April 2025 brought a wave of mixed headlines to Toronto’s real estate market, but beneath the noise is a more nuanced and surprising picture. While the overall activity across the Greater Toronto Area (GTA) remained historically low, the City of Toronto itself showed signs of resilience and momentum worth paying attention to.
A Tale of Two Aprils
Let’s start with the broader perspective. April 2025 marked the second slowest April on record for the GTA. The only April with fewer sales was in 2020, during the peak of pandemic lockdowns. In contrast, Toronto proper saw its highest number of monthly sales so far in 2025, signaling a shift in buyer engagement within the city’s core.
In April 2021, Toronto experienced its busiest month ever with 4,705 transactions. By comparison, this April registered 2,162 sales—a dramatic drop from the peak, yet notable for being the highest of the year to date.
Prices Rebound from Early-Year Lows
Home prices in Toronto have also shown meaningful movement. While not at record levels, April 2025 prices were the highest we've seen since the market peak in April 2022. From January to April alone, average home prices in the city have climbed nearly 20%. For those who purchased early in the year, this marks a significant and encouraging gain.
Market Conditions and Mortgage Rates
Amid the broader economic context—recent elections, ongoing tariff talks, and a steady Bank of Canada overnight rate—fixed mortgage rates edged up slightly this month. Still, both fixed and variable rates are holding around the 4.25% range, offering some predictability for borrowers.
Condos and Competitive Properties
Condo sales made up 42% of total transactions, a slight drop from the previous month. But while volume is down, demand remains active in well-located and well-priced buildings. In prime areas of the city, offer nights and multiple bids are still happening, especially on freehold homes and standout listings.
Inventory Snapshot
Here’s where things stand with months of inventory in April:
Looking Ahead
While April’s numbers show a market that’s far from the highs of the past few years, they also reveal a level of stability and gradual growth that could shape the months ahead. For buyers, especially in the condo segment, opportunities remain. For sellers, the right pricing and presentation can still drive strong results.
If you’re planning a move in 2025, now’s a good time to begin strategizing. The data shows that the Toronto market is active—but selective—and understanding your position will be key in navigating what comes next.
A Tale of Two Aprils
Let’s start with the broader perspective. April 2025 marked the second slowest April on record for the GTA. The only April with fewer sales was in 2020, during the peak of pandemic lockdowns. In contrast, Toronto proper saw its highest number of monthly sales so far in 2025, signaling a shift in buyer engagement within the city’s core.
In April 2021, Toronto experienced its busiest month ever with 4,705 transactions. By comparison, this April registered 2,162 sales—a dramatic drop from the peak, yet notable for being the highest of the year to date.
Prices Rebound from Early-Year Lows
Home prices in Toronto have also shown meaningful movement. While not at record levels, April 2025 prices were the highest we've seen since the market peak in April 2022. From January to April alone, average home prices in the city have climbed nearly 20%. For those who purchased early in the year, this marks a significant and encouraging gain.
Market Conditions and Mortgage Rates
Amid the broader economic context—recent elections, ongoing tariff talks, and a steady Bank of Canada overnight rate—fixed mortgage rates edged up slightly this month. Still, both fixed and variable rates are holding around the 4.25% range, offering some predictability for borrowers.
Condos and Competitive Properties
Condo sales made up 42% of total transactions, a slight drop from the previous month. But while volume is down, demand remains active in well-located and well-priced buildings. In prime areas of the city, offer nights and multiple bids are still happening, especially on freehold homes and standout listings.
Inventory Snapshot
Here’s where things stand with months of inventory in April:
- Detached homes: Slight drop in inventory from March, keeping the category in balanced-to-seller market territory.
- Semi-detached homes: Slight increase, but still hovering around two months of inventory—a sign of strong interest.
- Townhouses: Up to about 3.7 months, which still qualifies as balanced.
- Condos: Up around 6.8 months of inventory, officially a buyer’s market by that measure.
Looking Ahead
While April’s numbers show a market that’s far from the highs of the past few years, they also reveal a level of stability and gradual growth that could shape the months ahead. For buyers, especially in the condo segment, opportunities remain. For sellers, the right pricing and presentation can still drive strong results.
If you’re planning a move in 2025, now’s a good time to begin strategizing. The data shows that the Toronto market is active—but selective—and understanding your position will be key in navigating what comes next.
