Home sales in the GTA were down 13.3% this May compared to last year, but new listings rose by 14%, giving buyers more choices and stronger negotiating power.
The average selling price was around $1.12M — about 4% lower than May 2024. However, prices and sales ticked up slightly from April, showing early signs of stability.
Lower home prices and borrowing costs are making things more affordable, but some buyers are still waiting for interest rates to drop and the economy to feel more secure.
If confidence improves and rates come down, more people could jump back into the market. Right now, buyers have more room to negotiate, and sellers need to price wisely.
📩 Want more market insights like this? Subscribe to our newsletter for monthly updates.