A Summer Shift: More Supply, Improved Affordability

The Toronto Regional Real Estate Board (TRREB) has released its housing data for June 2025. With more listings, softer prices, and a drop in borrowing costs, housing affordability has improved compared to this time last year.

A total of 6,243 sales were reported through the MLS system — down 2.4% from June 2024. New listings climbed to 19,839, up 7.7% year-over-year, while active listings reached 31,603, a 30.8% annual increase that pushed inventory levels to 5.06 months.

Buyers continue to benefit from a more advantageous market. More inventory and softer prices have meant more choice and better negotiating power. The average selling price across the GTA was $1,101,691, down 5.4% year-over-year and 1.7% month-over-month. Similarly, the MLS Home Price Index (HPI) Composite Benchmark fell 5.54% across the region and 4.43% within the City of Toronto.

Homes are taking a bit longer to sell, with days on market rising to 26, and properties selling for an average of 98% of the list price. Most transactions — 69.2% of sales — were in the $600,000 to $1.5 million range, while 6.7% of sales topped $2 million.

Detached homes continue to lead the way, making up 48.2% of all sales in June, followed by condo apartments at 24.2%, semi-detached at 9.6%, and townhomes at 9.1%.

Here’s the average price breakdown by property type:                                                                                                    
• Detached: $1,392,033 (-6.0% Year over Year/-2.3% Month over Month)
• Semi-detached: $1,089,751 (-1.0% YoY/-0.8% MoM)
• Townhomes: $871,652 (-6.3% YoY/-3.6% MoM)
• Condo apartments: $696,424 (-4.4% YoY/+1.9% MoM)

Overall, the Greater Toronto Area market continues to show signs of recovery. More supply is giving buyers the breathing room to shop around, negotiate better deals, and lock in purchases with borrowing costs that are lower than a year ago. Still, uncertainty around trade relations with the U.S. has kept some would-be buyers on the sidelines. A firm trade deal will go a long way to shoring up confidence.

If you’re thinking about a move this summer, let’s talk. Whether buying, selling, or just exploring your options, a trusted Harvey Kalles Real Estate advisor is here to help you make the most of this season’s market. Since 1957, we’ve guided clients through every type of real estate cycle — and this summer is no different.