April 2025 Real Estate Market Update
April home sales followed the regular seasonal trend with an increase relative to March. However, total residential transactions in the Greater Toronto Area (GTA) were down compared to the same time last year, as potential buyers continue to wait for lower borrowing costs and for certainty about the trajectory of the economy.
Just over 5,600 homes traded hands in April, representing an 11.7% monthly increase, but down by 23.3% from April 2024, and 38.5% lower than the 10-year average for the month.
Meanwhile, inventory has ballooned to 27,386 active listings — a 51% year-over-year increase. Two-thirds of all listings were new, up 8.1 per cent over the same time period.
Inventory levels provided substantial choice for those looking to purchase a home in the GTA. Buyers took advantage of this choice when negotiating purchase prices, which resulted in a lower average price across market segments compared to last year. The average selling price, at $1,107,463, was down by 4.1%. On a month-over-month seasonally adjusted basis, the average selling price was down, too.
Detached home prices held steady for a second straight month at $1,431,495. This segment also saw the largest monthly gain in sales activity, with 2,556 transactions, an 18.6% rise. Detached inventory remains high at 11,795 properties, although this level aligns more closely with historical patterns compared to some of the other categories.
The condo segment stands out for its surging supply and softening prices. The average condo sold for $678,048, returning to price levels achieved during the summer of 2021. Inventory has surged 128.8% above the 10-year April average. Despite this, sales edged up 1.8% month-over-month, totalling 1,430, marking the fourth consecutive month of increased activity.
Townhomes posted a modest gain in values, rising $4,444 from March, for an average of $1,005,487. Sales improved 13% for a total of 571 transactions. Inventory surpassed 2,000 units for only the second time on record, reaching 2,061 active listings in the region.
Semi-detached homes experienced a 2% decline in average price, ending the month at $1,088,848. However, sales improved to 565 transactions, up 16.5% from March. Inventory remains high for this segment as well, with 1,458 active listings, 78% above the April historical average.
April’s data reflects a shifting market, one where buyer caution, expanded inventory and moderated price growth are shaping a more balanced market. With borrowing conditions continuing to improve and the federal election now in the rear-view mirror, the coming months will reveal whether confidence returns more broadly, resulting in an uptick in transactions, or if the wait-and-see approach persists into summer.
If you would like to know how the real estate market performed in your neighbourhood, contact Clare Tattersall at 647-625-3282 or clare@realtorontowest.com.
