The Greater Toronto Area housing market demonstrated signs of renewed activity in May 2025, with the Toronto Regional Real Estate Board (TRREB) reporting a total sales volume of just under $7 billion. Average prices across all home types came in at $1,120,879, and notably, home sales rose 8.4% month over month. While the market remains far below the peak activity levels seen in earlier decades, this recent increase marks a meaningful shift in momentum after a more subdued period.
GTA-Wide Snapshot
In May 2025, there were 21,819 new listings across the GTA, contributing to a total of 30,964 active listings by the end of the month. Properties sold at an average of 99% of their list price and typically remained on the market for just under 24 days. With an estimated 6,244 sales during the month (based on total dollar volume and average price), the sales-to-new listings ratio suggests a balanced market leaning modestly toward seller-friendly conditions. The average months of inventory was 3.5.
Regional Highlights
Toronto accounted for the largest portion of sales volume in May, totalling approximately $2.68 billion, with an average home price of $1,155,616. Homes in the city stayed on the market for about 26.6 days on average and typically sold for 98.4% of the list price. York Region followed closely behind with $1.29 billion in sales and the highest average home price among all sub-regions at $1,282,040. Simcoe County also reported strong pricing with an average of $1,237,499 across nearly $989 million in sales.
Durham Region continued to draw buyers with an average price slightly above $1 million and a sales volume exceeding $1 billion. Peel and Halton regions offered slightly more accessible pricing, with average home prices of $905,702 and $938,521, respectively, while still maintaining respectable volumes. Dufferin County remained the smallest market in terms of sales activity, with a total sales volume of $32.2 million and an average home price of $766,862.
A Return to Market Activity
A notable development is the 8.4% increase in the GTA home sales compared to last month. While this growth does not bring sales back to the peaks seen in the early 2010s, it does represent a step away from the sluggishness that has been seen more recently. This growth is also occurring alongside elevated inventory levels and still-high prices.
Increased Listing Activity
The number of new listings in the GTA was notably higher than historical benchmarks for the same month. For context, new listings in May 2011 totalled 19,782 and 14,848 in May 2012. The 21,819 new listings recorded in May 2025 reflect a more dynamic market environment.
Pricing
The average selling price for all home types combined in the GTA for May 2025 was $1,120,879. While the average selling price in May 2025 was down by 4.0% compared to May 2024, when the average price was $1,167,646, there was a month-over-month increase in average selling price from April 2025 to May 2025. The average price edged up in May compared to April 2025, on a seasonally adjusted basis. This follows a similar increase from March 2025 ($1,092,488) to April 2025 ($1,107,858), marking the second consecutive monthly increase for the average selling price.