In April 2025, home sales in the Greater Toronto Area (GTA) suddenly plummeted. Prospective buyers were understandably on edge with the persistent cloud of trade uncertainty hovering overhead. In fact, just this past week, the GTA board released a report showing a staggering 24 percent drop in home sales. The region suffered a shocking 23.3 percent decrease from last year during the same month. Special thanks to Sammy Hudes from The Canadian Press, who wrote this detailed dispatch. It provided an in-depth look at national housing market trends for that month.
In April, the GTA had 18,836 new listings. That’s an 8.1 percent increase in new listings, year-over-year versus April 2024. This listing uptick was a big part of a healthy overall active listing increase, which shot up to 27,386 units last month. That’s a significant 54 percent jump from last year’s stock of 17,783 units. That increase was met with continued buyer reluctance to pull the trigger on a purchase in a volatile market.
Even with these additional listings, the average selling price for a home in the GTA decreased to $1,107,463. That’s a drop of 5.4 percent from last year at this time. To further illustrate the impact of the state of the market, the composite benchmark price in the region took a hit, decreasing 4.1 percent year-over-year. The combination of increasing inventory and decreasing prices represents a changing market dynamic that may lead to further sales decreases ahead.
The report does shed light on continued headwinds for the GTA housing market, as buyers continue to face economic uncertainty. The significant drop in sales alongside the increase in listings suggests that many potential homeowners are opting to wait for more favorable conditions before making significant financial commitments.
