Average House Price in Toronto

by The Canadian Magazine of Immigration · June 16, 2025

The average house price in Toronto is $1,012,800

Toronto house prices

Housing Market in Toronto

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.

In May 2025, Toronto’s average house price down by 4.5% 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*	$1,110,600
July	$1,154,600*	$1,097,300
August	$1,134,600*	$1,082,200
September	$1,120,200*	$1,068,700
October	$1,097,000*	$1,060,300
November	$1,074,700*	$1,061,700
December	$1,060,400*	$1,061,900
Source: CREA
*Updated

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

Home prices depend on the size, location, amenities, the age and condition of the apartment, townhouse or house.

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