In July 2025, home sales in the Greater Toronto Area (GTA) experienced a significant increase of 10.9 percent compared to the same month the previous year. A total of 6,100 properties were sold, marking the highest level of activity recorded for the month since 2021. This uptick in sales indicates a recovering real estate market buoyed by changes in affordability for potential homebuyers.

The Toronto Regional Real Estate Board (TRREB) reported that sales rose by 13 percent from June on a seasonally adjusted month-over-month basis. The improvement in affordability is largely attributed to lower property prices and decreased borrowing costs. This shift is starting to have a positive impact on home sales in the region.

However, despite the rise in sales, the average selling price for homes in the GTA saw a decrease of 5.5 percent compared to July of the previous year, bringing the average to $1,051,719. Additionally, the composite benchmark price, designed to reflect the value of the typical home, also experienced a decline of 5.4 percent year-over-year. This trend suggests that while more households are finding affordable options for home ownership, there are still challenges in the market that need to be addressed.

TRREB President Elechia Barry-Sproule expressed optimism regarding the increased accessibility of home ownership for many families. However, she emphasized the need for further measures to facilitate a more robust recovery in the market, particularly concerning borrowing costs, which continue to be a significant concern for buyers.

The board also reported that the number of properties newly listed in the GTA last month reached 17,613, a 5.7 percent increase from July 2024. This influx of listings indicates that sellers are becoming more active in the market, potentially responding to the rising demand for homes.

Furthermore, the total number of active listings climbed to 30,215 in July 2025, reflecting a substantial 26.2 percent increase from last year’s inventory of 23,936 homes. This rise in listings can provide more options for buyers and may help stabilize prices as the market adjusts to changing economic conditions.

This July report underscores a significant moment for the GTA real estate market, as it navigates the complexities of affordability and buyer confidence. As more households find themselves in a position to purchase homes, the market dynamics are shifting, highlighting the critical balance between pricing, borrowing, and sales activity moving forward.