Canada Housing Market June 2025: Toronto to Oakville Trends

Canada's housing market in June 2025 shows signs of cautious recovery. Sales and prices are stabilizing, particularly in the GTA, with an increase in listings and a return of buyers. Lower borrowing costs and balanced conditions are creating new opportunities in Canadian real estate. From Toronto to Oakville and Mississauga, homes for sale are moving—but strategy matters. This report breaks down what's shifting and where the market may be headed next.

What's Happening in the Canadian Housing Market this Summer?

Canada's housing market in mid-2025 is showing signs of stability after a period of cool activity. National home sales have increased, and the prolonged decline in prices has primarily come to a halt. The composite MLS Home Price Index only fell 0.2% in May, indicating that average prices remained roughly flat from April. This trend reflects a Canadian real estate market where buyer interest is returning, but abundant inventory is tempering price growth. New listings are rising – CREA counted about 201,880 homes for sale in May (13% more than last year) – bringing national supply back toward its long-term norm.

In short, the number of homes for sale is moderating competition: sellers face more careful buyers, and aggressive price cuts have eased. As a result, "supply trends remain sturdy," inventories near a six-year high – a dynamic that has slowed year-over-year declines across most regions.

Ontario & the GTA: Toronto Housing Market in Focus

Ontario's housing picture is mixed, with Toronto and the surrounding GTA acting as a microcosm. The Toronto housing market is quietly firming – RBC Economics notes the GTA's composite price index ticked up (+0.1%) in May, its first monthly gain in six months. CREA concurs that the May sales rebound was "led by the Greater Toronto Area", underscoring renewed buyer interest in this region. According to local board data, Toronto's average sale price recently rose to approximately $1.155 million (up about 2.4% from April), and roughly 7,900 transactions closed (about a 5.2% Month-over-Month Increase). Most of that activity has been in lower-density homes – detached houses and townhouses are moving fastest, especially in family-friendly districts like East York and North York.

That said, broader affordability issues linger. Desjardins Economics points out that despite these gains, Toronto (and Vancouver) remain "deep in buyer's market territory," meaning supply still exceeds demand enough to keep upward pressure on prices low. Mortgage rates have eased (the Bank of Canada held its policy rate at 2.75% in June, and analysts expect further cuts), which is helping buyers. First-time purchasers and move-up buyers are cautiously returning, drawn by better financing terms.

Oakville: Suburban Upscale Market

Just outside Toronto, Oakville real estate market is stronger than many of its peers. Oakville continues to attract upscale buyers due to its excellent schools and a range of lifestyle amenities.

Meanwhile, smaller units are softer: Oakville's townhouse prices slipped even as their sales per listing surged to balanced levels, and condominium apartments saw slight price dips.

Mississauga: Balanced Growth

Mississauga, part of the GTA's westward expansion, displays a more balanced market. The average house in Mississauga fetched about $1.02 million in recent data (roughly +1.6% MoM), and sales are up modestly. Overall, Mississauga's growth price is described as "remaining a balanced market". Notably, semis and condos are driving much of the activity – listings in hot areas, such as Erin Mills, Port Credit, and the City Centre, are moving steadily. Detached sales have picked up 13% month-over-month, while condo apartments remain in a buyers' market with lower prices.

Inventory is rising here too, and semi-detached projects and new condo developments have added choice. First-time buyers are active in Mississauga thanks to better financing and co-buying arrangements. Overall, buyers searching for property for sale in Mississauga can expect a fair market: pricing is creeping up, but options are available, especially in the multi-family sectors.

Supply, Demand, and Buyer Behavior

Across Canada, a key theme is ample supply. CREA notes that new listings climbed ~3% in May, and the national sales-to-new listings ratio stayed around 47% – squarely in "balanced market" territory. This means that for the first time in months, neither buyers nor sellers have a dominating advantage nationwide. House hunters will find more homes for sale than they did a year ago – indeed, national inventory is about 5% below the long-term average, but still elevated. Policymakers are also pushing for more supply: for example, a federal GST rebate on new-build homes took effect in late May, which could draw more buyers to pre-construction projects.

Builders have responded: housing starts remain robust (around 280,000 annualized in May), led mainly by multi-unit condos and townhomes. Practically, this means a growing pipeline of new homes for sale.

With more "For Sale" signs dotting neighborhoods, market conditions remain dynamic. Investors and regular buyers alike will find opportunities: balanced conditions mean less frantic bidding wars, but attractive properties in desirable areas still command attention. The mix of resale and newly built homes for sale offers a range of choices – from suburban family homes in Oakville to condos in Toronto's core or Mississauga.

Looking Ahead: Market Predictions

Most forecasts see 2025 as a year of gradual recovery rather than a boom. CREA has raised its 2025 outlook, projecting a nearly 9% rise in national sales and roughly 5% higher average prices compared to 2024. Much of the gains are expected outside the overheated coastal markets. CREA notes that Ontario and B.C. may see larger sales rebounds (since their sales were so low) but more modest price increases. In contrast, provinces like Alberta and Saskatchewan could experience the opposite. RBC economists similarly expect prices to climb "gradually overall" as supply-demand imbalances ease.

For the Greater Toronto Area, the outlook is cautiously optimistic. Affordability is a constraint, so we expect only modest price gains (perhaps low single-digit increases by year's end).

FAQs

Q1: Is the Canadian housing market still cooling in June 2025?

Not anymore. The market is stabilizing, with prices remaining steady and buyer activity increasing in many regions.

Q2: Are homes selling faster now?

In high-demand areas like the GTA, well-priced homes are moving quicker—often within a few weeks—especially detached houses.

Q3: Is it a good time to buy in Mississauga or Oakville?

Yes, if you're prepared. Inventory is healthy, and with mortgage rates easing, buyers are regaining some negotiating power.