As a lifelong resident of the city, home has always been in midtown Toronto. In creating TorontoLivings, I wanted a place to share my experiences in the city, to educate our clients on the ever-changing market, and show people a side of the City that most don’t see every day.
I can’t recommend Joey … enough! His dedication and patience throughout the entire apartment search process were truly exceptional. He took the time to understand exactly what I was looking for and never made me feel rushed or pressured. Even when things got a bit challenging, He stayed positive, responsive, and completely committed to helping me find the perfect place — and we did! I’m so grateful for the time, care, and attention to detail ….. brought to every step of the journey.
Milad M
I was helping a friend in Toronto to sell his condo, and purchase a newer one. My friend asked me to look for an agent and to do the preliminary work for him, since I am already retired. He needed to find an agent, to pinpoint some possible properties to buy. I contacted eleven agents. Eight of them responded by email, and four followed up the following day by phone. I interviewed all four by phone. I liked Joey the most.
The young man was eager, polite, low pressure and knowledgeable. He answered all my questions fully and gave me the confidence I needed to pass him on to my friend. They got along well, Joey successfully sold the condo and bought him the new place, and helped along with every question and concern all along to the last minute. I am in the real estate developing business, in a different city and use agents regularly, I give Joey the highest mark in patience, kindness, and for his great attitude, He went out of his way to respond to his client, who was not very knowledgeable, and who needed hand holding with each step along the way. He also found him a great lawyer to close the deal and helped him with all sorts of last minute details. He would even respond if called late at night. If you are looking for a good, honest, sincere, knowledgeable, and hard working agent, Joey Virgilio is your man.
He and his team deliver what they promise and solve every wrinkle along the way for you!!! All the best for a great successful future Joey. Very Happy Clients.
Jordan P.
Toronto’s spring market has always set the tone for the year ahead—and April 2025 was no exception. Realtors in the GTA recorded 6,244 sales in May (reflecting April activity), a 13.3% decline from the same time last year. But while the numbers might seem underwhelming, the mood on the ground tells a more nuanced story.
New listings jumped to 21,819, marking a 14% increase year-over-year. That means buyers suddenly have options—a refreshing change after years of limited inventory. With more supply comes less competition, fewer bidding wars, and more room to negotiate.
TRREB President Elechia Barry-Sproule put it succinctly: “Buyers have certainly benefited from greater choice and improved affordability this year. However, each neighbourhood and market segment have their own nuances.”
Translation: the market is shifting, but your experience will depend on where—and what—you’re buying.
Affordability has improved. Mortgage rates have eased slightly. Listings are up. In theory, this should be a slam dunk for buyers. And yet? Many remain cautious.
The average selling price in the GTA was $1,120,879, down 4% year-over-year. The MLS® Home Price Index Composite Benchmark slipped further, down 4.5%. Still, both measures edged up slightly month-over-month, hinting that prices might be stabilizing.
So, what gives? It’s not just about numbers—it’s about confidence and at the moment, there isn’t a whole lot of it!
Want to track the financial factors influencing real estate? Canada Mortgage Trends and Bank of Canada rate updates are great places to start.
Despite a cooler year-over-year picture, recent momentum is pointing upward. April to May sales increased for the second straight month. While new listings also rose, they didn’t outpace sales—suggesting mild tightening in market conditions.
Does this mean a full recovery is underway? Not quite. But well-priced, move-in-ready homes—especially in transit-connected or walkable areas—are starting to attract serious attention.
Want a deep dive into the data? TRREB Market Watch has you covered.
Here’s what we’re noticing from our conversations and showing schedules:
Got your eye on something unique? Explore Lofts for Sale in Toronto to see what’s out there.
TRREB has emphasized that government follow-through on housing initiatives is critical. That means:
TRREB CEO John DiMichele also noted that a rate cut, especially with inflation cooling, would be a welcome boost for both new buyers and those renewing their mortgages.
Stay informed with:
Toronto’s April market felt like the start of something. Prices dipped, listings rose, and with that came renewed breathing room. While macroeconomic jitters haven’t vanished, motivated buyers are quietly stepping forward.
If you’re planning a move, now’s a great time to get your ducks in a row—before competition heats up again.
Book a Buyer Consultation to map out your next steps, or send us a message using the form below!
5 star service from Mark the Shark! 3rd time working with Mark now and every experience has been spectacular. From start to finish, communication has been seamless with outstanding work ethic. Highly recommend! Fantastic podcasts with Joey as well with a wealth of knowledge navigating the market in every season . Keep up the great work gentlemen!
