The Greater Toronto Area’s housing market recorded its best July performance in four years, with 6,100 homes sold—marking the most transactions in a July since 2021. According to the Toronto Regional Real Estate Board (TRREB), home sales were up 10.9 per cent compared to July 2024 and jumped 13 per cent on a seasonally adjusted basis from June.
TRREB attributed the rise in activity to slightly improved affordability, as both home prices and borrowing costs have eased. The average selling price in the region fell 5.5 per cent year-over-year to $1,051,719, while the composite benchmark price—reflecting the typical home—dropped by 5.4 per cent.
TRREB President Elechia Barry-Sproule said the numbers reflect growing consumer confidence and accessibility in the market. “It’s clear that a growing number of households are finding affordable options for home ownership,” she noted, though she emphasized the need for further action to address high borrowing costs and ensure sustained momentum.
In terms of inventory, 17,613 new listings were added in July, up 5.7 per cent from a year earlier. The total number of active listings stood at 30,215—an increase of 26.2 per cent from July 2024—indicating more choice for buyers in a shifting market.
While affordability challenges remain, July’s surge in activity offers a positive sign for the GTA’s real estate landscape, suggesting that pent-up demand may be gradually unlocking as market conditions stabilize.