Monthly Market Updates | TorontoLivings

Jul 03

Toronto Real Estate Market Update: June 2026

By Mark Savel Monthly Market Updates

Toronto spent June with its eyes on BMO Field. Between Canada’s historic World Cup opener and five more matches at the stadium, it was hard to find a conversation that didn’t start with soccer. Turns out the real estate market had a pretty good month too… it just didn’t have to fight as hard for headlines.

We reported 6,770 home sales in June — up 9.4% from June 2025, and the third straight month of year-over-year gains. New listings, meanwhile, kept shrinking, down 12.9% compared to last year. Fewer new options, more buyers competing for them: that’s been the story since spring, and June just kept writing it.

The Headline Numbers

Here’s how the year has unfolded so far:

Month	Sales	New Listings	Active Listings	Avg. Price
January	3,082	10,774	17,975	$973,289
February	3,868	10,705	19,314	$1,008,968
March	5,039	14,442	21,596	$1,017,796
April	5,946	17,097	25,110	$1,051,969
May	6,583	17,698	26,927	$1,069,700
June	6,770	17,282	27,329	$1,058,658

Sales rose 2.8% over May, while new listings actually pulled back 2.3% month-over-month — the first monthly dip in new supply we’ve seen all spring. Active listings kept climbing, but only modestly (up 1.5%), which tells us absorption is finally starting to catch up with inventory.

Prices: The Decline Is Shrinking

The average selling price landed at $1,058,658 in June — still down 3.9% year-over-year, but that annual decline has been narrowing for a few months now. The broader MLS HPI Composite benchmark, which strips out the mix of what happened to sell, was down a steeper 5.4% year-over-year.

Month-over-month, the average price actually dipped slightly (-1.0%) — but on a seasonally adjusted basis, TRREB notes both the average price and the HPI Composite ticked up compared to May. Translation: the raw number moved one way, the underlying trend moved the other. That’s worth sitting with if you’re watching for a bottom.

How Each Home Type Performed

In the City of Toronto, 2,443 homes sold in June — up 6.1% from 2,303 a year ago — at an average price of $1,081,375, down 4.7% from June 2025. New listings fell sharply, down 13.6% year-over-year to 6,096.

Here’s how that broke down by home type within the 416:

Home Type	June Sales (416)	Avg. Price (416)	Sales vs. June 2025
Detached	792	$1,648,440	+0.4%
Semi-Detached	270	$1,264,782	-3.2%
Townhouse	237	$973,232	-0.4%
Condo Apartment	1,124	$665,760	+14.3%

Condos were the standout, with sales up over 14% year-over-year — a notable shift for a segment that’s been the city’s slowest mover for the better part of two years, even as condo prices kept easing (down 9.0% from last June). Detached sales held roughly flat, while semis and townhouses saw modest pullbacks in transaction volume.

The World Cup Effect: A Pause Near the Pitch

June wasn’t just a real estate story, it was a soccer one. Toronto hosted five FIFA World Cup 2026 group-stage matches at BMO Field (rebranded Toronto Stadium for the tournament), starting with Canada’s historic home opener on June 12, plus a Fan Festival running at Fort York and The Bentway through mid-July.

If you were house-hunting near Exhibition Place this month, you probably noticed. Road closures, transit crowding, and a steady wave of visiting fans made for a less-than-ideal showing schedule, and we saw it in the data — buyer activity around Fort York and Liberty Village noticeably cooled while the tournament was in town. Sellers in those pockets who’d normally expect brisk June traffic instead found a quieter month, with some showings pushed into July.

Is this a lasting shift or a temporary blip? Almost certainly the latter. Once the tournament wraps and the neighbourhood gets its sidewalks back, we’d expect pent-up interest in Fort York and Liberty Village to resurface — worth watching for anyone with a listing (or a search) in that pocket of the city.

Rates Hold Steady — What the BoC’s June Decision Means for Buyers

The Bank of Canada held its overnight rate at 2.25% on June 10 — its fifth consecutive hold. Governing Council pointed to a still-uncertain global backdrop, including energy-price volatility tied to the conflict in the Middle East, alongside a domestic economy that remains soft.

For anyone financing a purchase, that means continuity rather than surprise: no fresh relief on borrowing costs this month, but no tightening either. It’s a familiar pattern to anyone who’s followed our past coverage of rate-driven market swings — steady rates tend to bring steady (if unspectacular) buyer confidence, rather than the surges or pullbacks a sudden move can trigger.

