A total of 62,433 home sales were transacted through the through Toronto Regional Real Estate Board’s (TRREB) MLS System during 2025, down by 11.2% from the 70,274 sales recorded in 2024.
The decline in sales occurred despite the 10.1% year-over-year increase in the number of listings, which amounted to 186,753 in 2025. Also in decline was the annual average selling price – $1.06 million, down by 4.7% compared to $1.12 million in 2024.
TRREB President Daniel Steinfeld observed that homebuying in the Greater Toronto Area became more affordable in 2025 due to lower selling prices and mortgage rates, and he predicted the market will be more vibrant this year.
“Improved affordability has set the market up for recovery,” Steinfeld said. “Once households are convinced that the economy and labor market are on a solid footing, sales will increase as pent-up demand is satisfied.”
The TRREB also reported there were 3,697 home sales in this market during December, down 8.9% year-over-year, while new listings entered into the MLS System amounted to 5,299, a 1.8% year-over-year uptick. The average selling price at $1 million was down by 5.1% compared to December 2024.
TRREB CEO John DiMichele stated, “We urge governments at all levels to take action now to provide tax relief for consumers and help ease the rising cost of living. Families and individuals need financial breathing room so they can afford a home or apartment and meet their basic needs. Fair and responsible tax policies can put more money back into people’s pockets, restore consumer confidence, and rebuild trust in the economy. These actions are essential to support stable households and create an economy that works for everyone.”
