Affordability Improves as Buyers Regain Control – May 2025 TRREB Market Watch
June 5, 2025
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📊 Market Overview: Buyers Find Their Footing in a More Affordable GTA
The May 2025 TRREB Market Watch reveals a shift in the Greater Toronto Area (GTA) housing market, favoring buyers. Sales are down 13.3% year-over-year, while new listings rose 14%, giving buyers more options and stronger negotiation power.
With lower average selling prices and borrowing costs compared to 2024, affordability has improved, but market confidence is still being held back by economic uncertainty and trade concerns.
🔄 Sales vs. Listings: Supply Rising, Demand Hesitant
6,244 home sales reported in May, down from 7,199 in May 2024
21,819 new listings, a 14% YoY increase
On a seasonally adjusted basis, sales were up compared to April, marking the second straight month of increase
This widening gap between listings and sales has led to looser market conditions in many GTA neighbourhoods.
“Buyers have benefited from greater choice and improved affordability this year… but local expertise is critical,” – TRREB President Elechia Barry-Sproule
💸 Prices: Still Down from Last Year, But Stabilizing
Average Price: $1,120,879 (↓ 4% YoY)
MLS® HPI Benchmark: ↓ 4.5% YoY
Month-over-Month (seasonally adjusted): Small price gains over April
Detached and condo apartments saw the largest annual price declines, particularly in the 416 region.
* **In conjunction with TRREB’s redistricting project, historical data may be subject to revision moving forward. This could temporarily impact per cent change comparisons to data from previous years**
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