Anthony N.
I crossed paths with Joey four years ago when he helped me find my first place in Toronto, and I couldn’t have been more grateful for his assistance. When I had to move again, there was no question who I’d reach out to—Joey was the first person I contacted, and I’m so glad I did! I always felt supported and confident in Joey’s guidance, and his kindness and patience truly set him apart. If you’re looking for a realtor who genuinely cares and has your best interests at heart, Joey is the one to call!
Diana N.
Let’s kick things off with some good news: homeownership in the GTA just got a little more affordable. Compared to March 2024, borrowing costs are down, home prices have dipped, and monthly payments are easing. For would-be buyers, that’s a welcome shift after years of relentless price growth and tight supply. Sounds like a win, right?
Well… yes and no.
According to TRREB, 5,011 homes sold in March 2025 — a sharp 23.1% decline compared to the same time last year. Meanwhile, 17,263 new listings hit the market, representing a 28.6% year-over-year increase. That’s a notable rise in inventory, but fewer transactions are closing.
This growing disconnect between supply and demand signals a deeper shift in buyer behaviour. Whether it’s higher interest rates earlier in the year, uncertainty around employment, or just the overwhelming number of options, buyers are taking their time. They’re comparing, calculating, and — more often than not — waiting.
“Once consumers feel confident in the economy and their job security, home buying activity should improve,” said TRREB President Elechia Barry-Sproule.
In other words, this is more about psychology than pricing. Confidence — or the lack of it — continues to shape how and when deals get done.
The MLS® Home Price Index Composite benchmark dropped 3.8% year-over-year, while the average selling price landed at $1,093,254, a 2.5% decline from March 2024.
Month-over-month on a seasonally adjusted basis? Prices were essentially flat. That stability could suggest we’re nearing the bottom of the current price cycle. While that doesn’t mean prices will suddenly rebound, it does imply we may be entering a phase of price normalization, where the swings aren’t as dramatic — at least for now.
Across the GTA, pockets of opportunity are emerging. Detached homes in outer-416 zones, for instance, are seeing greater price flexibility. And for first-time buyers? Smaller condos, especially in older buildings, may offer better value than they have in recent memory.
The silver lining this month is clear: affordability has improved. With lower borrowing costs, more listings to choose from, and sellers increasingly open to negotiation, buyers have the kind of leverage that was virtually unheard of just a few years ago.
Yet many are still cautious. Why?
Between federal election buzz, trade policy uncertainty, sticky inflation, and concerns about job security, it’s a cocktail of hesitation. Add in memories of recent market volatility — and for some, declining home equity — and it makes sense that people want to be sure before making big moves.
“Home buyers need to feel their employment situation is solid before committing to monthly mortgage payments over the long term,” added TRREB’s Jason Mercer.
Anecdotally, we’re seeing more conditional offers, longer decision cycles, and increased reliance on financial advisors and mortgage pre-approvals. This isn’t panic — it’s prudence. And in today’s market, that mindset is driving the tempo.
Yes, affordability is improving and options are expanding. But for now, many buyers are keeping their hands in their pockets. That said, markets like this can create rare opportunities — especially for those willing to move when others wait.
If you’re thinking about buying, selling, or just want to understand where you stand, let’s talk. Whether you’re upsizing, downsizing, or exploring a new neighbourhood, we’ll walk you through what’s moving (and what’s not) — and help you navigate every step with clarity.
Joey was exactly whom I needed to sell my condo and help me buy a new one I have little experience buying and selling and I would have been lost without him on a daily basis He walked me through everything from beginning to end step by step I recommend Joey and his team, he’s honest, dedicated, patient, organized, methodical and he went above his call of duty and I always felt at ease with the way he handled the situation.
Joseph R.
Mark and team were outstanding in helping us with the sale of our home and second property overall with Mark & team. While this sale had it’s challenges Mark always maintained a positive, professional attitude and always wanted what was best for us and our property.
Rolando D.
A Cooler Month, But Buyers Hold the Advantage
February 2025 delivered another month of subdued sales across the Greater Toronto Area (GTA) real estate market—but for buyers, the upside was choice. TRREB reported just 4,037 sales through the MLS system, marking a 27.4% decline compared to the same time last year. However, new listings climbed 5.4% year-over-year to reach 12,066. That surge in inventory gave buyers the upper hand in negotiations, especially those less reliant on financing.
