Greater Toronto, Ontario, Tuesday August 6th, 2025 - The Toronto Regional Real Estate Board [TRREB] Monthly MLS® residential stats publication MarketWatch was released today by board President Elechia Barry-Sproule summarizing home sales reported by member Realtors® for the month of July 2025. While the report suggests that there was "a modest tightening in the market compared to last year" - comparing sales relative to listings - we'd like to point out that that comparison is based on "New Listings".
As noted here many times before, we far prefer the “Total Active Listings” statistic as a more accurate measure of current inventory. “New Listings” can be a “muddy” stat because of the way it is calculated in our opinion: “New” includes listings that were not in fact new, but instead were terminated and re-listed, often coincident with a price adjustment. In other words, a percentage of those listings were not really “new” at all. Unfortunately, the report does not offer any differentiation between those two.
Of course, the flipside of that is that, stripping out those "re-lists," there are actually fewer true New Listings entering the market than the stat indicates.
The board's report also doesn't break out “Bungalow-specific” stats. We offer a region-by-region Bungalow summary which you can access from our Bungalow QuickStats page here.
Overall…
…meaning all home types and styles across all of TRREB's primary geographic trading area, 6,100 "firm" sales were reported - up 10.9% from last July - at an average selling price of $1,051,719 which was 5½% below last year's average price - welcome news for those would-be home buyers who've been priced out of the market…not so great, obviously, for sellers.
More good news for the buyer side: The Total Active Listings as of month end came to 30,215 - that represents a 26.2% increase over last July's 23,936 homes available for sale. "New Listings" were up 5.7 percent. Comparing that to the 10.9% increase in sales volume is where the report concludes there was a "tightening" in the market.
Because of the general strong seasonality of the residential real estate market, all figures quoted herein are year-over-year comparisons, unless noted otherwise.
Specific Numbers
Metropolitan Toronto - “The 416” area code, generally - Saw 675 sales of Detached homes reported on the month, a 12.5% increase, at an average sale price of $1,572,832, off 4.6%. The balance of the market area - the 905 area code, generally - saw 2,120 sales of Detached homes, a 10.9% rise over last year, at an average $1,294,424, down 5.4%.
Sales volume of Condominium Apartments saw a more modest rise of 3.4% to 1,028 units. The average price of those sales was $684,257, down 8.6 percent. In the balance of the market area, there were 548 units sold, up 10.7 percent, at an average of $590,004, down 10.3 percent.
Overall, the Condo Apartment market continues to struggle in the face of bloated inventory - though even there we saw that modest uptick in sales volume.
As empty nesters and "matures" look at downsizing - among other demographic groups with which they're popular - Bungalows for sale tend to be at the other end of the spectrum in popularity (and have been for a while for that matter) versus Condos - particularly for well-maintained offerings in good ‘hoods AND at the more median / moderate price points.
We’re seeing elevated activity in the Single Storey markets in Southern Ontario Regions & Counties such as Wellington, Brant/Brantford, Niagara, Kawartha Lakes, Northumberland, Peterborough, Prince Edward, Kitchener-Waterloo, Grey etc.
Closer in to Metro T.O., we always see lots of activity in Regions like Peel, Durham, Halton, and York. As for Bungalows for sale in Toronto itself, not so much. It's a little quiet at the moment, relatively. Not sure why. It does tend to ebb and flow all over the area… Toronto price points, 2x land transfer tax etc., may be a factor there.
Bungalows in the Counties of Dufferin, Haldimand, Simcoe, and Hastings have been very popular for many months - assumingly because of generally - significantly - more moderate median price points.
In the area we've referred to in the past as simply "The Near North" - Muskoka, Haliburton, and Parry Sound - we're also seeing elevated activity… but that's at least in part because we're thrilled to have recently added a broader data feed for that area.
In the case of folks downsizing, there's also an obvious trend toward buying down price-wise and taking some of those principal residence tax-free dollars off the table to pad retirement accounts, help out the kids, and the like.
