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GTA Home Listings Drop 17.8% in July, Tightening Market
New listings in the GTA plunged 17.8% in July while sales edged down just 0.9%, tightening the market and raising the odds of price stabilization this fall.
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TORONTO – Greater Toronto Area home sellers pulled back hard in July. New listings fell 17.8% from a year earlier, while sales slipped just 0.9%, the Toronto Regional Real Estate Board said Wednesday. That left buyers chasing fewer options, a shift that could put a floor under prices after a year of declines.
The average selling price landed at $1,003,956, down 4.5% from July 2025. The MLS Home Price Index composite benchmark fell 4.6%. On a seasonally adjusted month-over-month basis, the benchmark edged up from June, while the average price dipped slightly.
Active buyers are finding less room to negotiate, said TRREB President Daniel Steinfeld. “If current trends continue, home prices could start to level off compared to last year,” he said. Steinfeld pointed to uncertainty around tariffs, inflation and borrowing costs as reasons many would-be buyers are staying on the sidelines.
TRREB Chief Information Officer Jason Mercer struck a more optimistic note. “The latest readings on economic growth and jobs surprised to the upside,” he said. That could bolster consumer confidence and prompt an uptick in purchases, especially if prices stabilize through the fall, Mercer added.
On a seasonally adjusted basis, July sales rose from June while listings fell, meaning the tightening accelerated during the summer. The sales-to-new-listings ratio – a key measure of market balance – climbed, though TRREB did not disclose the exact figure in the release.