Toronto housing market just crossed a brutal milestone amid real estate collapse

To anyone at all involved in Toronto's housing market, the only stat more alarming than the unanticipated crash in home sales across the region over the past many months is the simultaneous influx of new listings, which now amount to the largest glut in memory.

Topping the points of 2024 when the city reached a high point of more than 20,000 houses and condos on the market, this year has kicked off with even worse news for realtors and homeowners.

As of this week, according to the latest MLS stats circulating on industry social media, there are now more than an astounding 32,000 active residential real estate listings in the GTA, not even counting never-lived-in units. This is the most in many years, perhaps ever, and has created the largest disparity the city has seen between supply and demand.

The 32,082 figure was shared to X by realtor and expert Robert Marsiglio on June 8, and reflects the numbers available to insiders as of June 2.

We haven't peaked yet.

Last week's drop off does not appear to be the start of a trend.

Welcome to the 32K club!#TORE pic.twitter.com/bo33cGdAyX

— Robert Marsiglio (@rob_siglio) June 9, 2025

In subsequent replies to the post, which has garnered more than 100 reactions, Marsiglio also shared a graph of available resale housing stock going back to 2018 to really put this latest data point into perspective.

He also clarified that 13,793 of the properties are condos.

As many will know, the condo segment has been performing the worst as of late, with fewer new condos in particular switching hands last year than any other year since the mid-1990s.

This is from @TheHabistat

Active listings across all property types on a monthly basis in the GTA going back to the start of 2018. pic.twitter.com/bV0sHeSdFb

— Robert Marsiglio (@rob_siglio) June 10, 2025

The latest publicly-available numbers from the Toronto Regional Real Estate Board (TRREB)'s May 2025 report show a brutal 25.1 per year-over-year cent decline in condo sales across the board, compared to a 13.3 per cent drop for all housing types (including condos).

The number of active listings soared by 41.5 per cent compared to the same time last year, with properties spending 44.4 per cent more time on the market.