Toronto remains Canada's most closely watched real estate market. After a turbulent period from 2022 through 2024 marked by rapid rate hikes, price corrections, and cautious buyer sentiment, the Toronto housing market in 2025 is finding a new equilibrium. Prices have stabilized around $1.1 million on average, interest rates have come down from their peak, and inventory has normalized compared to the frenzied 2021–2022 era.
This guide covers current prices by property type, neighbourhood trends, days on market, inventory conditions, and the affordability picture for buyers and sellers in 2025.
The Toronto Regional Real Estate Board (TRREB) tracks sales across the Greater Toronto Area. In 2025, the average resale price is hovering around $1.08–1.13 million depending on the month. Detached homes command a significant premium over condos and townhouses.
| Property Type | Average Price (2025) | Year-over-Year Change |
|---|---|---|
| Detached | $1,420,000 | +2.5% |
| Semi-Detached | $1,080,000 | +1.8% |
| Townhouse | $880,000 | +1.2% |
| Condo Apartment | $670,000 | -1.5% |
| All Types (Average) | $1,100,000 | +1.4% |
Condo prices are slightly softer due to elevated supply from investor-owned units returning to market. Detached homes in the 416 area code remain exceptionally expensive, with many single-family properties in Leslieville, Danforth, and North York commanding $1.4–1.8 million.
Active listings in the Greater Toronto Area climbed meaningfully from their 2022 lows. In early 2025, roughly 12,000–15,000 active listings exist in any given month — a normalization compared to the sub-5,000 listings seen at peak frenzy.
Days on market has stretched from the 7–10 days seen during the pandemic bidding wars to a healthier 25–35 days. This gives buyers more time to complete due diligence, negotiate conditions, and avoid panic offers.
| Metric | 2021 Peak | 2023 | 2025 |
|---|---|---|---|
| Active Listings | 4,500 | 9,200 | 13,500 |
| Avg Days on Market | 8 | 22 | 29 |
| Sale-to-List Ratio | 108% | 98% | 99% |
| Months of Inventory | 0.8 | 2.4 | 3.1 |
With roughly 3 months of inventory, Toronto sits in balanced-to-slight-buyer's-market territory in 2025. A seller's market is typically defined as under 2 months of inventory; a buyer's market is above 4 months. Toronto is in that middle ground where both sides have leverage depending on the specific neighbourhood and property type.
| Neighbourhood | Avg Price | Conditions |
|---|---|---|
| Rosedale / Forest Hill | $2,800,000+ | Seller's market |
| The Beaches | $1,650,000 | Balanced |
| North York (Yonge/Sheppard) | $1,200,000 | Balanced |
| Scarborough | $980,000 | Buyer-leaning |
| Downtown Condos (King/Queen) | $650,000 | Buyer's market |
| Etobicoke | $1,100,000 | Balanced |
Toronto remains one of the least affordable major cities in North America relative to local incomes. A household earning $150,000 combined gross income can qualify for a mortgage of roughly $700,000–$780,000 at current rates under the stress test. That buys a condo or a small townhouse — not a detached home.
The Bank of Canada cut its policy rate several times through 2024, bringing it from 5.0% down to approximately 3.0–3.25% by early 2025. Current mortgage rates in Toronto (approximate, 2025):
Most Toronto market analysts expect modest price growth of 3–6% through 2025, driven by rate cuts, continued population growth from immigration, and undersupply in the detached segment. The condo market may see flat or slightly negative appreciation for another 12–18 months as supply works through.
Key factors to watch: further Bank of Canada rate cuts, federal immigration targets, Toronto's inclusionary zoning policies, investor sentiment in condos, and employment trends in tech and finance sectors.
While you watch the Toronto market, save every dollar. KOHO offers free banking with no monthly fees and no minimum balance. Use code 45ET55JSYA for a bonus when you sign up.
Open KOHO Free — Code 45ET55JSYAToronto is in a balanced-to-slight-buyer's market overall in 2025, though individual segments vary. Condos favour buyers; detached homes in sought-after areas still favour sellers.
The average resale price across all property types in the Greater Toronto Area is approximately $1.1 million in 2025.
Most analysts forecast modest increases of 3–6% for 2025 driven by rate cuts and continued demand from population growth. A significant price drop is not widely expected unless there is a major economic shock.