In February 2025, new home sales in the Greater Toronto Area (GTA) reached a historic low, as uncertainty surrounding upcoming U.S. tariffs further heightened buyers’ existing concerns.
In February 2025, new home sales in the Greater Toronto Area (GTA) reached a historic low, as uncertainty surrounding upcoming U.S. tariffs further heightened buyers’ existing concerns.
In February, 400 units were sold, a 50% decrease compared to last year. Condo apartments accounted for 152 of these sales, down 62% from February last year and 90% below the ten-year average. There were 248 new single-family homes sold, a 38% decrease from February last year and 75% below the ten-year average.
The benchmark price for new condo apartments in February was approximately 1.02 million, a 2.4% decrease year-over-year; the benchmark price for new single-family homes was about 1.54 million, a 2.9% decrease year-over-year. Additionally, the remaining inventory of new homes was 21,863 units, including 16,995 condo units and 4,868 single-family homes.