As we approach the halfway mark of 2025, there’s still uncertainty in the relationship with our neighbour to the south.
However, when examining the housing market, some stability is evident. Both the GTA’s Average Sales Price and Total Sales metrics edged up for the fourth month in a row. While both figures are lower than those in 2024, a steady and measured rise is a sign of stability and aligns with the market trend.
And then there is the record number of Active Listings. Let’s take a deeper look.
GTA
Following Spring trends, May was the fourth consecutive month that the Average Sales Price inched upwards, this time from $1,107,463 to $1,120,879 (+1.2%). That figure is 4.4% under May 2024’s Average Sale Price ($1,167,646), as 2025 continues to underperform in comparison to the year before.
Total Sales
Total Sales increased again (also in line with the April to May trend), from 5,601 to 6,244, a growth of 11.5%, similar to last month’s 11.8% increase. However, following the trend of comparisons to 2024, the Total Sales number is 13.3% lower than it was last May (7,206).
New Listings
In direct contrast to the lower 2025 Total Sales numbers are New Listings. They continued their ascent, from 18,836 in April to 21,819 in May (+15.9%). The New Listings last month are also 14.0% higher than May 2024’s total (19,147).
Active Listings
Overall, available housing inventory remained persistent in its growth, growing from 27,386 in April to 30,964 in May (+13.1%). This is the first time that 30K has been breached in the Active Listings category, re-setting the record established in April. For comparison, May 2024 featured 21,880 Active Listings in the GTA (2025 = +41.5%).
Toronto
The Average Sales Price in the 416 also increased, albeit modestly, from $1,144,977 to $1,155,616 (+1.0%). A growth similar to the GTA was observed for Total Sales in the City, which rose from 2,129 to 2,315 (+8.7%).
Comparable to New Listings in the GTA, the 416’s metric jumped from 7,105 to 7,888 (+11.0%), nearly the same as the increase from March to April. Active Listings maintained their upward momentum as well, also increasing by 11.0% from 10,563 in April to 11,705 in May.
Sales-to-New-Listings Ratios (SNLR) dropped in both jurisdictions from April to May: from 35.1% to 34.3% in the 416, and from 36.0% to 34.9% in the GTA.
Outlook
Inventory has maintained steady growth over the past few months, and while prices are also slowly rising through 2025, they are still lower than in 2024. And while the Bank of Canada kept borrowing rates at 2.75%, they’re still lower than in 2024.
With increasing inventory, lower prices and borrowing costs than in 2024, now might be the time to enter the market.
No matter your position, I can provide my insight and help you decide for yourself!!
Thinking of moving to the next stage? Let’s chat. Send me an email (hillary@hillarylane.ca) or text/phone (416-882-4707).