Year-to-Date Snapshot

Through the first half of 2026, GTA sales sit at 31,149 — up modestly from 30,844 over the same stretch in 2025. New listings tell a bigger story: down to 88,065 from 103,288. That’s a meaningfully tighter market than this time last year, even with prices still negative on a year-over-year basis (average price down 5.3% YTD).

My Take

TRREB called 2026 a “year of two halves,” and June looks like the moment that prediction started paying off. Sales have now climbed year-over-year for three straight months, new listings are pulling back, and the rate of price decline keeps shrinking rather than growing. None of that is a boom — but it’s a market that’s clearly tightening, World Cup traffic jams aside.

If borrowing costs hold through the second half of the year as the Bank of Canada suggests they might, we could see prices stop falling and start leveling off before year-end. For buyers, that argues for moving sooner rather than later. For sellers who’ve been waiting for “the right time,” the data suggests it might be arriving.

Curious what this means for your specific neighbourhood or situation? I’m always happy to chat — reach out anytime, or sign up for monthly market updates straight to your inbox.

Jun 01

Love0

Toronto Real Estate Market Update: May 2026

By Mark Savel Monthly Market Updates

Spring has brought some welcome momentum back to the Toronto Real Estate market, and after a slow start to the year, I’m seeing that show up clearly in the May numbers. Sales are accelerating, inventory is tightening relative to demand, and prices look like they’re starting to find a floor. Here’s my read on what happened this month and what it could mean if you’re thinking about buying or selling this summer.

The Headline Numbers

6,583 homes sold across the GTA in May — up 6.3% from the 6,195 we saw in May 2025. New listings, meanwhile, fell to 17,698, down 18.9% year-over-year. More buyers, fewer new options: that combination is really the whole story of this spring.

It’s also month three of a trend. Sales rose year-over-year in March, April, and May, after dipping in January and February.

Month	Sales	New Listings	Active Listings	Avg. Price
January	3,082	10,774	17,975	$973,289
February	3,868	10,705	19,314	$1,008,968
March	5,039	14,442	21,596	$1,017,796
April	5,946	17,097	25,110	$1,051,969
May	6,583	17,698	26,927	$1,069,700

Seasonally adjusted, sales were up 10% over April, while new listings dipped 2.1%!

Prices: Down Year-Over-Year, But Leveling Off

The average selling price hit $1,069,700 in May which was 4.6% below last year. The broader MLS HPI Composite benchmark, which smooths out the mix of what’s actually selling, was down a steeper 6.7% year-over-year.

Here’s the more interesting part, though: on a seasonally adjusted basis, prices actually ticked up slightly month-over-month, and the pace of the year-over-year decline has been easing for a while now. If sales keep strengthening the way they have been, it could indicate we’re closer to a floor than a further slide.

Worth a caveat here: the Bank of Canada held its policy rate at 2.25% for a fifth straight meeting in June, citing elevated oil prices and ongoing trade uncertainty. And fixed mortgage rates have actually crept up recently as bond yields responded to the same geopolitical noise. So while May’s affordability story leaned partly on borrowing costs, that tailwind may be less reliable heading into summer than it looked a month ago.

How the City of Toronto Performed by Home Type

Zooming into the 416 specifically, detached homes led the charge:

Home Type	Sales (416, May 2026)	Avg. Price (416, May 2026)	YoY Sales	YoY Price
Detached	846	$1,610,988	+8.9%	-6.5%
Semi-Detached	283	$1,293,268	+2.5%	+0.6%
Townhouse	222	$953,982	-17.5%	-5.5%
Condo Apartment	1,009	$673,841	+4.2%	-5.0%

Detached and semi-detached sales grew nicely, while townhouses pulled back… but keep in mind, this is a smaller, more volatile segment where a handful of deals can swing the percentage. Condos, the city’s most crowded category, kept selling in decent volume even as prices softened. Not exactly a comeback tour for condo pricing, but the sales activity suggests demand may be coming back (but slooooowly)

Buyers Still Have Room to Negotiate — For Now

Average days on market landed at 42 in May, down from a January high of 67. That said, homes are still taking a few days longer to sell than they did in May 2025 — which tells me buyers heading into early summer still hold some leverage. Whether that window stays open through July and August is the real question to watch.

