Toronto home sales are way up while condo prices are way down
A new report says competition and transactions will spike in the second half of the year
In June, GTA home sales increased by more than nine per cent compared with the same period last year, as Toronto condo prices fell by nine per cent, according to a new report.
The Toronto Regional Real Estate Board (TRREB) says the market for homes of all categories, including condos, reported 6,770 sales compared with 6,191 last June. New listings were down 12.9 per cent year-over-year.
“After a slow start in the first quarter, we saw a marked improvement over the last three months,” said TRREB president Daniel Steinfeld. “We expect accelerating transactions and more competition between buyers in the last six months of the year, helping to satisfy pent-up demand and ultimately resulting in renewed price growth.”
The average selling price for homes in the GTA was down in June year-over-year, said Jason Mercer, TRREB’s chief information officer. But that decline has halted over the past few months, and Mercer said selling prices could be more in line with 2025 in the second half of the year.
Meanwhile, Toronto condo prices were down nine per cent last month compared with June of 2025, falling by an average of $665,760. But there’s some good news for that sector as well: perhaps due to this price adjustment, condo sales last month were 14.3 per cent higher year-over-year.
