June 2025 brought a modest recovery in the GTA housing market, with both sales and new listings showing slight improvements compared to May. While activity remains subdued compared to last year, the shift could signal renewed buyer interest, especially as Canadians anticipate further interest rate cuts.
But what does this mean for homebuyers, sellers, and those considering refinancing? Here’s what you need to know, and how Cannect can help you make the most of the market.
GTA Home Sales: Up Month-Over-Month, Down Year-Over-Year
According to the latest data from the Toronto Regional Real Estate Board (TRREB), 6,213 homes were sold in the Greater Toronto Area in June 2025, representing an upward shift of 8.8% from May. However, sales remain down 16.4% compared to June 2024.
The sales uptick suggests that some confidence is returning to the market, but affordability challenges and high borrowing costs continue to weigh heavily.
More Listings Mean More Choice for Buyers
New listings rose 7.7% year-over-year to 19,839 units, giving prospective buyers a broader selection. This increase in inventory is good news for anyone entering the market or shopping for better mortgage terms. For Cannect clients, this creates an opportunity: More listings + softening prices = better negotiation power and room for mortgage flexibility.
Average Home Prices Slide Slightly
The average selling price across the GTA in June was $1,162,167, a 5.4% drop compared to last year and a 1.7% decline from May. The MLS® Home Price Index Benchmark also fell 4.6% year-over-year. Here’s how the numbers break down:
| Home Type | Avg. Price (June 2025) | YoY Change |
| Detached | $1,390,000 | -6% |
| Semi-Detached | $1,030,000 | -4% |
| Townhouse | $940,000 | -3.5% |
| Condo | $696,000 | -4.2% |
Lower prices mean better entry points for first-time buyers and more refinancing options for existing homeowners.
Interest Rate Sentiment: Still High, But Expected to Drop
Although the Bank of Canada held its policy rate steady at its last announcement, market experts predict more cuts could be on the horizon in Q3 and Q4. Inflation has cooled significantly, but core measures remain above target.
This is where Cannect’s mortgage specialists can help you plan:
- Lock in a rate now if you’re worried about sudden increases.
- Explore variable rate options that may benefit from upcoming cuts.
- Refinance your mortgage to lower monthly payments and access equity.
Regional Snapshot: Toronto vs. 905 Markets
| Region | Sales YoY | New Listings YoY |
| City of Toronto (416) | +3.4% | +2.7% |
| GTA Suburbs (905) | -5.5% | +10.7% |
While Toronto proper saw slight sales growth, the 905 area experienced declines in both sales and prices, giving suburban buyers even more leverage in negotiations.
What Does This Mean for You?
Whether you’re:
- A first-time buyer trying to navigate a tricky market
- A homeowner thinking about refinancing or tapping into home equity
- An investor exploring real estate-backed income options…
Now is a great time to review your mortgage strategy with Cannect. Our expert, non-commissioned advisors will help you:
- Get the lowest possible rate, guaranteed
- Choose between fixed vs. variable based on your goals
- Refinance to reduce monthly payments or unlock home equity
- Learn how to invest in Cannect’s Mortgage Investment Corporation for up to 8.14% annual returns
Ready to Take the Next Step?
📞 Book a free call with a Cannect advisor
Watch our Make Money Count videos to gain more insights.