Quoting…
...from our fearless leaders in this month’s report -
John DiMichele, TRREB CEO:
“Despite widespread belief that the federal foreign buyer ban prohibits all foreign nationals from purchasing residential properties in Canada, there are exemptions that allow non-residents to buy property, resulting in spin-off benefits to the economy. Foreign buyers can purchase multi-unit buildings with four or more units and vacant land or land for development. Non-residents can also buy other residential properties outside urban centres, including recreational properties."
TRREB Chief Information Officer Jason Mercer:
“Recent data suggest that the Canadian economy is treading water in the face of trade uncertainty with the United States. A key way to mitigate the impact of trade uncertainty is to promote growth in the domestic economy. The housing sector can be a catalyst for growth, with most spin-off expenditures accruing to regional economies. Further interest rate cuts would spur home sales and see more spin-off expenditures, positively impacting the economy and job growth.”
TRREB President Elechia Barry-Sproule:
“Improved affordability, brought about by lower home prices and borrowing costs, is starting to translate into increased home sales. More relief is required, particularly where borrowing costs are concerned, but it’s clear that a growing number of households are finding affordable options for homeownership.”
Hey, we don't write ‘em… we just “report” ‘em. 😉
Some Final Notes…
For an idea of just how much home listing inventory we have given the current market climate at any given point in time we calculate “Forward Inventory”: Total Active Listings divided by sales volume for the month. This answers the question: “How long would it take to sell all the homes currently listed - given a constant rate of sales - going forward?”
With listings totalling 30,215 and sales volume of 6,100, that comes to just shy of 5 months of supply…pretty high by historical standards. To our way of thinking, that's a function of continuing elevated price levels - despite recent price softness - combined with interest rates… both of which - obviously - result in higher carrying costs.
Not surprisingly, homes sold “25% slower” this July at 30 days on the market [24 days last July]. From an historical standpoint, that's actually still pretty quick. The longer-term average Days on Market figure is more in the range of 45 to 60 days.
Again, that's based on the “LDOM” figure - “Listing Days on Market” - rather than the “PDOM” - “Property Days on Market”. As per TRREB: "Average Property Days on Market ("Avg. PDOM")...takes into account sold properties that were listed more than once by the same combination of owner, brokerage and salesperson during the original contract period". The former metric only considers the listing that was in effect when the property "sold firm" [e.g. as opposed to "sold conditionally"... sold, but still subject to "conditions" such as Financing approval, Home Inspection, etc].
“PDOM” is - therefore - the more relevant stat… though “incomplete”: It doesn’t account for the homes that sold on the second or third (or more) listing attempt IF the home was listed with a different owner name and/or listing brokerage and/or listing sales representative.
Of course everything above has to be viewed in the context of that "seasonality" thing: "The Dog Days of Summer" are notoriously slow for real estate sales. The only slower time of year is the January-to-mid-February period when so many peeps are Holidaying and/or hibernating and/or "SnowBirding", etc… generally speaking, of course.
That's a wrap for this month. Thank you for your time. As the weather moderates a little, get outside and enjoy... Before long, the leaves will be falling… and then the snowflakes! 🌳🌻😎🏌️♂️🍉☀️🏊♀️
Questions? Comments? Criticisms? Drop us a line at the link below!
Andrew for theBB.group and JustBungalows.com
#JustBungalows
#theBB.group
Questions? Comments? ...We'd ❤️ to hear from you: You can drop us a line here!...
Set Up Your Own Customized SmartSearch
What's your property worth today?
Browse GTA Bungalows by City / Region
Durham Region | Halton Region | Peel Region | Simcoe County |
Toronto by Boroughs | Toronto by Neighbourhoods | York Region
Browse "Beyond the GTA" Bungalows by City / Region
Brant & Brantford Township | Dufferin County | Grey County | Guelph & Wellington County | Haldimand County | Haliburton County | Hamilton [City] | Hastings County | Kawartha Lakes | Kitchener-Waterloo & Cambridge | Muskoka District | Niagara Region | Northumberland County | Parry Sound District | Peterborough City & County | Prince Edward County