In August 2025, home sales in the Greater Toronto Area saw a modest increase compared to the same time last year, with 5,211 homes sold—a 2.3% rise. However, the number of new listings grew at a much faster rate, up 9.4% to 14,038. This increase in available homes has given home buyers more options and led to a decrease in prices.
The average selling price for a home in August was $1,022,143, which is a 5.2% drop from August 2024. According to TRREB officials, even with these lower prices and recent cuts to interest rates, many households still struggle with monthly mortgage payments. They believe that additional interest rate cuts from the Bank of Canada could boost sales and help the broader economy.
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