The volume of home sales in the Toronto area increased for a fifth consecutive month in July, according to the Toronto Regional Real Estate Board.Cole Burston/The Globe and Mail
Toronto home sales and prices climbed in July, a sign that the country’s largest real estate market could be on its way back up.
There were 5,582 transactions in the Toronto area last month, according to the Toronto Regional Real Estate Board, or TRREB.
That was 3.2 per cent higher than June, after removing seasonal influences, and marked the fifth straight month of increasing sales volume.
Activity remained muted compared with historic norms, however, with last month’s sales 27 per cent below the 10-year average for July, according to the board.
Meanwhile, new listings fell 1.5 per cent from June to July, with fewer homeowners putting their properties up for sale. That was the third straight month of declines.
TRREB said increased sales combined with fewer new listings suggests that prospective homebuyers faced more competition, which could eventually boost prices in the second half of the year.
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The typical home price, as per TRREB’s home price index, was $933,800 in July. That was 0.3 per cent higher than June, making for the second month in a row that values increased.
Compared with last July, the home price index was down 4.6 per cent. Condos recorded the largest decline in value, with a year-over-year drop of 7 per cent. Townhouses declined by 6 per cent and detached houses decreased by 4.6 per cent.
Most of the suburbs near Toronto recorded steeper drops than the city.
Toronto’s home price index has declined by 3.8 per cent year-over-year, while in York Region, to the north of the city, the home price index was down 6.3 per cent compared with July, 2025.
In Peel, to the west, the typical home price was down 5.7 per cent over the same period. In Durham, to the east, the price was down 5 per cent.
In Halton, a wealthier area that includes Oakville, the typical price was down by 3 per cent.
Summer is traditionally a slow season for activity. However, the industry expects prospective buyers to show more interest if economic turmoil from the U.S. trade dispute and Middle East war subsides.
“Many would-be homebuyers are waiting for confidence in the market and broader economy to improve before making a purchase,” TRREB president Daniel Steinfeld said in a statement.