The latest market statistics for Toronto real estate have sparked conversation across the city. Headlines are calling attention to slow sales, but the full story is more nuanced—and more informative for buyers and sellers looking to make a move this year.
Sales Are Down, But That’s Not the Whole Picture
May 2025 saw approximately 2,300 sales in the City of Toronto, which is notably down compared to 2023 and 2024. However, sales are nearly aligned with numbers from May 2022—the peak of the market.
While the average price has dropped about 3% from last year and nearly $100,000 from May 2022, the situation is more complex than a simple downturn. As interest rates stabilized over the past few months—with no changes in the last three announcements—prices have started to show signs of modest recovery.
Inventory Is Growing
Active listings in the GTA are up 40%, with Toronto just surpassing 30,000 active listings—the highest recorded by the Toronto Real Estate Board. This increased inventory has contributed to the current five months of housing supply, a significant shift compared to previous years.
Despite this, monthly sales in May were the highest so far this year, nearly doubling January's numbers. This indicates buyer interest remains strong, though it’s more concentrated in specific market segments.
Detached and Semi-Detached Homes: Quality and Pricing Matter
In the detached home segment, both sales and prices rose slightly from April. However, many listings require extensive renovations that most buyers can’t undertake or finance. As a result, these properties linger on the market.
Properties that are move-in ready, well presented, and priced appropriately are the ones selling. In May, there were 781 detached home sales, and the successful ones were priced where they should be and looked the part.
Semi-detached homes remain one of the city’s most competitive markets. With 618 active listings, double what was seen in February, the pattern is clear: homes that look great, are priced correctly, and show well tend to receive multiple offers—typically four to six—and sell within the first week.
Townhouses and Condos: Two Different Stories
Townhouses have shown steady sales growth, with 112 transactions in May, double the number in March. Prices have softened slightly compared to April but remain above March levels.
On the other hand, condos continue to face challenges. With nearly 7,000 active listings, the segment has hit a record high for inventory. While May brought close to 1,000 condo sales, it's not enough to absorb the growing supply. As a result, prices have remained flat, and units are taking an average of 30 days to sell.
In areas like C01 (downtown) and C08 (east of Yonge), sellers need to be especially strategic. Condos must stand out—looking exceptional and priced competitively. Buyers comparing multiple similar units are gravitating toward the best-priced option.
Key Takeaways for Buyers and Sellers
Buyers: You have more options than ever, especially in the condo market. Be selective—look for well-priced properties that are move-in ready.
Sellers: Presentation and pricing are critical. Homes that show well and reflect fair market value are selling quickly, particularly in the semi-detached and townhouse segments.
As we head into the summer, all eyes are on how the market will respond to sustained interest rate stability and growing inventory. Whether you're planning to buy or sell, understanding these local trends can help you make a confident and informed decision.
Sales Are Down, But That’s Not the Whole Picture
May 2025 saw approximately 2,300 sales in the City of Toronto, which is notably down compared to 2023 and 2024. However, sales are nearly aligned with numbers from May 2022—the peak of the market.
While the average price has dropped about 3% from last year and nearly $100,000 from May 2022, the situation is more complex than a simple downturn. As interest rates stabilized over the past few months—with no changes in the last three announcements—prices have started to show signs of modest recovery.
Inventory Is Growing
Active listings in the GTA are up 40%, with Toronto just surpassing 30,000 active listings—the highest recorded by the Toronto Real Estate Board. This increased inventory has contributed to the current five months of housing supply, a significant shift compared to previous years.
Despite this, monthly sales in May were the highest so far this year, nearly doubling January's numbers. This indicates buyer interest remains strong, though it’s more concentrated in specific market segments.
Detached and Semi-Detached Homes: Quality and Pricing Matter
In the detached home segment, both sales and prices rose slightly from April. However, many listings require extensive renovations that most buyers can’t undertake or finance. As a result, these properties linger on the market.
Properties that are move-in ready, well presented, and priced appropriately are the ones selling. In May, there were 781 detached home sales, and the successful ones were priced where they should be and looked the part.
Semi-detached homes remain one of the city’s most competitive markets. With 618 active listings, double what was seen in February, the pattern is clear: homes that look great, are priced correctly, and show well tend to receive multiple offers—typically four to six—and sell within the first week.
Townhouses and Condos: Two Different Stories
Townhouses have shown steady sales growth, with 112 transactions in May, double the number in March. Prices have softened slightly compared to April but remain above March levels.
On the other hand, condos continue to face challenges. With nearly 7,000 active listings, the segment has hit a record high for inventory. While May brought close to 1,000 condo sales, it's not enough to absorb the growing supply. As a result, prices have remained flat, and units are taking an average of 30 days to sell.
In areas like C01 (downtown) and C08 (east of Yonge), sellers need to be especially strategic. Condos must stand out—looking exceptional and priced competitively. Buyers comparing multiple similar units are gravitating toward the best-priced option.
Key Takeaways for Buyers and Sellers
Buyers: You have more options than ever, especially in the condo market. Be selective—look for well-priced properties that are move-in ready.
Sellers: Presentation and pricing are critical. Homes that show well and reflect fair market value are selling quickly, particularly in the semi-detached and townhouse segments.
As we head into the summer, all eyes are on how the market will respond to sustained interest rate stability and growing inventory. Whether you're planning to buy or sell, understanding these local trends can help you make a confident and informed decision.
