GTA Real Estate Market February 2025
GTA Real Estate Market Performance February 2025
GTA Home Buyers Benefit from Increased Choice in February 2025
As per TRREB’s February Market Watch Report, the Greater Toronto Area (GTA) resale housing market continued to offer home buyers substantial choice in February 2025. While sales were lower compared to the same period last year, listing inventory remained high, providing buyers with significant negotiating power.
Market Conditions Favour Buyers
Home sales across the GTA declined by 27.4% compared to February 2024, with a total of 4,037 transactions reported through the MLS® System. Meanwhile, new listings increased by 5.4% year-over-year, reaching 12,066. This influx of listings has given buyers more options and leverage in negotiations. On a seasonally adjusted basis, sales were also lower month-over-month compared to January 2025.
Affordability Challenges and Interest Rate Outlook
Despite a strong desire among many GTA households to purchase a home, affordability remains a key concern due to elevated mortgage rates. However, borrowing costs are expected to decline in the coming months, which should improve affordability and potentially boost home-buying activity.
Economic Uncertainty Impacting Buyer Confidence
Beyond affordability concerns, economic uncertainty has also influenced homebuyer sentiment. Issues such as Canada’s trade relationship with the United States may have caused some households to take a cautious approach, delaying purchasing decisions. If economic uncertainty eases and borrowing costs continue to decline, the latter half of the year could see stronger sales activity.
Home Prices Experience a Modest Decline
The MLS® Home Price Index (HPI) Composite benchmark was down 1.8% year-over-year in February 2025. The average selling price for all home types stood at $1,084,547, representing a 2.2% decline compared to February 2024. On a seasonally adjusted basis, both the MLS® HPI Composite and the average selling price edged lower month-over-month.
The Role of Policy in Market Stability
With the recent Ontario provincial election and ongoing political uncertainty at the federal level, housing policies remain a critical focus. Clear and decisive action on housing supply, affordability, and economic stability will be essential in strengthening consumer confidence. Addressing these concerns will play a vital role in shaping the direction of the GTA real estate market in the coming months.
As the market continues to evolve, home buyers and home sellers should stay informed and work with experienced professionals to navigate changing conditions.
GTA Real Estate Market February 2025 Stats
| Average Home Prices by City February 2025 | ||||
| Detached | Semi Detached | Condo Townhouse | Condo Apartment | |
| Burlington | $1,391K | $1,040K | $753K | $591K |
| Milton | $1,214K | $988K | $707K | $605K |
| Oakville | $2,114K | $992K | $773K | $671K |
| Brampton | $1,165K | $891K | $634K | $471K |
| Mississauga | $1,606K | $992K | $781K | $581K |
| City of Toronto | $1,782K | $1,275K | $912K | $724K |
2022-2026 GTA Monthly Home Sale Stats as per TRREB Reports
| Avg. Home Price | Home Sales | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 2023 | 2024 | 2025 | 2026 | 2022 | 2023 | 2024 | 2025 | 2026 | ||||||
| Jan | $1,242K | $1,037K | $1,028K | $1,041K | $973K | 5,594 | 3,082 | 4,308 | 3,821 | 3,082 | |||||
| Feb | $1,334K (Peak) | $1,096K | $1,114K | $1,086K | 9,027 | 4,754 | 5,792 | 4,128 | |||||||
| Mar | $1,298K | $1,107K | $1,125K | $1,090K | 10,861 | 6,867 | 6,741 | 4,959 | |||||||
| Apr | $1,250K | $1,152K | $1,155K | $1,106K | 7,940 | 7,487 | 7,301 | 5,558 | |||||||
| May | $1,210K | $1,195K | $1,167K | $1,121K | 7,226 | 8,959 | 7,205 | 6,201 | |||||||
| Jun | $1,145K | $1,181K | $1,164K | $1,102K | 6,422 | 7,429 | 6,397 | 6,203 | |||||||
| Jul | $1,072K | $1,116K | $1,113K | $1,051K | 4,868 | 5,219 | 5,498 | 6,069 | |||||||
| Aug | $1,093K | $1,082K | $1,077K | $1,021K | 5,585 | 5,251 | 5,092 | 5,196 | |||||||
| Sep | $1,086K | $1,118K | $1,112K | $1,059K | 4,998 | 4,605 | 5,155 | 5,592 | |||||||
| Oct | $1,087K | $1,123K | $1,135K | $1,054K | 4,929 | 4,611 | 6,784 | 6,138 | |||||||
