🏡 GTA Real Estate Market Update – July 2025: Heat Is On!
The Greater Toronto Area (GTA) came in hot this July—and we’re not just talking about the weather ☀️. For anyone eyeing the real estate market, July 2025 delivered the strongest home sales result for the month since 2021. That’s right, folks—we haven’t seen July this active in four years, and the market is starting to hum with new energy.
In fact, sales were up not just in raw numbers but also relative to new listings. Translation? A modest tightening in the market, suggesting more buyers are taking the plunge and fewer listings are piling up like forgotten leftovers in the back of the fridge 🥲.
Let’s break it all down so it actually makes sense—without making your eyes glaze over.
📈 The Numbers (But Not Too Many, Promise!)
GTA REALTORS® reported 6,100 home sales through TRREB’s MLS® System in July 2025. That’s a 10.9% jump from July 2024.
On the listing side, 17,613 homes were newly listed—a 5.7% increase year-over-year. So yes, more options came to market, but buyers stepped up in bigger numbers. It’s kind of like a buffet where more dishes came out, but people actually ate them.
Looking month-to-month, July also outperformed June. Sales increased, and while listings did too, they couldn’t quite keep up. That tightening dynamic could mean we’re slowly shifting from a more balanced market back toward seller-friendly territory.
💸 Prices: Down But Not Out
If you’re hoping for a price crash, don’t hold your breath—but we did see a dip. The MLS® Home Price Index (HPI) Composite benchmark was down 5.4% compared to July 2024.
And the average selling price? $1,051,719. That’s a 5.5% drop year-over-year. It’s not a fire sale, but it’s definitely giving some households the breathing room they’ve been waiting for.
Month-over-month, both the HPI and average price stayed flat. That suggests we may be finding a new price floor—a level where buyers feel confident enough to make a move, and sellers aren’t panicking.
🚬 What the Experts Are Saying
Elechia Barry-Sproule, TRREB President, noted the shift: “Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales.”
Translation: When homes get even slightly more affordable, people act. But she added a key point: "More relief is required, particularly where borrowing costs are concerned."
In other words, interest rates are still keeping a few people on the sidelines. Cut those a little more, and we might see this modest surge turn into a full-on wave 🌊.
Jason Mercer, TRREB’s Chief Information Officer, had a more macro take. He pointed to the broader economy, where Canada is kind of… treading water right now 🌊.
He believes the housing sector can become a growth engine. Why? Because when people buy homes, they also spend on renovations, furniture, appliances, and services. It’s a domino effect of economic activity.
Mercer suggests that cutting interest rates further could ignite that chain reaction, creating jobs and boosting local economies. Makes sense, right?
John DiMichele, TRREB CEO, added an interesting twist: foreign buyers. The current narrative is that foreign nationals are locked out of the market—but not so fast.
There are exemptions:
Foreigners can still buy multi-unit buildings (four or more units).
Vacant land or land for development? Also allowed.
Non-residents can purchase recreational properties or homes outside major urban centres.
And temporary residents (like international students and workers) can purchase under specific rules, even with the foreign buyer ban extended until January 2027.
So yes, the gates aren’t fully closed—they’re just partially fenced 🏡🧳.
🚀 Why It Matters (Even If You’re Not Moving Next Week)
You might be thinking, "Okay, neat stats. But what does this mean for me?"
Buyers: If you’ve been on the fence, this could be your moment. Prices have softened, competition is manageable, and some homes are lingering just long enough for you to make your move.
Sellers: You’re not in a red-hot market anymore, but with the right pricing and marketing, your home can still shine. Especially with more buyers stepping off the sidelines.
Investors: With exemptions in place, opportunities for multi-unit or development property investments are still very real.
Renters: Watching this all from the sidelines? Keep one eye on prices and interest rates. Your opportunity may come sooner than you think.
🎥 Market Outlook Video Here!
(This is your cue to embed your fabulous monthly video update!)
Make it punchy. Make it personal. Maybe even toss in a surprise stat or hot take you didn’t include above. People love to hear your voice and see your take on the market.
❓ So, What’s Next?
That depends on you. Are you looking to move before interest rates shift again? Want to snag a home before competition heats up in the fall? Or maybe you're finally ready to trade that condo for a backyard and a BBQ setup 🌭.
Whatever your goals, we’re here to guide you—with clarity, confidence, and maybe a little humor to keep things fun.
Let’s sit down, talk strategy, and figure out your best next move.
🌟 Stay Inspired
Yes, the market's shifting. But opportunity loves motion. Whether you're jumping in or just observing, knowledge is power—and we hope this gave you a little more of it today.
Stay positive. Stay curious. And as always, stay in touch ✨
