TRREB Releases 2025 Q3 Condo Market Statistics

Greater Toronto Area (GTA) condominium apartment sales edged up in the third quarter of 2025 compared to Q3 2024. Active condo listings at the end of the third quarter were up by a greater annual rate than sales, keeping the market well-supplied. With listing inventory high historically, buyers continued to benefit from substantial choice and negotiating power on price.

There were 4,375 condominium apartment sales reported through the TRREB MLS® System in Q3 2025 – up by 2.5 per cent compared to 4,269 sales in Q3 2024. The number of new listings entered into the System was down year-overyear by 2.7 per cent. Despite Q3 new listings trending lower annually, active listings at the end of the period were up, reflecting the high level of standing inventory.

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The negotiating power afforded to buyers by high inventory levels saw the average condo apartment selling price drop by 6.4 per cent year-over-year in Q3 2025 to $649,168 compared to the average of $693,452 reported a year earlier. The average price in the City of Toronto, at $677,095, was higher than the GTA average, but still down from the Toronto average of $713,678 in Q3 2024.

Looking forward, the GTA condo market should continue to benefit from approved affordability. Lower average selling prices combined with lower mortgage rates will likely entice more first-time buyers off the sidelines. However, a potential drag on this movement into home ownership could be the fact that renters are currently benefitting from lower average rents. Therefore, renter households may have less of a financial impetus to move into home ownership.