Based on data published by the Toronto Regional Real Estate Board (TRREB). This analysis reflects insights from their March 2025 Market Watch report and related sources.
Buyers Regain Ground as Listings Surge and Prices Stabilize
The Toronto Regional Real Estate Board (TRREB) has released its latest market stats for March 2025, and the numbers tell a compelling story — the residential real estate market across the Greater Toronto Area (GTA) is shifting noticeably in favour of buyers. With inventory up, prices softening, and sales declining, we’re seeing the effects of a more balanced, if not buyer-leaning, market.
🔢 Average Selling Price Down, But Stabilizing Month-over-Month
The average selling price across all home types in the GTA in March 2025 came in at $1,093,254, marking a 2.5% decrease compared to March 2024. While this year-over-year drop reflects the continued adjustment from post-pandemic peaks, the market showed signs of short-term stability with a 0.3% increase month-over-month (seasonally adjusted) from February 2025.
Price Breakdown by Property Type:
Detached: $1,439,268
Semi-Detached: $1,111,791
Townhouses: $908,169
Condo Apartments: $682,019
This data indicates that while high-interest rates are cooling the market, demand remains for specific segments, especially entry-level condos and townhouses.
📉 Total Sales Decline as Market Activity Slows
📊 Source: TRREB March 2025 Market Watch Report (PDF)
There were 5,011 residential transactions recorded in March 2025 — a 23.1% drop compared to March 2024, when 6,519 homes were sold. Seasonally adjusted figures show that sales also fell slightly compared to February 2025, down 2.4% month-over-month (from 4,326 to 4,221).
Sales by Property Type:
Detached: 2,155
Semi-Detached: 485
Townhouses: 899
Condo Apartments: 1,404
Buyers are being cautious — likely a result of continued high borrowing costs and economic uncertainty — but still active in lower-priced market segments.
📈 New Listings See a Sharp Increase
📊 Source: TRREB Monthly Market Stats
A total of 17,263 new listings hit the market in March 2025 — a 28.6% increase from March 2024. This represents a significant boost in inventory and is one of the most critical factors shaping buyer behavior right now.
The sales-to-new listings ratio has dropped to 29% (compared to 49% last year), indicating that supply is outpacing demand — a signal that we are moving further into a buyer’s market territory.
⏳ How Long Are Homes Taking to Sell?
While homes are taking fewer days on market overall, there’s a slight contrast between time-to-sell and time-to-list:
Property Days on Market: 25 days in March 2025 (down from 29 days in 2024)
Listing Days on Market: 24 days in March 2025 (up from 20 days in 2024)
This data suggests that while buyers are acting faster once engaged, listings are sitting a little longer — likely due to increased competition and more cautious buying decisions.
📊 HPI & Seasonality Trends
📊 Source: MLS® Home Price Index – TRREB
According to the MLS® Home Price Index (HPI):
Prices peaked in 2022, corrected through 2023–2024,
As of March 2025, pricing trends show stabilization or early signs of a modest rebound.
Seasonally adjusted activity confirms that while spring remains the busiest season, 2025 is trending lower overall in transaction volume, indicating softened demand despite seasonal norms.
💬 What Does This Mean for Buyers & Sellers?
Buyers:
More listings, less competition
Opportunity to negotiate and include conditions
Great time to buy, especially in the condo and townhouse segments
Sellers:
Need to price strategically and stage for impact
Homes are still selling, especially in high-demand price ranges and well-connected locations
Investors:
Opportunities in a cooling market where future appreciation is likely once interest rates ease
Consider pre-construction and high-rental-demand areas
🧭 Explore More Real Estate Opportunities
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