The Greater Toronto Area (GTA) housing market delivered some eye-opening numbers in August 2025. Prices, sales activity, and inventory levels all showed significant shifts that will shape the fall market ahead. Here’s what you need to know.
Home Prices Hit a Four-Year Low
For the first time since 2020, the average GTA sale price reached its lowest point, not just for August, but across all months of the year. Detached homes saw a 10% year-over-year decline, while condos recorded a 2% drop.
At first glance, these numbers suggest steep declines, but there’s more to the story. Many higher-value detached homes didn’t go to market in August, likely holding back for the fall. Similarly, in the condo market, lower-priced units are making up more of the sales, which can pull down the average.
Condos Take the Lead
Condos accounted for half of all GTA sales in August. After months of slower activity, particularly in the lower price ranges, buyers have returned. While prices are down, transaction volume is up compared to July, signaling renewed interest.
Inventory Trends Paint a Split Picture
Detached and semi-detached homes are showing the highest months of inventory so far in 2025, meaning supply is building up faster than sales are clearing it out. In contrast, key condo districts in downtown Toronto (C01 and C08) recorded the lowest inventory levels of the year.
This imbalance highlights how different property types are moving at different speeds. Detached homes are waiting for fresh fall listings to reset the market, while condos—especially in the core—are being absorbed more quickly.
Fewer Listings in August
August brought roughly 3,000 fewer listings compared to May, June, and July. One notable change this year: many properties that expired in July did not immediately re-list in August. Sellers appear to be holding off for what they expect to be a more active fall season.
Affordability Has Improved
One of the most important takeaways is affordability. With both prices and interest rates down compared to a year ago, monthly payments have eased. Buyers today are seeing the most favorable conditions in three years.
What to Watch This Fall
August 2025 marked a turning point for Toronto real estate. Lower prices and improved affordability are opening the door for buyers, while inventory patterns set the stage for a busy fall market. Whether you’re considering buying, selling, or simply tracking the market, the months ahead will be critical in shaping where GTA housing goes next.
Home Prices Hit a Four-Year Low
For the first time since 2020, the average GTA sale price reached its lowest point, not just for August, but across all months of the year. Detached homes saw a 10% year-over-year decline, while condos recorded a 2% drop.
At first glance, these numbers suggest steep declines, but there’s more to the story. Many higher-value detached homes didn’t go to market in August, likely holding back for the fall. Similarly, in the condo market, lower-priced units are making up more of the sales, which can pull down the average.
Condos Take the Lead
Condos accounted for half of all GTA sales in August. After months of slower activity, particularly in the lower price ranges, buyers have returned. While prices are down, transaction volume is up compared to July, signaling renewed interest.
Inventory Trends Paint a Split Picture
Detached and semi-detached homes are showing the highest months of inventory so far in 2025, meaning supply is building up faster than sales are clearing it out. In contrast, key condo districts in downtown Toronto (C01 and C08) recorded the lowest inventory levels of the year.
This imbalance highlights how different property types are moving at different speeds. Detached homes are waiting for fresh fall listings to reset the market, while condos—especially in the core—are being absorbed more quickly.
Fewer Listings in August
August brought roughly 3,000 fewer listings compared to May, June, and July. One notable change this year: many properties that expired in July did not immediately re-list in August. Sellers appear to be holding off for what they expect to be a more active fall season.
Affordability Has Improved
One of the most important takeaways is affordability. With both prices and interest rates down compared to a year ago, monthly payments have eased. Buyers today are seeing the most favorable conditions in three years.
What to Watch This Fall
- New listings: Expect an increase in both detached homes and condos as sellers return to the market.
- Buyer activity: Many buyers have already seen the existing inventory and are waiting for fresh options.
- Affordability: Current lower payments may continue to attract buyers, especially in the condo segment.
August 2025 marked a turning point for Toronto real estate. Lower prices and improved affordability are opening the door for buyers, while inventory patterns set the stage for a busy fall market. Whether you’re considering buying, selling, or simply tracking the market, the months ahead will be critical in shaping where GTA housing goes next.
