Ontario & GTA Real Estate Market Update: April 2025
By Vicky Gill – Your Real Estate Expert, Re/Max Real Estate Broker
As we move through 2025, the Ontario and Greater Toronto Area (GTA) real estate markets are facing significant changes. Whether you’re a buyer, seller, or investor, understanding these trends is essential for making informed decisions. Here’s what you need to know about the current landscape.
Housing Starts: A Notable Decline
- Recent data shows a sharp decrease in new home construction across Ontario. In March 2025, Canadian housing starts dropped 3.3% month-over-month to 214,155 units, with Ontario being the largest contributor to this decline. Housing starts in Ontario fell to just 38,600 units, a steep drop that highlights the slowdown in new builds—especially in the multi-family sector.
This trend is concerning, as new home sales—an indicator of future construction—are also falling. In the first half of 2024, housing starts in Ontario lagged behind the previous year, and June saw a staggering 44% year-over-year drop. Developers warn that this could mean even fewer homes being built in the next few years, potentially worsening the province’s housing supply challenges.
GTA Market: Prices, Listings, and Buyer Opportunities
In the GTA, the average home price for March 2025 was $1,093,254, down 2.5% from the previous year. The benchmark home price also declined by 3.8% year-over-year to $1,068,500. Detached, semi-detached, and condo apartment prices all saw modest decreases.
Despite lower prices, the number of active listings has surged—up 88% compared to last year—reaching the highest March inventory in 16 years. New listings have also increased by 32% year-over-year, creating a strong buyer’s market. The sales-to-new-listings ratio (SNLR) for March 2025 was just 29%, confirming that buyers now have more choices and negotiating power.
Six consecutive rate cuts by the Bank of Canada have yet to spark a major rebound in buyer demand. Instead, sellers are more eager to list, possibly due to economic uncertainty and shifting government policies. As a result, homes are taking longer to sell, and price negotiations are becoming more common.
What’s Ahead for 2025?
Looking forward, experts expect the Ontario housing market to remain subdued. Economic uncertainty, high construction costs, and slower population growth are likely to keep new home construction and prices in check. However, with more homes on the market, buyers in the GTA have a rare opportunity to shop around and negotiate.
Your Trusted Real Estate Partner
Navigating today’s real estate market requires experience, insight, and a commitment to your goals. As your Re/Max Real Estate Broker serving the Greater Toronto Area, I am dedicated to providing you with top-class, professional service—whether you’re buying, selling, or investing.
Have questions or ready to make your next move?
Visit VickyGill.ca
Call or Text 6 4 7, 6 5 5, 4 4 5 5
Let’s achieve your real estate goals together.
Vicky Gill – Your Real Estate Expert, proudly serving the GTA with Re/Max.
