I hope you're soaking up the sunshine and making the most of this beautiful summer season with your loved ones.

As we move through the summer months, the housing market is showing promising signs of improvement. Increased affordability has opened up new opportunities for buyers, with both average home prices and borrowing costs remaining below 2024 levels. Still, some potential buyers remain cautious, waiting for what they believe will be the “perfect” time to enter the market.

June, however, brought a positive shift. With more listings available, buyers gained greater choice and negotiating power—especially with interest rates lower than they were this time last year. These factors are gradually making homeownership more attainable for many in 2025.

In the Greater Toronto Area (GTA), 6,243 homes were sold in June—a 2.4% decrease from June 2024, but an increase compared to May. Interestingly, the number of new listings in June dropped slightly from the previous month, suggesting a slow tightening in available inventory.

The average selling price across all home types in June was $1,101,691, down 5.4% year-over-year.

According to TRREB’s Chief Market Analyst, Jason Mercer, resolving global trade issues and additional interest rate cuts could boost the economy and restore buyer confidence. These factors may also help support home prices in the coming months.

Condo sales remained consistent year-over-year, though the average price fell by 4.3%. Active condo listings rose 19% from last June, keeping inventory levels at about seven months. While sales volume is steady, the continued influx of new condo units may keep prices under pressure in the short term.

As summer continues, I hope you take some well-deserved time to unwind. If you’re curious about the market or have questions about your real estate plans, feel free to call or text me—I'm always here to help.