Average House Price in Toronto

by The Canadian Magazine of Immigration · December 15, 2025

The average house price in Toronto is $951,700

Toronto house prices

In November 2025, Toronto’s average house price down by 5.8% compared to the year prior.

Average House Price in Toronto
	2023	2024	2025
January	$1,070,600*	$1,065,300*	$1,070,100
February	$1,089,300*	$1,093,200*	$1,073,900
March	$1,110,000*	$1,110,500*	$1,068,500
April	$1,139,100*	$1,067,200*	$1,009,400
May	$1,157,500*	$1,060,400	$1,012,800
June	$1,164,100*	$1,053,300*	$995,100
July	$1,154,600*	$1,037,200*	$981,000
August	$1,134,600*	$1,022,400*	$969,700
September	$1,120,200*	$1,015,900*	$960,300
October	$1,097,000*	$1,007,400*	$956,800
November	$1,074,700*	$1,010,300*	$951,700
December	$1,060,400*	$1,061,900
Source: CREA
*Updated

Housing Market in Toronto – November 2025

In November 2025, the Greater Toronto Area (GTA) housing market experienced a continued slowdown, with home sales dropping 15.8% year-over-year to 5,010 transactions, according to the Toronto Regional Real Estate Board (TRREB). The average selling price fell 6.4% from November 2024 to $1,039,458, while the MLS® Home Price Index composite benchmark declined 5.8% year-over-year to approximately $951,700, reflecting broader softening across property types including a 3.8% drop in condo apartment prices to $663,000. New listings also decreased, contributing to elevated inventory and longer days on market (averaging 56 days), as buyers remained cautious amid economic uncertainties despite lower borrowing costs from recent interest rate cuts. This buyer hesitation created favorable negotiating conditions, though experts noted potential for renewed confidence in 2026 if employment and trade stability improve.

Housing Market in Toronto – October 2025

In October 2025, the Toronto housing market remained firmly in buyer’s territory amid persistent economic uncertainty, elevated inventory, and cautious sentiment, with the Greater Toronto Area (GTA) recording 6,138 home sales—a 9.5% decline year-over-year from October 2024—despite a modest 9.8% monthly uptick from September. The MLS Home Price Index composite benchmark dipped 5.0% annually to $956,800, while the average selling price fell 4.7% to around $1,059,000, reflecting softer demand across all property types, including a 9.0% drop in detached home sales and 9.5% in condos, even as recent Bank of Canada rate cuts (seven since mid-2024, plus two more in September and October) improved affordability and lowered monthly mortgage payments for qualified buyers. New listings surged, pushing the sales-to-new-listings ratio to about 38%—well below the balanced 50% threshold—and extending average days on market to 29, allowing confident purchasers, often driven by life events rather than speculation, to negotiate modest discounts in a market where suburban areas and transit-adjacent neighborhoods showed slightly stronger activity than the urban core. Looking ahead, experts anticipate stabilization and moderate sales growth into 2026 as borrowing costs ease further, though trade tensions and softer job growth continue to sideline many potential buyers.

Housing Market in Toronto – September 2025

In September 2025, Toronto’s real estate market showed signs of stabilization amid a persistent buyer’s environment, with the Toronto Regional Real Estate Board (TRREB) reporting 5,592 homes sold across the Greater Toronto Area (GTA)—an 8.5% increase from September 2024 and a 2% rise on a seasonally adjusted basis from August—driven by the Bank of Canada’s recent interest rate cut that enhanced mortgage affordability and boosted buyer confidence.

However, average resale prices dipped to $960,300, down 5.5% year-over-year, while the MLS Home Price Index composite benchmark fell 5.5% annually, reflecting ongoing downward pressure from a sales-to-new-listings ratio (SNLR) of just 29%, signaling ample negotiating power for buyers.

Active listings surged 18.9% to 29,394 properties, particularly in the condo segment where prices averaged $563,100—a 8.1% annual decline—and inventory pressures mounted despite a slight month-over-month tightening to an SNLR of 38% in the city core.

Overall, the market’s modest sales rebound contrasted with softening prices and elevated supply, positioning Toronto for potential further moderation into late 2025 as economic uncertainties linger, though improving borrowing costs may temper steeper declines.

Housing Market in Toronto – August 2025

In August 2025, Toronto’s housing market remained firmly in buyer’s territory, characterized by declining prices and rising inventory amid economic headwinds like trade tensions, a fragile job market, and steady interest rates from the Bank of Canada. The average selling price across the Greater Toronto Area (GTA) dropped 5.2% year-over-year to $1,022,143, with the MLS Home Price Index Composite benchmark reflecting similar declines, driven by elevated supply that outpaced demand and led to downward negotiations on sales. Home sales through the Toronto Regional Real Estate Board’s MLS system totaled 5,211, marking a modest 2.3% increase from August 2024, bolstered by gains in detached (up 8.7%), semi-detached (up 3.3%), and freehold townhome (up 9.1%) segments, though condo sales fell 3.4% annually; the city’s Sales-to-New-Listings Ratio (SNLR) hovered at 39%, just shy of the balanced market threshold of 40%. Median days on market stood at 20 days, signaling quicker turnovers despite the slowdown, while forecasts from sources like CMHC and RBC predict further national price softening of around 2% for the year, with Ontario facing steeper drops due to affordability challenges and reduced immigration. First-time buyers are showing renewed interest as prices ease 8-10% in some areas, but sellers face disheartening conditions, and a surge in condo completions risks exacerbating supply pressures into 2026 unless economic recovery accelerates.