| Nov | $1,079K | $1,077K | $1,110K | $1,039K | 4,507 | 4,194 | 5,948 | 4,997 | |||||||
| Dec | $1,050K | $1,084K | $1,060K | $1,006K (Bottom) | 3,090 | 3,419 | 4,058 | 3,697 | |||||||
| Annual | $1,190K | $1,126K | $1,120K | $1,067K | $973K | 75,047 | 65,877 | 70,279 | 62,433 | 3,082 | |||||
Year-Over-Year Summary (February Comparison)
| GTA | 2025 | 2024 | %age change |
|---|---|---|---|
| Sales (All Home Types) | 4,037 | 5,562 | -27.4% |
| New Listings | 12,066 | 11,443 | 5.4% |
| Active Listings | 19,536 | 11,097 | 76.0% |
| Average Price | $1,084,547 | $1,109,450 | -2.2% |
| Average LDOM | 28 | 25 | 12.0% |
| Average PDOM | 43 | 27 | 16.2% |
Average Listing Days on Market (Avg. LDOM) refers to the average number of days sold listings were on the market. Average Property Days on Market (Avg. PDOM) refers to the average number of days a property was on the market before selling, irrespective of whether the property was listed more than once by the same combination of seller and brokerage during the original listing contract period.
| 5 Year GTA Sales & Avg Price Chart | ||
|---|---|---|
| Year | Sales | Avg Price |
| 2019 | 87,747 | $819,153 |
| 2020 | 95,066 | $929,636 |
| 2021 | 121,712 | $1,095,475 |
| 2022 | 75,047 | $1,190,749 |
| 2023 | 65,936 | $1,126,591 |
| 2024 | 67,610 | $1,117,600 |
| 2025 (YTD) | 7,871 | $1,063,490 |
February 2025 Rental Market Update
Canadian Rental Market Sees Fifth Consecutive Month of Declining Rents
As per a report from Rentals.ca, the rental market across Canada continued its downward trend in February, with average asking rents falling year-over-year for the fifth straight month to $2,088.
The report indicates that rents dropped by 4.8% last month – the largest decline since April 2021. Despite this dip, rental prices remain significantly higher than pre-pandemic levels, with a 5.2% increase compared to two years ago and a 16.9% rise since before the pandemic.
The decline in rental prices is attributed to an increase in housing supply, driven by record-high apartment completions, coupled with slowing population growth and economic uncertainty. Heightened risks in the economy, including challenges in international trade, have further influenced market conditions.
The data shows that purpose-built apartment rents fell 1.9% year-over-year to an average of $2,070, while condominium rents saw a steeper drop of 7.6%, hitting a 26-month low of $2,192.
Ontario experienced the sharpest decline, with apartment rents down 4.2% to an average of $2,329 in February, while British Columbia saw a more modest 1% decrease, bringing the average rent to $2,457.
With shifting market dynamics, both renters and landlords should stay informed about evolving trends in the rental landscape.
Are you an existing landlord or a tenant, you might find our Tenant move-in and move-out process blog post very useful!
Are you looking to become a Landlord? Take our Are You Fit to become a Landlord quiz!
Other News from GTA Real Estate Industry!
TRREB Scholarship Applications
TRREB awards scholarships each year to high school students pursuing post-secondary education. Eligible students can apply for one of eight awards this year: two first place awards of $5,000, two second-place awards of $2,500, two third-place awards of $2,000, and two fourth-place awards of $1,500. The deadline to apply is Friday, March 28, 2025, at 3:00 p.m. Find out more directly on TRREB Scholarships.
Why Now is a Great Time to Buy, Sell, or Invest in the GTA
Concerns about a potential recession or market slowdown are natural given the current geopolitical situation, but history proves that GTA real estate remains a strong long-term investment. After the 2008 financial crisis and the 2017 market correction, the GTA housing market bounced back, driven by high immigration, strong demand, and limited supply.
Today, with interest rates stabilizing and spring bringing renewed market activity, buyers, sellers, and investors have a prime opportunity. Since 2003, Team Kalia has successfully navigated market shifts, helping clients make informed and profitable decisions. Partner with us for a smooth and rewarding real estate journey!
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