Toronto Home Prices Fall 4.5% as July Sales Slip
The average GTA selling price dropped to $1,003,956 in July, down 4.5% from a year ago, as sales edged 0.9% lower and new listings fell sharply, the Toronto Regional Real Estate Board reported.
The Greater Toronto Area housing market stayed soft in July. The average selling price fell 4.5% from a year earlier to $1,003,956, and the composite benchmark price — which strips out the changing mix of homes sold — was down 4.6%, the Toronto Regional Real Estate Board (TRREB) reported. Sales slipped 0.9% year-over-year to 5,995 homes, though they rose 3.2% from June on a seasonally adjusted basis.
Listings are drying up
New supply told the sharper story: just 14,484 homes were newly listed, down 17.8% from July 2025. With inventory thinning, sales now account for a larger share of what's available — a shift TRREB president Daniel Steinfeld said means buyers "may find there is less room to negotiate moving forward."
What it means for buyers and owners
For buyers, a sub-$1-million average and softer prices keep affordability better than at the 2022 peak — but shrinking supply could firm prices up again if demand returns. For owners, values remain below their record highs. Either way, it's worth running your own numbers — down payment, closing costs and monthly carrying costs — before you list or place a bid.
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General news and information, not individualized financial advice. Figures reflect the publication date.