Housing Market in Toronto – July 2025

In July 2025, the Greater Toronto Area (GTA) housing market experienced its strongest sales performance since 2021, with 6,100 homes sold, marking a 10.9% year-over-year increase, driven by improved affordability from lower home prices and borrowing costs. The average selling price dropped 5.5% to $1,051,719, and the MLS® Home Price Index Composite benchmark fell 5.4% compared to July 2024, reflecting a softening market. New listings rose 5.7% to 17,613, while active listings surged 26.2% to 30,215, indicating a buyer’s market with increased inventory. Despite a modest tightening due to sales outpacing new listings, with a sales-to-new-listings ratio of 35%, the market remained balanced, with condos facing the most pressure (down 6.4% to $683,413) and detached homes leading transactions at 45.8% of sales.

Housing Market in Toronto – June 2025

In June 2025, the Greater Toronto Area (GTA) housing market experienced a significant slump, characterized by a buyer’s market with a record-high inventory of 31,603 active listings, a 34% year-over-year increase, and a benchmark home price dropping to a four-year low of $995,100, down 5.5% from June 2024. The average home price fell 5.2% year-over-year to $1,101,691, with declines across all property types: detached homes (-6% to $1.39M), semi-detached (-1.2% to $1.09M), townhouses (-5.5% to $966k), and condos (-4.3% to $696k). Despite seven consecutive Bank of Canada rate cuts, home sales remained nearly flat at 6,243, up just 0.5% year-over-year, while new listings rose 10.4% to 19,839. The sales-to-new-listings ratio (SNLR) of 32% underscored the buyer-friendly conditions, driven by economic uncertainty, trade tensions, and slowing population growth, leading to longer selling times (42 days on average, up from 30 in June 2024) and increased negotiating power for buyers.

Toronto Housing Market – May 2025

In May 2025, the Toronto housing market remained a buyer’s market, characterized by a record-high inventory of 30,964 active listings in the Greater Toronto Area (GTA), a 42% year-over-year increase, and a sales-to-new-listings ratio (SNLR) of 29%, down from 38% in May 2024. The average home price in the GTA was $1,120,879, down 3.8% from May 2024 but up 1.2% from April 2025, while the benchmark price fell 4.5% year-over-year to $1,012,800. Home sales totaled 6,244, an 11% decrease from the previous year but an 11.5% increase from April 2025, reflecting seasonal improvement. Condo sales saw the steepest decline at 24% year-over-year, with new listings up 17% to 21,819, leading to longer selling times (39 days on average, up from 28 in May 2024) and homes selling at 99% of the asking price, compared to 102% the previous year. Economic uncertainty, including U.S. trade policy concerns and seven consecutive Bank of Canada rate cuts, contributed to cautious buyer behavior despite a low 3.94% five-year fixed mortgage rate.

Toronto Housing Market – April 2025

In April 2025, Toronto’s housing market experienced a notable downturn, with average home prices reflecting a year-over-year decline. The average selling price in the Greater Toronto Area (GTA) was reported around $1,107,463, down approximately 4.1% to 5.4% compared to April 2024, according to multiple sources including the Toronto Regional Real Estate Board (TRREB) and local market analyses. The MLS® Home Price Index Composite benchmark also fell by 5.4% year-over-year, while the benchmark home price in the GTA was approximately $1,009,400. Detached homes saw a 1.3% price drop to $1,700,710 in Toronto, and condo prices decreased by 6.8% to $678,048. This softening was accompanied by a 23.3% drop in sales volume compared to the previous year, driven by economic uncertainty and buyers awaiting potential interest rate cuts, leading to increased inventory and more choice for buyers.

Toronto House Prices – March 2025

Toronto’s housing market in March 2025 is a buyer’s market, with an SNLR of 39% and a record-high inventory of 49,284 active listings, up 39% year-over-year. Sales plummeted 26.7% year-over-year, with 9,776 transactions, 35.6% below the 10-year average. Condo prices are declining due to high listings and low sales, while rental prices dropped 6.9% to $2,589, marking 14 consecutive months of declines, though affordability remains a challenge amid high supply.

House prices in Toronto 2020-2022

Average House Price in Toronto
	2020	2021	2022
January	$828,800*	$945,200*	$1,257,500*
February	$844,600*	$986,200*	$1,326,100*
March	$864,600	$1,020,700*	$1,335,000*
April	$870,100	$1,036,900*	$1,303,900*
May	$880,200*	$1,018,500*	$1,250,000*
June	$875,900*	$1,021,900*	$1,193,500*
July	$893,000*	$1,025,100*	$1,146,500*
August	$902,500*	$1,033,200*	$1,113,900*
September	$908,900*	$1,065,300*	$1,100,500*
October	$908,600*	$1,113,100*	$1,088,300*
November	$914,100*	$1,153,000*	$1,080,000*
December	$921,400*	$1,187,200*	$1,071,400*
Source: CREA 2020
*Updated

Average House Price in Toronto
	2017	2018	2019
January	$706,700*	$741,700*	$761,800
February	$728,300*	$750,200*	$767,800
March	$772,400*	$759,300*	$779,100
April	$807,900*	$764,800*	$789,400*
May	$816400*	$770,900*	$795,100*
June	$810,700*	$770,600*	$798,400*
July	$773,00*	$766,900*	$800,200*
August	$753,900*	$764,800	$801,500*
September	$750,200*	$765,400	$804,500*
October	$746,600*	$766,300	$810,300*
November	$743,300*	$763,600	$816,300*
December	$742,000*	$764,200	$819,100*
Source: CREA
*Updated