Home sales in the Greater Toronto Area decreased by 11.2% in the previous year compared to 2024, as per a recent report unveiled on Wednesday. Economic uncertainty impacted consumer confidence in 2025, according to the Toronto Regional Real Estate Board (TRREB) in its December Market Watch report. The report highlighted that listing inventory remained high during this time, leading to negotiable selling prices and enhancing affordability.
TRREB’s MLS system recorded 62,433 home sales in the GTA in 2025, with 186,753 new listings entering the market, a 10.1% increase from the previous year. The average selling price for homes in 2025 was $1,067,968, a decrease of 4.7% from the year before.
TRREB President Daniel Steinfeld mentioned that the GTA housing market saw improved affordability in the past year due to lower selling prices and mortgage rates. This improved affordability sets the stage for a potential market recovery. However, TRREB CEO John DiMichele emphasized the need for tax relief from all levels of government to alleviate the cost of living for residents.
According to TRREB’s Chief Information Officer Jason Mercer, national initiatives to boost the economy could have a positive impact on the GTA housing market. He highlighted the significance of reaffirmed trade relationships and large-scale domestic economic development projects in driving improved home sales. Prime Minister Mark Carney’s announcement of nation-building projects aimed at enhancing Canada’s economic independence was seen as a step in the right direction.
In December 2025, home sales saw an 8.9% decline compared to December 2024, with 3,697 reported sales. New listings for the same month totaled 5,299, marking a 1.8% increase year-over-year. The average selling price in December 2025 stood at $1,006,735, reflecting a 5.1% decrease from the previous year. Additionally, on a seasonally adjusted basis, December home sales experienced a slight decrease compared to the preceding month, while new listings saw an uptick.