August home sales reported by the Toronto Regional Real Estate Board (TRREB) were up on a year-over-year basis. Over the same period, home buyers benefitted from an even larger increase in the inventory of listings. Average selling prices continued to be negotiated downward due to the elevated choice across market segments.

“Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits,” said TRREB President Elechia Barry-Sproule.

Greater Toronto Area (GTA) REALTORS® reported 5,211 home sales through TRREB’s MLS® System in August 2025 – up by 2.3 per cent compared to August 2024. New listings entered into the MLS® System amounted to 14,038 – up by 9.4 per cent year-over-year.

On a seasonally adjusted basis, August home sales edged lower month-over-month compared to July 2025. In contrast, new listings increased compared to July, reaffirming that buyers continue to benefit from a well-supplied market.

The MLS® Home Price Index Composite benchmark was down by 5.2 per cent year-over-year in August 2025. The average selling price, at $1,022,143, was also down by 5.2 per cent compared to August 2024. On a month-overmonth seasonally adjusted basis, the MLS® HPI Composite and average selling price remained flat compared to July.

“A household earning the average income in the GTA is still finding it challenging to afford the monthly mortgage payment associated with the purchase of an average priced home. This is even with lower borrowing costs and selling prices over the past year. Further relief in borrowing costs would see an increased number of buyers move off the sidelines to take advantage of today’s well-supplied market,” said TRREB Chief Information Officer Jason Mercer.

“New, large scale infrastructure projects, including affordable housing, public transit, ports and shipbuilding will be important for sustaining Canada’s economic sustainability in the medium-to-long term. However, in the short term, spurring consumer spending on large ticket items like housing could lead recovery, as it has in previous economic cycles,” said TRREB Chief Executive Officer John DiMichele.

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