Toronto home sales are the lowest in a quarter century

Toronto home sales have hit their lowest level in 25 years as prices continue to decline and supply increases. The Toronto Regional Real Estate Board (TRREB) said in its recent Market Watch Report that activity in the GTA dropped to 62,433 transactions in 2025, down 11.2 per cent from the previous year. Sales in the city have not been this low since 2000, when they sank to 61,000.

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Meanwhile, new listings were up 10.1 per cent in 2025, to 186,753, while the average selling price was down 4.7 per cent, to $1,067,968.

TRREB chief information officer Jason Mercer said in a statement that Canadians’ current financial situations—exacerbated by inflation and US tariffs—must improve before the market can follow suit. “Reaffirmed trade relationships and large-scale domestic economic development projects will be key for improved home sales moving forward,” Mercer said. “GTA households must be confident in their employment situation before committing to long-term monthly mortgage payments, even in this more affordable market.”

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Mercer encourages all levels of governments to provide tax relief to help ease the cost of living and provide “financial breathing room” so consumers can afford to buy. Unfortunately, the city did not seem to hear Mercer’s plea, as it recently announced an increase to its property taxes (albeit a relatively modest one).