Home Sales Slide and Prices Soften

The Greater Toronto Area housing market saw a notable cooling down in April 2025, as buyers responded to a growing pool of listings and improved affordability. 

According to the April Toronto Regional Real Estate Board report, 5,601 homes were sold, down 23.3% from April 2024, while new listings rose 8.1% year-over-year to 18,836. The average selling price across all home types dipped 4.1% annually to $1,107,463. 

With borrowing costs easing and new federal programs for first-time buyers taking effect, more households found monthly mortgage payments within reach.

“Following the recent federal election, many households across the GTA are closely monitoring the evolution of our trade relationship with the United States. If this relationship moves in a positive direction, we could see an uptick in transactions driven by improved consumer confidence and a market that is both more affordable and better supplied,” said TRREB President Elechia Barry-Sproule.

Market Leadership Shifts as Detached Homes Hold Their Ground

Detached properties continued to lead the market in April, accounting for 45.6% of all GTA transactions. A total of 2,556 detached homes sold, with an average price of $1,431,495.  Despite a 21.7% decline in sales compared to last year, home sales increased month over month, increasing from 5,011 in March to 5,601 in April—an 11.77% gain, or 590 additional transactions. Regionally, price trends varied: the average price of a detached home in Toronto dipped 1.3% to $1,700,710, while prices in the 905 area held steady at $1,324,280.

Condos and Townhomes See Sharper Corrections

Condo apartments and townhouses posted steeper sales declines in April. Condo sales dropped 30.4% year-over-year, with Toronto down 29.9% and the 905 area down 31.5%. Prices followed suit: condos averaged $710,724 in the 416 and $618,196 in the 905. Despite the slowdown, condos remained the second most-traded property type, especially in the $500,000–$699,999 price bracket. Townhouse sales fell 22.9%, with volume and prices softening across the region. One bright spot: Toronto’s semi-detached homes saw a 5.4% annual increase in sales, reflecting targeted demand for mid-density housing in core urban areas.

Time on Market Highlights Regional Differences in the GTA 

The spring market brought contrasting trends across the GTA regarding how long homes stayed on the market. In many regions, homes sold faster than in March despite the influx of new listings. 

Halton Hills saw a significant boost in market activity, with the Average Property Days on Market (PDOM) dropping from 37 days in March to 27 days in April—a 27.03% decrease. Homes are selling faster, a strong indicator of rising buyer demand and growing confidence in the local market. Milton also showed impressive momentum, with PDOM falling from 29 to 24 days—a 17.24% decline. This is especially noteworthy because homes are selling more quickly even as inventory nearly doubled, pointing to a high level of buyer engagement and sustained competition in the area. 

In contrast, signs of softening demand emerged in Mississauga. Active listings rose by 17.21% month over month, while sales increased by a more modest 7.22%. At the same time, the average sale price dropped by 5% to $993,959—bringing it below the $1M mark. This suggests a more balanced market, where buyers may have slightly more negotiating power.

Outlook: Inventory-Driven Market Meets Measured Demand

“Inventory levels remained elevated historically in April, pointing to substantial choice for households looking to purchase a home in the GTA. Buyers took advantage of this choice when negotiating purchase prices, which resulted in a lower average price across market segments compared to last year,” said TRREB Chief Information Officer Jason Mercer. 

Detached homes and condo apartments remain the dominant property types, accounting for 45.6% and 25.5% of total sales, respectively. As the market continues to adjust, April’s data points to an inventory-driven environment where affordability, buyer sentiment, and regional performance will determine the pace heading into summer.