished one‑bedroom units fell over 3–4.5% in June

• The increased inventory of condos and rentals, plus landlord incentives, are cooling rent pressures

Finding deals:

• Many landlords are now offering discounts, including free parking, gifts, or rent-free periods to attract tenants

• If you can act quickly, you can lock in below-market rental rates, especially for one-bed and some two-bed units.

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