The housing market in the Greater Toronto Area lost some steam in July, with sales slipping slightly following four months of year-over-year gains.
Residential sales in the region totaled 5,995 in the month, a decrease of 0.9% compared to July 2025. But sales rose 3.2% from June, seasonally adjusted.
The average selling price was down 4.5 per cent from last year to $1,003,956, said the Toronto Regional Real Estate Board (TRREB).
The composite benchmark price, intended to represent the price of a typical home, also dropped 4.6 per cent from a year earlier.
Less inventory and fewer listings
July saw lower market supply as well.
New listings during the month were 14,484, a 17.8 percent decrease compared to July 2025.
Total active listings fell 12.1% to 26,098 from a year ago.
If the trend continues, sales now accounting for a bigger chunk of available listings could leave buyers with less room to negotiate, said TRREB president Daniel Steinfeld.
He said if current market conditions continue there could be some stabilization in prices relative to year-ago levels.
But many prospective buyers are sitting on the sidelines, waiting for more confidence in the housing market and the economy in general.
Factors affecting buying decisions include continued uncertainty about tariffs, inflation and borrowing costs, Steinfeld said.
Toronto outpaces wider GTA
The degree of housing activity differed between the City of Toronto and the rest of the Greater Toronto Area.
In the city itself, 2,242 homes were sold in July, up 2.4 per cent from the same month last year.
Sales outside Toronto were down 2.7 per cent to 3,753 homes.
Activity was down across the region in most housing categories.
Detached homes alone showed growth from one year to the next, with sales rising 0.6%.
The biggest fall was in semi-detached properties, down 5.9%.
Townhome sales declined 2.7%, condominium activity was nearly flat, down just 0.1%.
The numbers for July point to a housing market that is still cautious, with lower prices and less inventory shaping conditions as buyers and sellers continue to assess the direction of the economy and borrowing costs.
