The Toronto and GTA Housing Market: June 2025 by the Numbers

The Toronto and GTA market is finding its feet again. That is the honest read on June, and after six full months of the year it is worth slowing down and looking at the numbers instead of the headlines. I am Moe Asgarian, Principal Real Estate Broker in Toronto and ranked #47 worldwide at RE/MAX.

Let me walk you through what June actually told us about houses and condos across Toronto and the GTA, a market plenty of people are nervous about, but one where real things are still happening.

What June's sales numbers show

In June, 6,243 homes changed hands across the GTA. That is 2.4% fewer than June of last year, which sounds like bad news until you compare it to the month before. Sales were up 8.1% from May, and that month over month move matters. On our own team, June felt busier than May, especially with first-time buyers stepping in to use this market. It is not hot. But it is not frozen either.

Toronto city versus the 905

The city of Toronto held up better than the surrounding regions. Inside the city, 2,319 homes sold, up 3.5% from June last year. Out in the rest of the GTA, sales fell 5.6% to 3,924. By property type, townhouses took the biggest hit with sales down 4%, followed by detached houses down 2.9%, condos down 2.5%, and semis down 7%. Different corners of this market are moving at different speeds.

Prices and the discounts buyers are getting

Prices came down too. The average selling price in June was about 5.4% lower than a year ago, landing near $1,001,000. The benchmark price, closer to a typical home, was down 5.5%. Meanwhile new listings rose 7% to 19,839. If you trust this market, that combination means options.

Last month we bought homes for our clients at 5% to 10% below asking. In one case a home listed at $1,049,000 and we closed at $1,000,000. In another, a home first listed at $4,300,000 and we bought it for $3,790,000. There is room to negotiate right now.

Why supply is the real story

Active listings reached 31,603, up 30% from last June. That is a big number, and it is the heart of the problem: homes are sitting longer and buyers are not there in the numbers to clear them. But June brought a small shift. For four straight years, sales dropped from May to June: down 7% in 2021, 11% in 2022, 17% in 2023, and 11% in 2024. This year May and June were essentially level, with no drop at all. And after five straight months of double-digit growth in active listings, the pace of that growth finally slowed for the first time in June.

The tariff question and the long view

So what is holding this market back? Cheaper borrowing was supposed to heat things up this year, and early on it was. Then the tariff fight with the United States started, and roughly six months in, it is the uncertainty that is weighing on buyers. Canada's housing minister has said the trade war is pushing up the cost of building homes. My read is that confidence does not fully return until this tariff question is settled, along with where interest rates land by the end of July.

Short term, the picture is soft. But short-term investing and long-term investing are two different things. Experts are forecasting strong price growth in Canada through 2030, and by then the tariff issue is almost certainly behind us. If you want to talk through what this market means for your own buy or sell, fill out the form at the bottom of this page or book a free consultation. Stay well and take care.