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April 2025 followed the typical seasonal trend with activity picking up compared to March, but the year-over-year picture tells a different story. Sales volume dropped significantly as many buyers continued to wait for more certainty regarding the economy and borrowing costs.
📊 The Big Picture: GTA Market Stats
- Average Sold Price: $1,107,463 (Year-Over-Year: Down 4.1%) +1
- Total Sales: 5,601 (Year-Over-Year: Down 23.3%) +1
- New Listings: 18,836 (Year-Over-Year: Up 8.1%) +1
- Days on Market (LDOM): 25 Days (Compared to 19 days last year)
🔍 Key Market Trends
1. A Buyer’s Market Emerges The divergence between supply and demand is widening. Sales dropped by 23.3%, while new listings increased by 8.1%. This gap has created “substantial choice” for households looking to purchase, removing the urgency we saw in previous years.+1
2. The “Wait-and-See” Approach Despite plentiful inventory, buyers are hesitant. TRREB reports that potential buyers are still on the sidelines, waiting for clearer signs of lower borrowing costs and stability in the broader economy—specifically monitoring trade relationships following the recent federal election.+1
3. Negotiating Power With inventory levels remaining historically elevated, buyers are using this leverage to negotiate lower purchase prices. The average selling price has dipped by 4.1% year-over-year, helping to alleviate some affordability challenges when combined with projected rate improvements.
📝 The Bottom Line
- For Buyers: You currently have the luxury of choice. With inventory up and competition down, it is an excellent environment to negotiate aggressively on price and terms.
- For Sellers: The market is crowded. With new listings up 8% and sales down double-digits, your listing needs to be priced realistically to attract attention in less than 30 days
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