TORONTO — The Toronto real estate market is booming again after a long time: home sales in the GTA increased 10.9% in July compared to the previous year, with 6,100 properties transferred, the highest number of transactions recorded in the same month since 2021. The Toronto Regional Real Estate Board (TRREB) stated that sales also increased 13% compared to June on a seasonally adjusted monthly basis, as increased affordability, driven by lower prices and financing costs, is starting to translate into increased home sales.
The average sales price decreased 5.5% compared to the previous year, standing at $1,051,719, and the composite benchmark price, which represents the typical home, fell 5.4% year-over-year. “More relief is required, particularly where borrowing costs are concerned, but it’s clear that a growing number of households are finding affordable options for home ownership” TRREB Chair Elechia Barry-Sproule said in a press release published on TRREB website (here).
July marked a significant turning point for the Greater Toronto real estate market, following months of consecutive year-over-year declines in activity: April saw a 23% year-over-year decline in the number of homes for sale, followed by a 13% decline in May and a decrease of approximately 2% in June. Industry observers had noted widespread hesitation among potential buyers due to the economic uncertainty associated with the Canada-US trade dispute. July, however, saw a boom, further confirmed by the fact that 17,613 new properties were listed in the GTA last month, a 5.7% increase compared to July 2024. The number of active properties for sale thus reached 30,215 last month, a 26.2% increase from 23,936 units last year.
According to TRREB, in the city of Toronto alone, 2,205 sales were recorded last month, an 11% increase compared to July 2024. Across the rest of the GTA, home sales increased 10.9%, reaching 3,895. This brings the total to 6,100. All property types in the region saw overall sales increases in July compared to the previous year. The largest increase was recorded in the duplex segment, with a 25.5% increase, followed by single-family homes with an 11.3% increase. There was a 7.9% increase in townhouse sales and a 5.8% increase in the number of condo units sold. Positive signs, therefore, at least for the real estate market, in times of great uncertainty.
The full report by TRREB is here: Market Watch July 2025