by Phil Tsekouras | July 15, 2025
Royal LePage says the aggregate price of a home in the Greater Toronto Area dropped 3 per cent year over year in the second quarter of 2025, as prospective buyers chose to take a wait-and-see approach amid “global economic uncertainty.”
The real estate company released its findings in the national House Price Survey and Market Forecast report on Tuesday, July 15th 2025 and said the spring surge in market activity it typically sees “failed to materialize,” which, it said, resulted in “more of a blip than a boom” in the Toronto housing market.
According to the data, the aggregate price, which is calculated using a weighted average of the median values of all housing types collected, of a home in the GTA sat at $1,155,300 in Q2.
The decrease in value was more stark in Toronto proper, where aggregate prices dropped by 5.2 per cent year-over-year to $1,151,600, representing a 4.7 per cent dip in single-family detached homes and 5 per cent in condos.
“Homebuyers approached the start of the 2025 spring market with hesitation, dampening what is typically the busiest season on the real estate calendar,” Royal LePage president and CEO Phil Soper said in a statement.
“With trade disputes, a federal election, and international conflicts dominating headlines through the first half of the year, many prospective buyers chose to wait. Yet, market fundamentals remain sound; interest is strong while activity is subdued, reflecting the uncertainty weighing on consumer sentiment.”
Toronto condo market remains ‘depressed,’ says realtor
Looking at condos specifically, Royal LePage broker Shawn Zigelstein said activity in the market remains “depressed” and is being further weighed down by a “steady stream” of new builds that are adding to the glut of supply.
“With rental demand softening due in part to less international students and newcomers entering the city, investor interest in condos has declined, and fewer are adding units to their portfolios,” Zigelstein said, noting that larger condo units are attracting first-time buyers as a more attainable entry point into the market.
In Q2, the median price for a condo in Toronto was $675,800.
Royal LePage forecasts that the aggregate price of a home in the GTA will increase 2 per cent in the fourth quarter of 2025, compared to the same quarter last year.
Nationally, the aggregate price of a home in Canada will increase 3.5 per cent, the company said.