March 2025 marked one of the slowest months for Toronto real estate in the last 30 years, a trend that has left many buyers and sellers wondering where the market stands. While activity may have slowed, there are still important indicators and opportunities to pay attention to.
Where We Stand: Three Years from the Peak
This March marked exactly three years since Toronto's real estate market hit its peak. For the broader GTA, the peak occurred in February 2022. In the City of Toronto itself, that peak extended into March and April. While sales volume has dropped significantly since then, prices have remained relatively strong—March 2025 recorded the highest average prices for the month of March since that 2022 peak.
Interest Rates and Economic Outlook
The Bank of Canada lowered its overnight rate by another 0.25% in March, continuing the trend of easing borrowing costs. Speculation is growing that we may see another rate cut in April, depending on economic signals and ongoing discussions around trade tariffs. Fixed mortgage rates remain volatile but have shown some of the most competitive numbers in recent years.
Condos Still a Major Player
Despite overall transaction volumes being down, condos accounted for 45% of sales in Toronto this March. While total sales activity was low—only 1,887 transactions compared to the record-setting 5,338 in March 2021—the numbers show that demand for condos is still holding a significant share of the market.
What This Means for Sellers
With fewer transactions and more competition, sellers need to ensure their properties stand out. Pricing, presentation, and marketing are not optional—they are essential. A strong strategy can make the difference between attracting serious interest or sitting on the market.
Insights for Buyers
Well-priced and well-presented properties are still drawing strong interest, with many receiving multiple offers. However, some offer dates are passing without firm sales, signaling opportunities for prepared buyers. Having financing in place, knowing what you’re looking for, and being ready to move can be key advantages in this environment.
Inventory Levels and Market Type
Toronto’s detached market currently has 3.76 months of inventory, slightly lower than February’s 4.24. This is a sign of movement toward a seller’s market. Semis are at around 2 months of inventory—typically the threshold for multiple offers—while townhouses and row homes saw more listings come to market with fewer sales, increasing their available inventory. Condo inventory remained largely flat.
March 2025 may go on record for its low sales numbers, but the market is still active and responsive to well-positioned properties. Buyers remain cautious yet ready, and sellers must meet them with strong, thoughtful approaches. As we step further into the spring market, attention to detail and smart strategy will define success.
Where We Stand: Three Years from the Peak
This March marked exactly three years since Toronto's real estate market hit its peak. For the broader GTA, the peak occurred in February 2022. In the City of Toronto itself, that peak extended into March and April. While sales volume has dropped significantly since then, prices have remained relatively strong—March 2025 recorded the highest average prices for the month of March since that 2022 peak.
Interest Rates and Economic Outlook
The Bank of Canada lowered its overnight rate by another 0.25% in March, continuing the trend of easing borrowing costs. Speculation is growing that we may see another rate cut in April, depending on economic signals and ongoing discussions around trade tariffs. Fixed mortgage rates remain volatile but have shown some of the most competitive numbers in recent years.
Condos Still a Major Player
Despite overall transaction volumes being down, condos accounted for 45% of sales in Toronto this March. While total sales activity was low—only 1,887 transactions compared to the record-setting 5,338 in March 2021—the numbers show that demand for condos is still holding a significant share of the market.
What This Means for Sellers
With fewer transactions and more competition, sellers need to ensure their properties stand out. Pricing, presentation, and marketing are not optional—they are essential. A strong strategy can make the difference between attracting serious interest or sitting on the market.
Insights for Buyers
Well-priced and well-presented properties are still drawing strong interest, with many receiving multiple offers. However, some offer dates are passing without firm sales, signaling opportunities for prepared buyers. Having financing in place, knowing what you’re looking for, and being ready to move can be key advantages in this environment.
Inventory Levels and Market Type
Toronto’s detached market currently has 3.76 months of inventory, slightly lower than February’s 4.24. This is a sign of movement toward a seller’s market. Semis are at around 2 months of inventory—typically the threshold for multiple offers—while townhouses and row homes saw more listings come to market with fewer sales, increasing their available inventory. Condo inventory remained largely flat.
March 2025 may go on record for its low sales numbers, but the market is still active and responsive to well-positioned properties. Buyers remain cautious yet ready, and sellers must meet them with strong, thoughtful approaches. As we step further into the spring market, attention to detail and smart strategy will define success.
