GTA Real Estate Market Update: June 2025
Monthly Mortgage Rate Updates
The Bank of Canada has decided to hold the policy rate steady at 2.75% as of June 4th, 2025. This decision came amid global economic uncertainty and stable yet cautious economic conditions. A key factor in holding the rates includes concerns over ongoing trade disputes affecting economic confidence.
The Prime Rate remains at 5.70%. Here are the best available mortgage rates currently:
- 3-Year Fixed: 4.72%
- 5-Year Fixed: 3.91%
- 3-Year Variable: 5.50%
- 5-Year Variable: 4.05%
Industry experts predict potential rate cuts later this year due to anticipated economic slowdowns.
Real Estate Market Insights – GTA
Sales Activity
In May 2025, GTA REALTORS® reported a total of 6,244 home sales, representing a 13.3% decrease compared to the same month last year. Despite this annual dip, a month-over-month increase signals a slightly improving market sentiment.
TRREB President Elechia Barry-Sproule noted, “Homebuyers today have more inventory to choose from and are finding greater affordability across many property types and neighbourhoods.”
New Listings
May saw 21,819 new listings—up 14% compared to May 2024, giving buyers more negotiating power and choices in today’s market.
Prices
The average selling price for a GTA home was $1,120,879, down by 4% compared with May 2024. The MLS Home Price Index Composite benchmark also saw a decrease of 4.5%.
TRREB Chief Information Officer Jason Mercer commented, “Lower borrowing costs and home prices have improved affordability, positioning buyers in a favourable market condition.”
Legal Insight: Common-Law Property Rights
In a landmark Ontario case this past May, the courts clarified property divisions for common-law couples. Previously, common-law partners had limited protections compared to married couples. The court ruled that property acquired during the relationship can now be fairly divided based on contributions made by each partner—even if only one name appears on the title.
This case highlights the importance of legal agreements between common-law partners regarding asset management, critical information for both buyers and sellers.
Featured Blog Summary
This month’s recommended read covers “Understanding Closing Costs in GTA Real Estate Transactions.” The blog clearly breaks down various costs associated with buying or selling property, such as land transfer taxes, legal fees, and inspection charges. Understanding these expenses helps you budget accurately and avoid unforeseen costs.
Fun Fact (Did You Know?)
Did you know June marks the anniversary of Ontario’s Family Law Act, passed in 1986? It significantly reshaped property rights and family law, particularly influencing homeownership within families and partnerships across the province.
Events and Activities in the GTA
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Taste of Little Italy Festival
June 20–22, College Street, Toronto.
A vibrant celebration of Italian culture featuring authentic cuisine, live music, and family-friendly activities. -
Toronto Jazz Festival
June 21–30, various locations across downtown Toronto.
Renowned musicians gather for a week-long jazz festival in the heart of the city. -
Canada Day Fireworks
June 30, Ashbridge’s Bay Park, Toronto.
An awe-inspiring fireworks display celebrating Canadian pride!
Closing Remarks & Call to Action
Navigating the GTA real estate landscape can be tricky—but it doesn’t have to be. Whether you’re buying, selling, or just have questions, I’m here to help.
For a trusted expert who knows your neighbourhood, contact Tony Sousa today.
📧 tony@sousasells.ca | 📞 416-477-2620
Let’s make your real estate dreams a reality!
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