GTA Home Sales Drop in February as Buyers Hold Back, Waiting for Prices to Stabilize

Home sales in the Greater Toronto Area (GTA) declined in February as fewer buyers entered the market and the number of new listings also dropped, according to the Toronto Regional Real Estate Board (TRREB). Industry observers say many prospective buyers appear to be waiting to see if home prices will fall further before making purchasing decisions.

Data released by TRREB shows that 3,868 homes were sold across the GTA in February, representing a 6.3 per cent decrease compared to the same month last year. On a seasonally adjusted basis, sales were also slightly lower than in January, declining by about one per cent.

Housing prices also showed signs of softening. The average home price fell to $1,008,968, which is 7.1 per cent lower than in February 2025. Meanwhile, the composite benchmark price which reflects the value of a typical home in the market dropped 7.9 per cent year over year.

TRREB President Daniel Steinfeld said the current slowdown could change in the coming months depending on the number of homes listed for sale. If the supply of new listings continues to decrease through the spring, buyers could face more competition, which may push prices higher and encourage more transactions.

The report also highlighted a notable decline in new listings. In February, 10,705 properties were newly listed on the market, marking a 17.7 per cent drop compared with the same period last year.

At the same time, the total number of homes available for sale also edged lower. Active listings across the GTA stood at 19,414, representing a 2.4 per cent decline in overall inventory.

Market analysts say the GTA housing market may remain cautious in the near term, as buyers continue to watch price trends and economic conditions before committing to purchases. However, if the number of homes available for sale continues to tighten, the market could become more competitive as the busy spring real estate season approaches.