Condo Market Report
TRREB Releases 2025 Q1 Condo Market Statistics
Condominium apartment buyers benefitted from more choice in the Greater Toronto Area (GTA) marketplace in Q1 2025 compared to the same period last year. The number of transactions was lower, whereas the number of listings was up. Increased choice provided buyers with more negotiating power on price.
Q1 2025 condominium apartment sales amounted to 3,794 in the GTA – down 21.7 per cent compared to 4,843 sales in Q1 2024. There were 14,544 new listings in Q1 2025 – up by 25.2 per cent year-over-year to 11,614.
The Q1 2025 average selling price was $680,146. This result represented a 2.2 per cent decrease compared to the average of $695,555 in Q1 2024.
Consumer polling undertaken by Ipsos for TRREB suggests that would-be homebuyers still require some relief on the borrowing cost front. In addition, confidence in the economy has temporarily waned due to uncertainty surrounding Canada’s trade relationship with the United States.
Because the condominium rental market has also been well-supplied over the past year, fewer renters have entertained the move to home ownership. Instead, renters have taken advantage of increased inventory to negotiate more competitive monthly rents.
The expectation is that we will see further rate cuts in 2025. Once economic confidence improves in the months ahead, the demand for condominium apartments should increase as well.