Home sales across the Toronto area remained historically low in April, tracking near 30-year lows outside of the brief collapse in 2020 at the start of the COVID lockdowns. We’re now starting to see this weakness reflected in prices. Average and median home prices are down about 6–7% for both houses and condos compared to last year.
But these headline numbers mask a bigger story—one of growing regional divergence.
While sales are slow across the board, low-rise homes in the City of Toronto are holding up far better than those in the suburbs. The city has just 3.5 months of inventory for low-rise houses—well below Peel and York Regions, where inventory levels are above 5 months. That tighter supply is helping keep prices more stable in the city.
If we track month-over-month changes in median prices over the first four months of this year, Toronto’s low-rise market has moved within a narrow range—no more than 2% up or down in any given month. The suburban regions are telling a different story. In April alone, median prices fell 10% in Halton, 9% in Peel, and 7% in York.
On the ground, the contrast is even more stark. Buyers looking in central Toronto are still facing multiple offers in some neighbourhoods—something that feels totally out of step with the broader narrative of a soft market. Urban homes are clearly outperforming the suburbs, and that’s creating a disconnect between the headlines and what active buyers are actually experiencing.
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By the Numbers: April 2025
The average price for a house in the Toronto area was $1,328,957 in April, down 6% from the same month last year. Last month's median house price was $1,150,000, down 7% from the same month last year.
House sales in April were down 17% over last year, while new house listings were up 15%. The number of houses available for sale at the end of the month, or active listings, was up 65% over last year.
The current balance between supply and demand is reflected in the MOI, which measures inventory relative to the number of sales each month. In April, the MOI for houses was 4.4.
The average price for a condo in the Toronto Area was $703,153 in April, down 7% from the previous year. The median price for a condo in April was $638,000, down 7% from the previous year.
Condo sales in April were down 29% over last year, and new condo listings were up 5%. The number of active condo listings was up 47% from last year. The MOI increased to 6.9.
Browse detailed monthly statistics for April 2025 for the entire Toronto area market, including house, condo and regional breakdowns below.
Monthly Statistics
House Statistics
House sales (low-rise freehold detached, semi-detached, townhouse, etc.) in the Greater Toronto Area (GTA) in April 2025 were down 17% compared to the same month last year.
New house listings in April were up 15% compared to last year.
The number of houses available for sale (“active listings”) was up 65% in April compared to the same month last year.
The Months of Inventory ratio (MOI) looks at the number of homes available for sale in a given month divided by the number of homes sold in that month. It answers the following question: If no more homes came on the market for sale, how long would it take for all the existing homes on the market to sell, given the current level of demand? The higher the MOI, the cooler the market is. A balanced market (a market where prices are neither rising nor falling) is one where MOI is between four to six months. The lower the MOI, the more rapidly we would expect prices to rise.
While the current level of MOI gives us clues into how competitive the market is on-the-ground today, the direction it is moving in also gives us some clues into where the market April is heading.
The MOI for houses was unchanged at 4.4 in April.
The share of houses selling for more than the owner’s list price decreased to 35% in April.
The average price for a house in April 2025, $1,328,957, was down 6% from the same month last year.
The median house price in April was $1,150,000, down 7% over last year.
The median is calculated by ordering all the sale prices in a given month and then selecting the price at the midpoint of that list such that half of all home sales are above that price and half are below that price. Economists often prefer the median price over the average because it is less sensitive to big increases in the sale of high-end or low-end homes in a given month, which can skew the average price.
Condo Statistics
Condo (condominiums, including condo apartments, condo townhouses, etc.) sales in the Toronto area in April 2025 were down 29% compared to the same month last year.
New condo listings were up 5% in April over last year.
The number of condos available for sale at the end of the month, or active listings, was up 47% over last year.
Condo months of inventory increased to 6.9 MOI in April.
The share of condos selling for over the asking price decreased to 17% in April.
The average price of a condo in April was $703,153, down 7% from last year. The median price was $638,000, down 7% from last year.
Browse Real-Time Market Trends on Movesmartly.com:
See Market Performance by Neighbourhood Map, All Toronto and the GTA
Greater Toronto Area Market Trends
John Pasalis is President of Realosophy Realty. A specialist in real estate data analysis, John’s research focuses on unlocking micro trends in the Greater Toronto Area real estate market. His research has been utilized by the Bank of Canada, the Canadian Mortgage and Housing Corporation (CMHC) and the International Monetary Fund (IMF).
Have questions about your own moves in the Toronto area as a buyer, seller, investor or renter? Book a no-obligation consult with John and his team at a Realosophy here: https://www.movesmartly.com/meetjohn
