May Toronto Real Estate Market Stats: Interest Rates Down, Inventory Up, Up & Away…

Jun 12

April showers didn’t bloom May sales, but listings sprouted like dandelions.

While the weather dragged its heels, the GTA real estate market sprang into inventory overload. May 2025 saw a spike in active listings across every major region — but buyer energy is still in short supply. That combo means opportunity is rising… but so is hesitation.

Interest rates have eased. Inventory is climbing. Prices are holding steady or sliding in buyer-friendly ways. And yet, momentum remains elusive. Buyers are browsing, not bidding. Sellers are listing, not always selling. It feels like the pause button is still half-pressed on a market that should be moving faster.

Across the GTA, home sales dipped 13.3% year-over-year, while active listings surged 41.5%. The average home sold for $1,120,879, a 4% decline from May 2024. Condos, especially in the city, saw steeper price drops and more inventory than we’ve seen in years. All of this adds up to a quieter-than-usual May, with opportunity baked in for those who know how to spot it.

So what’s happening on the ground in each region? Let’s dig in.

📊 GTA-Wide Snapshot: Inventory Up, Confidence Down

There were 6,244 home sales in May, down 13.3% from this time last year. But active listings? Up 41.5% year-over-year — topping 30,000 homes for the first time in years. It’s giving buyers more room to breathe and more leverage at the negotiation table.

Prices are softening (but not plunging), and average time on market has crept up to 25 days, showing that urgency has left the building — for now.

Average Price: $1,120,879 ↓ 4.0%
Total Sales: 6,244 ↓ 13.3%
Active Listings: 30,964 ↑ 41.5%
Days on Market: 25 ↑ 17.4%
Months of Inventory: 4.96
Condo Average Price: $683,413 ↓ 6.5%
Condo Sales: 1,482 ↓ 23.7%

💡 Pro Tip: In a sea of listings, be the sold house. That means sharp pricing, standout marketing, and real strategy — not wishful thinking.

🏩 Toronto: Supply Surge Slows the Pace

Toronto’s market is still active, but the fuel behind it has changed. Inventory climbed almost 30% from last year, and homes are sitting longer. Condos were hit the hardest: down 7.5% in price, and sales dropped 25%.

Buyers are no longer rushing. With 5.06 months of inventory, there’s more time to weigh options — and more room to negotiate.

Average Price: $1,155,616 ↓ 3.2%
Total Sales: 2,315 ↓ 14.3%
Active Listings: 11,705 ↑ 29.6%
Days on Market: 28 ↑ 16.7%
Condo Average Price: $709,905 ↓ 7.5%
Condo Sales: 973 ↓ 25.0%
Months of Inventory: 5.06

What this means: More choice and less urgency make this an appealing time to buy in the city. Sellers should focus on sharp pricing and strong marketing.

Mississauga: Prices Down – Buyers Call the Shots

Mississauga is now a full-on buyer’s market. Inventory jumped more than 50%, while sales slipped 20%. Condos are taking the brunt of the correction, with prices falling nearly 10% compared to May 2024.

The overall average price in the city dropped to just over $1.03M, making Mississauga one of the more accessible GTA markets this spring.

Average Price: $1,030,431 ↓ 3.6%
Total Sales: 2,133 ↓ 20.0%
Active Listings: 2,800 ↑ 51.7%
Days on Market: 28 ↑ 21.7%
Condo Average Price: $584,398 ↓ 9.5%
Condo Sales: 136 ↓ 25.7%
Months of Inventory: 5.51

What this means: Buyers have the upper hand here, with ample choice and falling prices. Sellers must act fast and price right to stay competitive.

Oakville: Condos Are the Surprise Winner

Oakville’s luxury detached market is cooling, but its condo segment is heating up. Condo prices surged 9.6% year-over-year, and sales spiked 45% — a major outlier in a region dominated by declines.

Still, inventory is up over 60%, and homes are sitting longer across all price ranges.