So why the slowdown? In a word: affordability. Mortgage rates are still biting into monthly budgets, keeping many would-be buyers on the sidelines – the desire to buy is there, but the numbers don’t yet pencil out for the average household.
With demand down and supply up, prices followed suit. The average selling price across the GTA landed at $1,084,547 in February—down 2.2% from a year earlier. The MLS Home Price Index (HPI) Composite benchmark dipped 1.8% over the same period.
Month-over-month metrics (adjusted for seasonality) also edged slightly lower, suggesting softness in the short term. But this isn’t necessarily a red flag. Market lulls this time of year aren’t unusual, and we’re still navigating some choppy economic waters.
Beyond borrowing costs, there’s a broader confidence issue brewing. TRREB Chief Market Analyst Jason Mercer highlighted that some buyers appear to be adopting a wait-and-see mindset. Concerns about Canada’s trade relationship with the U.S. and uncertainty around provincial and federal housing policies have added to the hesitancy.
What happens next may come down to two things: policy clarity and interest rate direction. A decline in borrowing costs—which many economists expect by mid-2025—could help reinvigorate the market. But consumers will likely want more reassurance about economic stability before jumping in.
There’s still room for optimism as we move toward the busier spring market. A few key things to watch:
We’re not in recovery mode just yet—but the foundation is being laid.
The answer depends on your situation. For upsizers, downsizers, and cash-ready buyers, today’s inventory-heavy market offers more choice and more leverage than we’ve seen in years. If you’re in a position to act, this lull could be an opportunity.
That said, if your budget is tightly tied to interest rates, waiting a few more months could mean accessing more purchasing power.
One thing remains clear: Toronto’s real estate market is still very neighbourhood-driven. While the overall stats show a slowdown, specific pockets might tell a different story. As always, smart strategy starts with local insight.
Want to chat further? Send us a message below!
A Cool Start to the Year—But Don’t Let That Fool You
If you judged 2025 by January alone, you might think we were in for another sluggish year. Realtors reported 3,847 home sales through TRREB’s MLS® System, which marked a 7.9% decline compared to January 2024. But zoom in and you’ll see a different story: seasonally adjusted sales actually increased from December 2024. Momentum, it seems, is starting to build.
On the supply side, there’s been a dramatic shift. New listings surged 48.6% year-over-year, reaching 12,392. This uptick suggests that sellers are feeling more confident heading into the spring market, giving buyers more options to work with.
While transaction volumes dipped, prices remained surprisingly steady. The average selling price across the GTA hit $1,040,994, up 1.5% compared to the same time last year. The MLS Home Price Index Composite Benchmark also posted a modest gain of 0.44% year-over-year.
What does this mean? In a word: balance. Condos remain plentiful and price growth is muted. But for single-family homes, especially in tight-supply pockets, values are inching upward. TRREB expects this trend to accelerate as borrowing costs continue to ease.
If January is the warm-up, the rest of 2025 could be the main event. TRREB forecasts 76,000 total home sales this year—a 12.4% increase over 2024. This optimism stems from one major factor: lower mortgage rates.
More affordable borrowing means more would-be buyers will step off the sidelines. TRREB anticipates the average GTA home price will reach $1,147,000 by year-end, a 2.6% bump that keeps pace with inflation.
This isn’t a return to bidding-war chaos—and that’s a good thing. It’s a sign of a healthier, more sustainable market.
Beyond numbers, TRREB’s annual outlook highlights a structural message: Toronto needs more diverse housing.
From purpose-built rentals to townhomes and multiplexes, the GTA’s future depends on supply that fits real-world budgets. TRREB President Elechia Barry-Sproule emphasized the need for “missing middle” options, while CEO John DiMichele pointed to the hurdles: development charges, taxes, and red tape that slow down new builds.
If affordability and traffic congestion are interconnected challenges, then coordinated solutions are the only way forward. We need policy that encourages building — not barriers that stall it.
With inventory up and prices still relatively stable, the early-year market presents real opportunity for both buyers and sellers.
For buyers: now is the time to revisit that mortgage pre-approval, build your wishlist, and line up financing ahead of a likely busier spring.
For sellers: increased listings mean more competition. Proper pricing, presentation, and marketing matter more than ever. If you’re thinking of moving, acting early might just give you an edge.
Curious about how these trends affect your specific neighbourhood or property type? Let’s connect—we’re always happy to translate market shifts into smart real estate moves.
Want to learn more about Toronto condo prices or explore why purpose-built rentals are gaining traction? We’ve got you covered.
