Home sales in the Greater Toronto Area saw an 11.2% decline in the past year compared to 2024, as indicated by a recent report released on Wednesday. The Toronto Regional Real Estate Board (TRREB) attributed this drop to economic uncertainties that impacted consumer confidence throughout 2025. Despite the challenging market conditions, listing inventory remained high, leading to negotiation room for selling prices and ultimately contributing to improved affordability, according to the report.
Throughout 2025, Realtors within the GTA recorded a total of 62,433 home sales through TRREB’s MLS system. Additionally, there were 186,753 new listings, marking a 10.1% increase year-over-year. The average selling price for homes in 2025 stood at $1,067,968, representing a 4.7% decrease from the previous year’s average of $1,120,241.
TRREB’s president, Daniel Steinfeld, acknowledged that the housing market in the GTA became more accessible in the past year due to lower selling prices and mortgage rates. He expressed optimism that the improved affordability sets the stage for market recovery, anticipating an increase in sales once consumer confidence is restored alongside a stable economy and labor market.
However, TRREB’s CEO, John DiMichele, emphasized the importance of tax relief from government entities to alleviate the cost of living for families and individuals. DiMichele stressed the significance of implementing fair and responsible tax policies to boost consumer confidence and rebuild trust in the economy, ultimately supporting stable households and fostering an inclusive economic environment.
TRREB’s chief information officer, Jason Mercer, highlighted the potential positive impact of national projects on boosting home sales in the GTA. Mercer emphasized the importance of federal initiatives in enhancing economic conditions, noting that reaffirmed trade relationships and large-scale domestic projects could play a pivotal role in driving improved sales in the housing market.
Specifically, in December 2025, home sales experienced an 8.9% decline year-over-year, with 3,697 reported transactions. Meanwhile, new listings in December amounted to 5,299, showing a modest 1.8% increase compared to the previous year. The average selling price for homes in December 2025 was $1,006,735, representing a 5.1% decrease from December 2024 figures. Despite a slight month-over-month drop in December home sales compared to November 2025 on a seasonally adjusted basis, new listings saw an increase, according to the report.