Quarterly Resale Condo Report 2025

The GTA condo resale market continued to soften in March, with a total of 1,404 resale condos sold, down 23% annually. Active listings reached a record-high 8,659 units at month-end, up 48% from last year. The resulting 6.2 months of supply was triple the historical norm of 2.0 months of inventory.

Prices continued their downward trend, with the average selling price declining 2.6% year-over-year to $682,019. This marked the third consecutive annual decline, bringing prices 15.7% below the 2022 peak of $808,921, however, 3.5% higher than in March 2020, when the average was $659,228.

In contrast, the GTA condo rental market showed signs of stability in March, as demand kept pace with supply and average rents held steady from February. Lease transactions rose 31% year-over-year to 4,623 units, mirroring a 31% increase in new listings to 6,625 units. Both figures represented record highs.

A surge in condo completions continued to add upward pressure on active rental listings, which climbed 30% annually to 6,385 units. Despite the increase in supply, the months of inventory remained unchanged from last year at 1.4 months, marginally above the long-term average of 1.0. Average transacted rents saw a slight monthly gain of 0.2%, reaching $2,624, the first month-over-month increase in eight months. However, on a year-over-year basis, average rents declined 4.2%. Even so, rents remained 10.4% higher than they were five years ago at the onset of the pandemic in March 2020.

With the steady flow of new condo units reaching completion, we can expect continued pressure on prices in the resale market due to rising inventory levels. However, it’s encouraging to see signs of stability in the rental market, with demand keeping pace with supply and average rents beginning to level out.

This renewed stability is a positive signal for investors, who may be prompted to take a closer look at the condo market as they search for long-term opportunities in a more balanced environment. As rental performance strengthens, it could help offset some of the challenges in the resale segment and support renewed condo buyer confidence.