Just in case you thought the Greater Toronto Area (GTA) new home sales market couldn't get any worse, well, things just got worse. A staggeringly low 300 homes were sold in the entire region of approximately 7 million residents during August 2025. To put these massive declines in perspective, a typical August over the past decade would have averaged out at just shy of 1,600 units sold. Single-family home sales, while still hit hard, seemed a bit more stable than their condo counterparts. A total of 182 single-family homes sold last month was just a 21 per cent decline year-over-year and 59 per cent below the ten-year average.