What is the Average Price of a House in Toronto

Navigating Toronto’s real estate market requires up-to-date information, especially regarding current house prices. Whether you’re considering buying or selling, understanding the average cost of a home in Toronto is crucial for making informed decisions. Let’s dive into the market right now.

Current Average House Prices in Toronto

As of February 2025, the average selling price for a home in Toronto was approximately $1,070,100, reflecting a 0.5 percent increase compared to the same period last year. Breaking it down by property types:

Single-Family Homes: The average price stood at $1,294,000, marking a 1.3 percent year-over-year increase.
Townhouses/Multiplexes: These properties averaged $796,400, experiencing a slight 0.2 percent decrease from the previous year.
Condominiums: The average price was $642,300, down 3.4 percent compared to February 2024.

Real Estate Market Trends Influencing Toronto Home Prices

when asking what is the average price of a house in Toronto, several factors are currently shaping Toronto’s housing market:

Sales Activity: In February 2025, the market saw 4,037 home sales, a significant 27.4 percent decline compared to the same month in 2024. This decrease in sales activity can influence pricing dynamics, potentially leading to more favourable conditions for buyers.
New Listings: The number of new listings increased by 5.4 percent year-over-year, totalling 12,066 in February. An increase in listings can provide buyers with more options and may contribute to stabilising prices.
Economic Factors: The Bank of Canada’s interest rate cuts have aimed to stimulate the economy, potentially impacting borrowing costs and buyer affordability. However, ongoing trade tensions and economic uncertainties may also play a role in consumer confidence and market dynamics.

Advice for Toronto Home Buyers and Sellers

For Buyers: With the current market experiencing a decline in sales and an increase in listings, buyers may find themselves in a more favourable position to negotiate. It’s essential to assess your financial situation, secure mortgage pre-approval, and work with a top Toronto real estate agent to navigate the market effectively.
For Sellers: Given the slight fluctuations in property values and increased competition from new listings, sellers should consider strategic pricing and enhancing their property’s appeal to attract potential buyers. Collaborating with an experienced realtor can provide insights into market trends and effective marketing strategies.