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Toronto Market Report Summary

• The average selling price of a home in Toronto decreased by 5.5% year-over-year to $995,100 in June 2025.
• The average selling price of a single-family home in Toronto decreased by 5.9% year-over-year to $1,216,000 in June 2025.
• The average selling price of a townhouse/multiplex in Toronto decreased by 7.1% year-over-year to $739,500 in June 2025.
• The average selling price of a condo in Toronto decreased by 8% year-over-year to $585,100 in June 2025.
• The average rent in Toronto decreased by 5% year-over-year to $2,587 for June 2025.
• July 25, 2025: Today’s lowest mortgage rate in Toronto is for a 5–year fixed.

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Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

Toronto Housing Market Summary

Data from the Toronto Regional Real Estate Board (TRREB) indicates that the average price of resale residential homes sold across Toronto in June 2025 was $995,100, and it decreased of 5.5% compared to a year ago.

TREBB also reported a sales-to-new-listings ratio (SNLR) of 31%, indicating a Buyers in Toronto for June 2025.

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Toronto Housing Market Recovery Gains Momentum as Affordability Improves

According to the Toronto Regional Real Estate Board (TRREB), Toronto’s real estate market continued to show early signs of recovery in June 2025, although overall conditions remain soft by historical standards. Affordability improved thanks to lower borrowing costs and a modest pullback in home prices. Toronto area realtors recorded 6,243 home sales, down 2.4% from June 2024, but up 8.1% month-over-month on a seasonally adjusted basis.

New listings surged 7.7% annually to 19,839, while active listings climbed 33.8%, pushing months of inventory (MOI) to 4.6. That’s well into balanced territory but still below the condo segment’s cooler MOI of 7. With more supply arriving, particularly in higher-end neighbourhoods like Lawrence Park and the Annex, sellers are adjusting expectations and slashing asking prices to compete.

• Average GTA home price: $1,101,691 (–5.4% YoY)
• Detached average: $1,303,089 (–6%)
• Condo average: $712,548 (–5%)
• Median condo price: $630,000
• Months of Inventory (MOI) for houses: 4.6,  MOI for condos: 7
• Share of homes selling above asking: 29% for houses, 17% for condos

Some segments, especially detached homes over $3 million, are seeing sellers proactively cut prices. In Lawrence Park, for instance, listings over $4M are stacking up as homebuyers focus on better value elsewhere. Motivated sellers are testing price drops earlier in the listing cycle to stay competitive as July brings a fresh wave of inventory.

Realtors report that while buyer sentiment is stabilizing, households are cautious. Economic uncertainty, higher unemployment, and stricter lending requirements are creating friction in deals, even for those with strong equity positions. Bridge financing surprises and last-minute mortgage denials remain risks for buyers and sellers alike.

Mortgage Strategy Takeaways as Toronto Edges Toward Stability

For homebuyers, soft pricing and growing inventory are creating leverage; however, patience remains key. The surge in listings means more opportunities to negotiate, especially in mid-to-high price segments where sellers are adjusting faster. But closing timelines and financing conditions are tighter than in past years, so pre-approval and contingency planning are critical.

Renewers may benefit if the Bank of Canada continues its rate-cutting cycle later this year. For now, many are stretching amortizations to offset the payment shock from renewing at today’s higher rates. If job security is uncertain, some may consider downsizing or renting temporarily until market conditions improve.

Refinancers, particularly investors or those tapping equity for renovations or debt consolidation, should stay cautious. With prices down 5–6% from last year, loan-to-value ratios may no longer support maximum equity takeout, especially for condos or homes purchased at peak pricing.

From a monetary policy perspective, the Bank of Canada will be closely watching Toronto. The city’s slower pace of sales recovery, higher unemployment, and rapidly growing supply all reinforce the case for further rate cuts. However, the BoC will also weigh geopolitical tailwinds, like the improving US trade relationship, before acting. A gradual easing path still seems the most likely trajectory through fall 2025.

Month-over-Month Market Expectations for Toronto

Transactions –  Number of Sales

New Listings

Real Estate Market

The sales to new listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR under 40% suggests a buyer’s market in which buyers have the upper hand and more negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market. 

Market Breakdown By Property Type for Toronto

Annual Changes to Composite Home Prices in Toronto

Toronto Market Rents Summary

The average rent in Toronto was $2,587 for the month of June 2025, which decreased by 5% on a year-over-year basis.

The average rent for a bachelor apartment in Toronto was $0 for the month of June 2025, which 0 by 0% on a year-over-year basis.

The average rent for a 1-bedroom apartment in Toronto was $2,308 for the month of June 2025, which decreased by 6% on a year-over-year basis.

The average rent for a 2-bedroom apartment in Toronto was $2,956 for the month of June 2025, which decreased by 8% on a year-over-year basis.

The average rent for a 3-bedroom apartment in Toronto was $2,308 for the month of June 2025, which decreased by 8% on a year-over-year basis.

How Does Renting Compare with Homeownership in Toronto?

Each $100,000 in mortgage balance costs an average of $522.77 per month on nesto’s lowest fixed 5-year rate at and $527.84 per month on nesto’s lowest adjustable 5-year rate at . For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.71. Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is 2.75%, and nesto’s prime rate is set to 4.95%.

Rental Price Changes by City

Rental Price Changes by Province

Rental Price Growth by Housing Type

Frequently Asked Questions on Toronto Housing Market Outlook for 2025

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