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More Homes, Lower Prices? What TRREB Market Watch Tells Us about March, 2025.

April 3, 2025
More Homes, Lower Prices? What TRREB Market Watch Tells Us about March, 2025. main image

More Affordable Homes, More Choices, and a Market in Transition


đź’¸ A More Affordable Landscape for Buyers

Homeownership in the Greater Toronto Area (GTA) became more affordable in March 2025 compared to the same time last year. With both borrowing costs and average home prices trending downward, monthly mortgage payments are now more manageable for buyers entering the market.

TRREB President Elechia Barry-Sproule explained:

“Homeownership has become more affordable over the past 12 months, and we expect further rate cuts this spring. Buyers will also benefit from increased choice, giving them greater negotiating power.”


📉 Sales Slow Down, Listings Rise

While affordability improved, market activity saw a shift:

  • 5,011 homes were sold, a 23.1% drop compared to March 2024.
  • 17,263 new listings were added, up 28.6% year-over-year.

This points to a classic shift toward a buyer’s market — more listings, fewer competing offers, and increased room to negotiate.

Jason Mercer, TRREB’s Chief Information Officer, added:

“Given the current trade uncertainty and the upcoming federal election, many households are likely taking a wait-and-see approach to home buying.”


đź’° Price Trends: Down Year-Over-Year, Stable Month-to-Month

  • MLS® Home Price Index Composite Benchmark:
    ↓ 3.8% year-over-year
  • Average Selling Price:
    $1,093,254 ↓ 2.5% year-over-year
  • Seasonally adjusted:
    Benchmark dipped, while average price held steady

Although prices are down compared to last year, they remained relatively stable from February to March — a sign the market may be bottoming out.


🧭 What to Know as a Buyer or Seller in Today’s Market

For Buyers:

  • Lower mortgage payments and more listings improve buying conditions
  • More negotiating power = less pressure to make quick decisions
  • Still a good time to secure value before rates or prices shift again

For Sellers:

  • More competition from other listings means pricing and presentation matter more than ever
  • Market-savvy buyers expect transparency and fair value
  • Properties in prime locations or priced right are still attracting interest

🗳️ Policy & Election Outlook: Eyes on Housing

TRREB CEO John DiMichele shared that housing remains a top issue for all federal parties, reflecting public concerns about affordability and supply. How the upcoming election and trade policies evolve may influence confidence and activity in the months ahead.


🔍 Market Summary – March 2025 at a Glance

  • The GTA real estate market is shifting into a more balanced-to-buyer-friendly phase.
  • Homeownership became more affordable thanks to lower prices and borrowing costs.
  • While sales dropped compared to last year, there are significantly more listings, giving buyers options.
  • Prices dipped year-over-year but held steady month-to-month, suggesting a stabilizing trend.
  • Economic uncertainty and the federal election are influencing buyer psychology.
  • It’s a time for strategic decision-making — both buyers and sellers can succeed with the right guidance.

📢 Need help making sense of your next move in this market? Whether you’re planning to buy or sell, I’m here to help you navigate with clarity and confidence.

Have feedback or questions? Please drop an email to Opel Ou, Real Estate Broker: opel@opelou.com

#TorontoRealEstate #TRREB #GTAMarketUpdate #March2025Homes #BuyerOpportunities #TorontoHousing #AffordableToronto #RealEstateTrends #HousingMarketUpdate #GTAHomes #RealEstateBroker #Realtor #OpelOu

Source: TRREB – Market Watch

March 2025 – Market Statistics – Quick Overview

Residential Statistics

Commercial Statistics(Q3 2024)

Condominium Sales Statistics(Q4 2024)

Condominium Rental Statistics(Q4 2024)

* **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**

Source: Housing Market Chart Archive – The Toronto Regional Real Estate Board (TRREB)

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