Greater Toronto home sales tick lower in July as prices fall: real estate board
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- Greater Toronto Area home sales dipped 0.9% year-over-year in July, ending four months of gains.
- The average selling price fell 4.5% to just over $1 million, with the benchmark price down 4.6%.
- New listings dropped 17.8% while active listings decreased 12.1%, potentially reducing negotiation room for buyers.
The Greater Toronto Area's housing market experienced a slowdown in July, marking an end to four consecutive months of year-over-year sales increases. A total of 5,995 homes were sold last month, representing a 0.9% decrease compared to July 2025. However, on a seasonally adjusted basis, sales saw a 3.2% rise from June.
The average selling price in the region declined by 4.5% year-over-year, settling at $1,003,956. The composite benchmark price, designed to reflect a typical home, also saw a 4.6% decrease. This cooling trend comes as new listings entering the market fell significantly by 17.8% compared to the previous year.
Inventory levels also tightened, with a 12.1% drop in total active listings, leaving 26,098 homes available in the GTA. Toronto Regional Real Estate Board president Daniel Steinfeld noted that with sales consuming a larger portion of available listings, buyers might find their ability to negotiate prices is diminishing.
may find there is less room to negotiate moving forward.
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Originally published by Global News. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.
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