The GTA housing market is shifting in favour of buyers. Home sales dropped 23.1% year-over-year, while new listings surged 28.6%, creating more choices and stronger negotiating power for buyers. Average prices dipped 2.5% to $1.09M, with properties taking longer to sell.
March was a wake-up call. Sales dropped. Listings surged. And prices? They’re slipping just enough to raise eyebrows- and opportunities. If you’re buying or selling real estate in the Greater Toronto Area (GTA), here’s what you really need to know.
5,011 Homes Sold- But That’s 23.1% Less Than Last March!
In March 2025, sales plummeted by 23.1% year-over-year, falling from 6,519 last year to just 5,011 this year.
What’s behind the drop?
• Buyer hesitation due to elevated borrowing costs
• Lingering economic uncertainty
• More listings flooding the market, giving buyers time to shop around
Despite this cool down in activity, new listings actually surged by 28.6%, reaching 17,263. Inventory is growing faster than demand, and that’s a powerful signal: the market is shifting in your favour if you’re buying.
Average Prices Dipped - but Not Dramatically
The average selling price in March 2025 dropped to $1,093,254, compared to $1,120,984 last year, a 2.5% decline.
But don’t be fooled, this isn’t a crash. This is a soft correction.
In some communities like King, average prices remain sky-high at $2,284,878, while Georgina offers more budget-friendly options with prices around $848,130.
Where Are Buyers Looking? Regional Breakdown Reveals the Truth
Here’s how the top GTA regions performed:
City of Toronto: 4,822 homes sold | Avg. price: $1,067,480
York Region: 2,212 homes sold | Avg. price: $1,226,843
Peel Region: 2,216 homes sold | Avg. price: $1,033,865
Durham Region: 1,709 homes sold | Avg. price: $903,088
Simcoe County: 428 homes sold | Avg. price: $946,800
Biggest shocker? Toronto Central saw over 2,300 sales but with the lowest median price at $755,000, a sign savvy buyers are already diving in
Homes Are Sitting Longer, And That’s a Good Thing (For Buyers)
Average Listing Days on Market (LDOM): 24 days (↑20%)
Average Property Days on Market (PDOM): 25 days (↓13.8%)
That extra time means buyers can negotiate smarter, while sellers need to step up their marketing and staging game to get noticed.
What’s Really Happening? The Market’s Mood Explained
Here’s the big picture:
Buyers are gaining ground with more inventory and flexible prices.
Sellers must price strategically and offer standout value to close deals.
Interest rates & inflation will steer what happens this spring.
What This Means For You?
If You’re Buying:
• More options, more negotiating power
• Less competition and time to make the right move
• Prices that are softer, but may not stay that way long
If You’re Selling:
• Time to nail your marketing strategy– professional photos, compelling descriptions, and strategic staging are a must
• Be realistic with pricing or risk sitting stale
• Consider buyer incentives like flexible closing or price reductions
Spring 2025 Forecast: 3 Things to Watch
Will interest rates drop? A lower rate could reignite buyer demand.
Will sales pick up? Spring often brings new momentum, but it’s not guaranteed.
Will inventory keep rising? More homes = more buyer choice and pricing pressure on sellers.
Final Takeaway: Are You Ready to Act?
Whether you’re looking to buy smart, sell fast, or invest wisely, March’s market data reveals one thing clearly: The GTA real estate landscape is changing, those who adapt will win.
Talk to Eric & Gino today for custom guidance, expert market insights, and strategies that work in today’s market.
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