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The GTA sold more homes in July of this year than in any July since 2021. This was mainly driven by the sale of homes at lower price points, bringing more affordability to homebuyers. Listings also seemed to peak coming into July, and we’ve seen the total number of listings come down slightly. We’re likely to see that trend continue into August as some homeowners who listed in the spring and did not sell will likely decide to come off the market and wait a little longer.

The average selling price, at $1,051,719, was down by 5.5 per cent compared to July 2024. As always, I suggest that you look at your specific housing type and your specific market in our graphs to see how your home and neighbourhood are stacking up. Averages can be deceiving, as each market and home type can have different results.

For home buyers sitting on the fence, there is a great opportunity in the market to find sellers who are willing to negotiate. There is a cohort of sellers who have a higher need to move, and in those cases, we’re seeing some interesting results in the final sale prices. If you are patient and willing to negotiate, now might be the right time for you to make that move.

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