New listings in GTA down as home sales drop slightly from same time in 2025
· Toronto Sun
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GTA home sales were slightly lower in July compared to the same time last year, while new listings were down substantially, which the Toronto Regional Real Estate Board says suggests active homebuyers faced more competition.
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The Greater Toronto Area reported 5,995 home sales in July, a slight decrease of 0.9% compared to July 2025, while there were 14,484 new listings, down by 17.8% year-over-year.
TREBB says if this trend continues, average selling prices could level off in the second half of this year.
“With sales accounting for a larger share of listings, buyers may find there is less room to negotiate moving forward,” TRREB president Daniel Steinfeld said in a statement.
“ If current trends continue , home prices could start to level off compared to last year. Many would-be homebuyers are waiting for confidence in the market and broader economy to improve before making a purchase. This includes more clarity on tariffs, inflation and borrowing costs.”
On a seasonally adjusted basis, July home sales were up month-over-month compared to June, while new listings were down, which means market conditions continued to tighten during the summer.
News ‘more positive than expected’
“While uncertainty about the economy and borrowing costs persists, recent news has been more positive than expected,” said TRREB chief information officer Jason Mercer.
“The latest readings on economic growth and jobs surprised to the upside. This could help bolster consumer confidence and prompt an uptick in home purchases in the months ahead, especially if home prices stabilize as we move through the fall.”
The MLS Home Price Index composite benchmark was down by 4.6% year-over-year in July and the average selling price at $1,003,956 was down by a similar annual rate of 4.5%.
“Removing remaining municipal roadblocks to attainable housing is a pressing issue in the GTA and Simcoe County,” said TRREB CEO John DiMichele.
“Restrictive zoning, outdated rules, high taxes and fees, and approval delays are making housing more expensive and are key issues in the upcoming municipal election. They add tens of thousands of dollars to the cost of every home and need to be reformed.”