Home sales in the Greater Toronto Area experienced an 11.2% decline in the previous year compared to 2024, as indicated by a recent report unveiled on Wednesday. According to the Toronto Regional Real Estate Board (TRREB) in its December Market Watch report, economic uncertainty negatively impacted consumer confidence in 2025. The report highlights that listing inventory remained high during this period, leading to negotiable selling prices that helped enhance affordability.
In 2025, real estate agents in the GTA recorded a total of 62,433 home sales through TRREB’s MLS system. The number of new listings surged by 10.1% year-over-year to reach 186,753. The average selling price for the year was $1,067,968, marking a 4.7% decrease from the previous year’s average of $1,120,241.
TRREB President Daniel Steinfeld mentioned that the housing market in the GTA became more accessible in the past year due to reduced selling prices and mortgage rates. He expressed optimism that the improved affordability would pave the way for market recovery, anticipating a surge in sales once economic stability is perceived by households.
Nevertheless, TRREB CEO John DiMichele emphasized the necessity for tax relief from government entities to alleviate the cost of living. DiMichele stressed the importance of fair tax policies to support households, restore consumer trust, and bolster the economy.
TRREB’s Chief Information Officer Jason Mercer suggested that federal initiatives aimed at enhancing the economy could positively impact the GTA housing market. Mercer highlighted the significance of reaffirmed trade relationships and large-scale domestic economic projects in boosting home sales in the region.
Specifically, in December 2025, home sales witnessed an 8.9% decrease compared to the same month in 2024, with 3,697 reported transactions. New listings in the MLS system for December amounted to 5,299, showing a 1.8% year-over-year increase. The average selling price in December 2025 was $1,006,735, reflecting a 5.1% drop from the previous December.
The report also indicated a slight month-over-month decline in December home sales compared to November 2025 on a seasonally adjusted basis, while new listings recorded an increase during the same period.