The latest numbers are in for March, and there’s a clear shift happening in the GTA real estate market. While home sales have slowed, affordability and inventory are both trending in the right direction—especially for buyers.

In March 2025, the average selling price across the GTA was $1,093,254, down 2.5% compared to the same time last year. The MLS® Home Price Index Composite benchmark also declined by 3.8% year-over-year. So while prices haven’t dropped dramatically, they’ve come down just enough to improve affordability, especially alongside lower borrowing costs.

Sales activity, on the other hand, was quieter. GTA REALTORS® reported 5,011 home sales last month, which is a 23.1% drop from March 2024. But despite the slower pace, new listings were up—significantly. Over 17,000 homes came on the market, marking a 28.6% increase from the year before.

This increase in supply means buyers have more choice than they’ve had in recent months, and that can bring more flexibility when it comes to price and terms. TRREB is also anticipating further rate cuts this spring, which could continue to improve affordability and spark more confidence across the board.

Still, it’s worth noting that many buyers remain cautious. Uncertainty around the economy, interest rates, and the upcoming federal election has some people in wait-and-see mode. As TRREB’s President, Elechia Barry-Sproule, put it, homeownership has become more manageable—but consumers are still looking for signs of economic stability before making long-term commitments.

If trade-related challenges settle and job confidence improves, we could see momentum build quickly. That means the window of opportunity for buyers—more listings, less competition, better prices—might not last forever.

Whether you’re planning to buy, sell, or just curious about where you stand in this shifting market, it’s always a good idea to have a conversation. Spring is a great time to explore your options, and I’m here to help you figure out what makes the most sense for your goals.