Real Estate Market May 2025

05 Jun Real Estate Market May 2025

Your May 2025 real estate market update is here! Covering Toronto, Oakville, Burlington, Hamilton and the surrounding areas.

Highlights of the real estate market from TREBB and RAHB

“The Greater Toronto Area (GTA) housing market experienced an improvement in affordability in May 2025 relative to the same period a year earlier. With sales down and listings up, homebuyers took advantage of increased inventory and negotiating power.

GTA REALTORS® reported 6,244 home sales through TRREB’s MLS® System in May 2025 – down by 13.3% compared to May 2024. New listings entered into the MLS® System amounted to 21,819 – up by 14% year-over-year. On a seasonally adjusted basis, May home sales were up month-over-month compared to April 2025. This was the second monthly increase in a row. New listings were also up compared to April, but by a lesser monthly rate than sales, suggesting a slight tightening in market conditions.

“Home ownership costs are more affordable this year compared to last. Average selling prices are lower, and so too are borrowing costs. All else being equal, sales should be up relative to 2024. The issue is a lack of economic confidence. Once households are convinced that trade stability with the United States will be established and/or real options to mitigate our reliance on the United States exist, home sales will pick up. Further cuts in borrowing costs would also be welcome news to homebuyers,” said Jason Mercer, TRREB’s Chief Information Officer.

The MLS® Home Price Index Composite benchmark was down by 4.5% year-over-year in May 2025. The average selling price, at $1,120,879, was down by 4% compared to May 2024. On a month-over-month seasonally adjusted basis, the MLS® HPI Composite and average selling price both edged up compared to April 2025.”

Over in Hamilton/Burlington – “In May, 908 units were sold across Hamilton, Burlington, Haldimand County, and Niagara North. Although sales increased by nearly 13% compared to the previous month, they were 14% lower than the same month last year, and 37% lower than typical levels in May.

“Buyers and sellers alike continue to adopt a cautious stance toward the market due to ongoing economic uncertainty and instability. Although the number of sales and new listings improved from April, they remain significantly lower than typical levels,” says Nicolas von Bredow, Cornerstone spokesperson for the Hamilton-Burlington market area. “However, with fewer sales and an increase in supply, the unadjusted benchmark price has decreased from the previous month and is nearly 10% lower than last year’s
levels.”

In May, 2,319 new listings were added across the region, maintaining the sales-to-new listings ratio at 40%, which is low enough to drive further inventory gains. Weaker sales activity combined with higher listings increased the months of supply compared to the previous month. The region has not experienced 4.1 months of supply in May since 1998.
Rising supply choices and weak demand continue to weigh on home prices throughout the region. In May, the unadjusted benchmark price was $783,100. Prices trended downwards over the last month in every region within the area, with the largest monthly and year-over-year declines occurring in Burlington.”

Questions about buying or selling? Reach out anytime, I’d be happy to discuss the market with you!

All the latest home prices and statistics by property type and city below!

Sources for Real Estate Market Update for May 2025 : Toronto Regional Real Estate Board and REALTORS® Association of Hamilton-Burlington