Average Price: $1,462,508 ↓ 5.4%
Total Sales: 1,000 ↓ 14.9%
Active Listings: 1,415 ↑ 62.5%
Days on Market: 29 ↑ 26.1%
Condo Average Price: $833,817 ↑ 9.6%
Condo Sales: 58 ↑ 45.0%
Months of Inventory: 4.59

What this means: Investors and first-time buyers should keep an eye on Oakville condos. Detached sellers? Prepare for longer days and cautious buyers.

York Region: Oversupply Creates a Buyer’s Paradise

York Region has officially tipped into oversupply. Inventory is up nearly 50%, while sales dropped 25%, leading to the highest months of inventory in the GTA at 5.85.

Buyers have serious leverage. Sellers need to market aggressively or risk getting buried in the growing pile of listings.

Average Price: $1,245,822 ↓ 5.2%
Total Sales: 4,118 ↓ 25.4%
Active Listings: 5,880 ↑ 49.8%
Days on Market: 28 ↑ 21.7%
Condo Average Price: $643,890 ↓ 8.1%
Condo Sales: 167 ↓ 26.8%
Months of Inventory: 5.85

What this means: This is a value-rich market for buyers. Sellers need standout presentation, smart pricing, and patience.

Durham Region: Still the Tightest GTA Market (But Loosening)

Durham’s inventory is rising — up 48% — but it still has the lowest months of inventory in the GTA. Homes here are moving quicker than elsewhere, and average prices have barely budged.

The condo market is steady, and buyers are still showing up. But the clock is ticking before conditions shift more dramatically.

Average Price: $906,883 ↓ 2.9%
Total Sales: 3,340 ↓ 16.1%
Active Listings: 2,798 ↑ 48.4%
Days on Market: 20 ↑ 11.1%
Condo Average Price: $549,688 ↓ 3.4%
Condo Sales: 54 ↓ 1.8%
Months of Inventory: 3.29

What this means: Durham remains competitive, but balance is creeping in. Sellers still have an edge, but buyers are gaining ground.

Brampton: High Supply, Slipping Prices

Brampton’s real estate engine is stalling. Active listings surged nearly 58%, while sales declined by almost a quarter. Detached homes are feeling the pressure, but the condo market is surprisingly stable — even seeing a small uptick in sales.

Still, overall prices dropped 5.5%, and homes are taking longer to sell.

Average Price: $959,165 ↓ 5.5%
Total Sales: 1,776 ↓ 23.9%
Active Listings: 2,528 ↑ 57.7%
Days on Market: 27 ↑ 28.6%
Condo Average Price: $491,567 ↓ 7.6%
Condo Sales: 30 ↑ 3.4%
Months of Inventory: 5.57

What this means: Expect more negotiating power as a buyer. Sellers need to temper expectations — this isn’t the market for testing high price points.

What This Means for Buyers and Sellers?

May’s numbers confirm what many of us in the trenches have been feeling: this isn’t a hot spring market — it’s a waiting game. Inventory is up, sales are down, and both buyers and sellers are trying to figure out what comes next. Spoiler alert: the ones with a plan will win.

📉 For buyers: The window of opportunity is wide open. You’ve got more listings to choose from, less competition, and real negotiating power — especially in the condo and outer suburb markets. Prices are down in most areas, and days on market are stretching. If you're looking to upgrade, get into the market, or invest, this is a rare moment to do it without the pressure cooker energy of the past few years.

📈 For sellers: Gone are the days of listing high and waiting for multiple offers to roll in. Today’s buyers are slower, pickier, and armed with options. If you're serious about selling, your pricing, prep, and marketing strategy need to be dialed in. Homes that are priced right and professionally presented are still selling — but you’ll need to bring your A-game. In a sea of listings, be the sold house.

📲 Curious how to make the most of this market? Let’s talk about what the numbers mean for your neighbourhood, your property, and your next move. Whether you're buying, selling, or just planning ahead — I've got you.

📩 vanessa@vanessacopeland.com
📞 Call or text anytime — I’ll bring stats and solutions.