The Numbers for February are in!

While home sales slowed last month, demand remains strong as many Toronto households are eager to purchase a home. The challenge? Affordability. Higher mortgage rates continue to impact buyers’ ability to comfortably enter the market, but relief could be on the horizon. With borrowing costs expected to decline in the coming months, many buyers may soon be ready to make their move.

In February 2025, Toronto home sales were down 22% year-over-year, while new listings increased by 7%. This has given buyers more negotiating power, keeping price growth moderated. The average selling price inched up 1% to $1,087,077 compared to last year.

Beyond affordability, economic uncertainty—particularly around trade relations with the U.S.—has led some buyers to take a “wait and see” approach. However, as confidence improves and interest rates ease, stronger sales activity is expected in the latter half of the year.

Looking to buy or sell a home in Toronto? Average prices in February were as follows:

➕Detached $1,782,2626 [+8% vs. 2024]
➕Semi-detached $1,275,214 [-3% vs. 2024]
➕Townhouse $1,028,339 [+6% vs. 2024]
➕Condo $724,632 [0% vs. 2024]

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Data presented is for City of Toronto Only. Source: TRREB.