Toronto and Vancouver real estate boards share sales data for July
The Greater Toronto Area has recorded its most active July for home sales in four years, signalling a resurgence in buyer confidence.
With stabilizing borrowing costs and rising inventory, new data from the Toronto Regional Real Estate Board reveals that 6,213 homes were sold in July, a 10.9% increase compared to the same month in 2024. This was the strongest July sales figure since 2021.
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“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,” says TRREB president Elechia Barry-Sproule.
New listings in the GTA rose 5.7% year-over-year, while active listings jumped 68.5%, giving prospective buyers more choice. Despite this inventory growth, the average selling price dipped 5.5% from July 2024 to $1,051,719.
“Recent data suggest that the Canadian economy is treading water in the face of trade uncertainty with the United States,” notes TRREB Chief Information Officer Jason Mercer. “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.”
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Meanwhile, the Greater Vancouver housing market continued a slower recovery.
The Real Estate Board of Greater Vancouver reported 2,286 residential sales for the month — a 2% decrease from the 2,333 sales recorded in July 2024 and 13.9% below the 10-year seasonal average (2,656).
“The June data showed early signs of sales activity in the region turning a corner, and these latest figures for July are confirming this emerging trend,” said Andrew Lis, GVR’s director of economics and data analytics. “Although the Bank of Canada held the policy rate steady in July, this decision could help bolster sales activity by providing more certainty surrounding borrowing costs at a time where economic uncertainty lingers due to ongoing trade negotiations with the USA.”
There were 17,000 homes listed for sale on the regional MLS with 5,642 new listings in July.
The MLS Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,165,300, down 2.7% year-over-year and a 0.7% decrease compared to June 2025.
“Although sales activity is now recovering, this healthy level of inventory is sufficient to keep home prices trending sideways over the short term as supply and demand remain relatively balanced,” says Lis. “However, if the recovery in sales activity accelerates, these favorable conditions for home buyers may begin slowly slipping away, as inventory levels decline, and home sellers gain more bargaining power.”
