09/05/2025
Home sales through the summer month of August reported by the Toronto Regional Real Estate Board(TRREB) were up on a year over year basis. Home buyers benefitted from an even larger increase in the inventory of listings with average selling prices continuing to be negotiated downward due to the elevated number choices throughout the market.
There were 5,211 home sales reported through TRREB’s MLS System in August 2025, up by 2.3% compared to August 2024. The total number of new listings were up 22.4% to a total of 27,495 available homes for sale of all home types.
More choice has put further pressure on prices with the average selling price of $1,022,143, down by 5.2% compared to August 2024. Months of inventory remained in a buyers market with over 5 months of available homes of all types.
TRREB’s Chief Information Officer Jason Mercer reported that even with lower borrowing costs and selling prices over the past year, further relief in lending costs is required to see an increased number of buyers move off the sidelines to take advantage of today’s well-supplied market.
The condominium market has seen some consistency over the past few months with sales averaging approximately between 1400 to 1500 per month. However, a record number of new condominium deliveries continue to fuel the over supply of this home type, putting downward pressure on prices, down 4.2% over August last year.
Saeed Vazan
Real Estate Broker
4167003048
