Market Report | April 2025

Sales and Listings Overview

GTA REALTORS® reported 5,601 home sales through TRREB’s MLS® System in April 2025, marking a significant decline of 23.3% compared to April 2024. Despite this drop in sales, new listings in the MLS® System amounted to 18,836, reflecting an 8.1% increase year-over-year. On a seasonally adjusted basis, April home sales edged up month-over-month compared to March 2025.

Price Trends and Affordability

The MLS® Home Price Index Composite benchmark was down by 5.4% year-over-year in April 2025. The average selling price, at $1,107,463, was down by 4.1% compared to April 2024. On a month-over-month seasonally adjusted basis, the average selling price also saw a decline. TRREB Chief Information Officer Jason Mercer noted that inventory levels remained elevated historically in April, providing substantial choice for households looking to purchase a home in the GTA. Buyers took advantage of this choice when negotiating purchase prices, resulting in a lower average price across market segments compared to last year. Lower prices coupled with lower borrowing costs translated into more affordable monthly mortgage payments.

Greater Toronto Area - Monthly Sales Activity

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Data Adjustments and Historical Context

It is important to note that 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.

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City of Toronto - Active Listings

City of Toronto Monthly Sales

The GTA real estate market in April 2025 presents a complex picture influenced by economic factors, geopolitical developments, and changes in market dynamics. While sales have decreased compared to last year, the increase in new listings and the decline in average prices offer potential opportunities for buyers. As the market continues to evolve, staying informed about these trends will be crucial for making strategic decisions in the real estate landscape.

York Region - Active Listings

York Region - Monthly Sales

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Forward Guidance: What to Watch

Home Sales and Listings:

• GTA REALTORS® reported 5,601 home sales through TRREB’s MLS® System in April 2025, down by 23.3% compared to April 2024

• New listings in the MLS® System amounted to 18,836, up by 8.1% year-over-year

• On a seasonally adjusted basis, April home sales edged up month-over-month compared to March 2025

Price Trends:

• The MLS Home Price Index Composite benchmark was down by 5.4% year-over-year in April 2025

• The average selling price was $1,107,463, down by 4.1% compared to April 2024

• On a month-over-month basis, the average selling price also saw a decline

Market Dynamics:

• Inventory levels remained elevated historically in April, providing substantial choice for households looking to purchase a home in the GTA

• Buyers took advantage of this choice when negotiating purchase prices, resulting in a lower average price across market segments compared to last year.

• Lower prices coupled with lower borrowing costs translated into more affordable monthly mortgage payments

Economic and Geopolitical Factors:

• Following the recent federal election, many households across the GTA are closely monitoring the evolution of the trade relationship with the United States.

• A positive direction in this relationship could lead to an uptick in transactions driven by improved consumer confidence and a more affordable and better-supplied market.

Data Adjustments:

• The PropTX MLS System, of which TRREB is a part, has added a number of new client boards over the last year

• Historic data have been updated to reflect the addition of these boards’ listings and transactions meaning historic data have changed relative to previously published static reports

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