In August 2025, the City of Toronto recorded 1,779 home sales—a 19.3% drop from July’s 2,205 transactions. New listings also declined, with 4,538 added in August, down 24.5% from 6,008 in July. Active listings tightened as well, falling 12.3% month-over-month from 10,993 to 9,644.
Despite these decreases, the months of inventory held steady at 4.7, showing no month-over-month change, meaning buyers still have inventory to choose from in today’s market. Overall, Toronto’s housing market remained balanced in August, even with fewer sales and fewer new listings.
The average selling price across all home types in the Toronto region fell by 5.2% annually to $1,022,143, further extending buyers’ negotiating power. Although borrowing costs are lower than last year, affordability challenges remain for many households. “Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits,” said TRREB President Elechia Barry-Sproule.
As Condo Supply Expands, Buyers Take Their Time
Condo apartments continued to represent a significant share of GTA market activity in August, but elevated inventory levels maintained conditions in buyers’ favor. In the City of Toronto, 890 units were sold at an average price of $667,660. New condo listings totaled 2,654, contributing to almost half of active listings by month’s end. With this level of supply, units spent an average of 38 days on the market.
Across all TRREB regions, 1,369 condos changed hands at an average price of $642,195, with a median price of $565,000. Active listings rose to 9,105, and the average days on market extended to 40.
The abundance of choice is shaping buyer behavior. Rather than rushing to compete, purchasers are evaluating more carefully and negotiating more assertively. For first-time buyers and investors, the condo segment offers opportunities not only in price but also in selection — yet whether this translates into stable pricing or further declines will depend on how quickly demand can absorb the current supply.
Detached Homes Show Renewed Interest Amid Price Adjustments
Detached homes continued to command the highest prices across the GTA in August, averaging $1,524,066. While this marked a 10% decline compared to last year, detached properties remained the most active segment of the market, with 2,411 transactions representing 46.3% of all sales. This suggests that recent price adjustments are opening the door to a broader pool of buyers who may now see detached ownership as a more attainable option.
In the City of Toronto, detached homes sold for an average of $1,524,066, while those in the 905 region averaged $1,251,686, down 6.9% year-over-year. Even with softer pricing, demand in this category highlights the enduring appeal of detached living, as households continue to prioritize space, privacy, and long-term value in their purchasing decisions.
Balanced Shifts in Toronto, Sharper Corrections in Surrounding Markets
Beyond condos and detached properties, the broader market showed a mix of resilience and adjustment. Semi-detached homes averaged $1,131,498, a 6.1% decline from last year, while townhouses edged 1% higher to $915,511, reflecting steady demand in the family-oriented mid-market.
Regional differences were more pronounced in the 905 area, where semi-detached homes fell 4.9% to $896,407 and townhouses declined 5.1% to $846,289. Condo apartments in the 905 posted the sharpest correction, down 10.6% year-over-year to $594,881. Looking closely at these numbers, the affordability pressures and elevated supply are weighing more heavily on suburban markets, while pricing in Toronto proper has seen comparatively moderate shifts.
Toronto Market Holds Steady, but Sales Step Back
In August, Toronto homes took slightly longer to sell, with the average Listing Days on Market (LDOM) rising from 31 days in July to 34 days in August. Despite this shift, the Property Days on Market (PDOM) held steady at 35 days, showing consistency in the overall time homes spent on the market. While July’s results hinted at growing momentum and cautious optimism fueled by improving affordability, August’s slowdown signals a more measured market environment where buyers are still deliberate in their decisions.
Take a closer look at how listings, sales, and inventory changed month-over-month in other GTA markets.
City of Toronto: Balanced Market
- New Listings: 4,538 (-24.5% m-o-m)
- Sales: 1,779 (-19.3% m-o-m)
- Active Listings: 9,644 (-12.3% m-o-m)
- Months of Inventory: 4.7 (0% m-o-m)
Peel Region: Balanced Market
- New Listings: 2,969 (-16.0% m-o-m)
- Sales: 915 (-13.0% m-o-m)
- Active Listings: 5,498 (-7.2% m-o-m)
- Months of Inventory: 5.0 (+4.2% m-o-m)
York Region: Balanced Market
- New Listings: 2,611 (-23.2% m-o-m)
- Sales: 994 (-6.3% m-o-m)
- Active Listings: 5,382 (-8.4% m-o-m)
- Months of Inventory: 4.9 (0% m-o-m)
Halton Region: Balanced Market
- New Listings: 1,593 (-12.0% m-o-m)
- Sales: 640 (-10.5% m-o-m)
- Active Listings: 2,903 (-9.5% m-o-m)
- Months of Inventory: 4.1 (0% m-o-m)
Durham Region: Seller’s Market
- New Listings: 1,675 (-18.6% m-o-m)
- Sales: 676 (-20.7% m-o-m)
- Active Listings: 2,694 (-4.2% m-o-m)
- Months of Inventory: 3.1 (+3.3% m-o-m)
Affordability remains the key to recovery
“A household earning the average income in the GTA is still finding it challenging to afford the monthly mortgage payment associated with the purchase of an average-priced home,” said TRREB Chief Information Officer Jason Mercer, noting that this remains the case even with lower borrowing costs and more affordable sale prices compared to last year. Mercer emphasized that further relief in borrowing costs will be essential to encourage more buyers to move off the sidelines and take advantage of today’s well-supplied market.
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