🏙️ Toronto Real Estate Market Update – March 2025

More Affordable, More Choice — But Buyers Are Holding Back

TORONTO, ON – April 3, 2025 — The GTA real estate market in March delivered a rare mix: greater affordability 📉 and more inventory 🏠 — a scenario many homebuyers dream of. But despite the buyer-friendly landscape, many are holding off, watching how the economy and upcoming federal election unfold.

📉 Sales Drop, but Buyer Opportunity Rises

GTA REALTORS® reported 5,011 home sales through TRREB’s MLS® System in March 2025 — a 23.1% decrease compared to March 2024. On a seasonally adjusted basis, sales also dipped compared to February 2025.

At the same time, new listings surged to 17,263, up 28.6% year-over-year, giving buyers more options than they’ve seen in quite some time. 🏘️

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

💰 Prices Reflect the Shift

• MLS® Home Price Index Composite Benchmark:

📉 Down 3.8% YoY

📉 Down MoM (seasonally adjusted)

• Average Selling Price:

💲$1,093,254

🔻 Down 2.5% YoY

➖ Flat MoM (seasonally adjusted)

This drop in pricing, along with declining borrowing costs, has improved affordability across the board — making this spring a potentially strategic entry point for savvy buyers.

🤔 Why Are Buyers Waiting?

According to TRREB’s Chief Information Officer Jason Mercer:

“Given the current trade uncertainty 🌐 and the upcoming federal election 🇨🇦, many households are likely taking a wait-and-see approach. If trade issues are solved or public policies ease the impact of tariffs, we’ll likely see an uptick in sales.”

⚠️ Confidence Is Key

It’s not just about rates and prices — job security and economic outlook are front-of-mind for buyers committing to long-term mortgage payments.

“Home buyers need to feel their employment situation is solid before committing,” Mercer added.

🧱 Housing Supply: A Political Priority

TRREB CEO John DiMichele emphasized that housing remains a top priority across federal party platforms:

“Access to affordable housing remains top-of-mind for Canadians. Building that housing will be a key economic driver moving forward.”

🔍 Final Thoughts

✔️ More listings

✔️ Lower prices

✔️ Rate cuts expected

❌ But buyers remain hesitant

If you’re a buyer, the math is starting to make sense. If you’re a seller, positioning and strategy are more important than ever.

Thinking of making a move in the GTA? Let’s talk about how to make today’s market work for you. 📲🏡