A Look Back: How the GTA Market Performed in 2025 vs. 2024

When comparing full-year results for 2025 against 2024, the data tells a clear story: 2025 was a year of continued adjustment for the Greater Toronto Area housing market. While some stabilization emerged later in the year, overall activity slowed, inventory expanded, and pricing softened as buyers and sellers worked through affordability challenges and changing market dynamics.

Sales activity declined year over year, with 24,048 properties sold in 2025, compared to 26,207 in 2024. This reduction reflects a market where many buyers remained cautious, particularly during periods of higher borrowing costs and increased economic uncertainty. At the same time, sellers were more active. New listings rose to 67,600 in 2025, up from 59,201 the year before, meaning buyers had more choice and faced less competition across most segments.

Pricing trends further underscore the recalibration that took place. The average sale price fell to $1.35M in 2025, down from $1.43M in 2024, while the average asking price declined from $1.69M to $1.62M. These shifts suggest that sellers increasingly adjusted expectations to meet market realities, particularly in areas experiencing higher inventory levels.

Homes also took longer to sell. The reported average days on market increased to 26 days in 2025, up from 22 days in 2024, pointing to slower absorption. That said, this statistic should be used with caution. MLS days on market resets when a listing is terminated and relisted, meaning it does not fully capture how long some properties are truly available. When relistings are factored in, the actual time to sell is often significantly longer, reinforcing the importance of accurate pricing and strong initial positioning.

Negotiation dynamics shifted as well. The average ask-to-sell ratio declined to 99.4% in 2025, down from 101.1% in 2024, indicating fewer bidding scenarios and more room for buyers to negotiate. Homes were far less likely to sell above asking, particularly outside of the most desirable neighbourhoods and property types.

Taken together, the full-year comparison highlights 2025 as a market still in transition. Higher inventory, softer pricing, and increased buyer leverage defined much of the year, setting the stage for the more measured and selective environment now emerging as we move into 2026.