Year-to-Date Snapshot

Through the first five months of 2026, GTA sales sit at 24,405 — essentially flat against 24,653 over the same stretch last year. New listings are the bigger story: down to 70,768 from 83,441. Fewer new homes hitting the market, roughly steady demand, that’s the recipe behind the tightening we’ve been tracking all spring.

My Take

I think May reflects real, if fragile, improvement. Buyers came back, listings didn’t keep pace, and prices are behaving like a market finding its footing rather than one still falling. Ontario’s Bill 98 received Royal Assent in early June, aiming to speed up housing approvals and lower development costs province-wide — a trend to watch for anyone thinking about the next few years of supply, not just this summer’s showings.

Will the second half of the year keep this pace up? That depends a lot on interest rates, oil prices, and whether the “affordability improving” story can hold up if borrowing costs tick the wrong way. For now, though, the numbers are a promising sign after a rough start to the year.

Curious what this means for your specific neighbourhood or situation? I’m always happy to chat — reach out anytime, or sign up for monthly market updates straight to your inbox.

May 03

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April 2026 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

Spring showed up right on schedule this year… and so, it turns out, did buyers!

According to TRREB’s April 2026 market report, realtors reported 5,946 home sales through the MLS System in April, up seven per cent compared to a year earlier. New listings, meanwhile, pulled back 9.3 per cent over the same stretch to 17,097. Put those two numbers side by side and the takeaway is clear: the market’s quietly tightening, even as prices continue to soften. Not the fireworks some were expecting this spring — but a trend worth paying attention to all the same.

A Quick Scorecard: April 2026 by the Numbers

Here’s the top-line read from our ongoing market update series:

Sales: 5,946 (+7% year-over-year)
New listings: 17,097 (‑9.3% year-over-year)
Average price: $1,051,969 (‑4.9% year-over-year)
MLS® HPI Composite: ‑6.6% year-over-year, but flat month-over-month

That last point matters. Prices are still down compared to a year ago, but they’ve stopped sliding on a monthly basis — which could indicate the market is finding its footing.

Tighter Conditions, Softer Prices

Active listings climbed to 25,110 in April, up over 16 per cent from March, and the average property took 43 days to sell — down from 47 the month before. So even with more homes to choose from, they’re moving a little faster. That’s the kind of push-pull that defines a market in transition: buyers still have plenty of choice, but the days of endless negotiating room might be numbered.

It’s a different picture than what we saw last fall, when the market was just beginning to stir. This spring, the stirring has turned into something closer to a steady walk.

The Rate Backdrop: Why the Bank of Canada Is Staying Put

Interest rates are, as always, part of this story. The Bank of Canada held its policy rate steady at 2.25 per cent at its April 29 announcement — the third hold of the year — as it weighs geopolitical uncertainty and rising energy prices against an otherwise steady economic picture. Inflation has been ticking up on gas prices specifically, and the Bank has signalled it’s watching closely rather than committing to a clear direction.

For anyone with a fixed-rate mortgage, remember that pricing tracks the bond market more than the BoC’s overnight rate — so “hold” doesn’t always mean “no change” on renewal. Compare that to the surge we tracked after 2024’s rate cuts, and it’s clear how sensitive this market remains to borrowing costs.

Segment Snapshot: Condos Lead, Detached Holds Steady

Not every segment moved the same way. Condo apartment sales in the City of Toronto jumped 14.4 per cent year-over-year — the strongest gain of any housing type — while detached sales rose a healthy 9.2 per cent across the GTA. It’s a notable shift for a condo market that’s had its share of headwinds over the past couple of years, and it’s a trend worth watching as spring rolls on.

What This Means If You’re Buying or Selling Right Now

For buyers: With active listings up sharply and rates on hold, you’re still working with some negotiating power — but that window may be narrowing as sales activity picks up. If you’ve been waiting on the sidelines, this could be the moment to start exploring your options.

For sellers: Pricing realistically is more important than ever with over 25,000 active listings competing for buyer attention. Homes that are priced to the current market — not last year’s market — are the ones moving in 43 days instead of sitting. If you’re weighing a listing this season, let’s talk about your strategy.

Looking Ahead

The Bank of Canada’s next rate decision lands June 10, and TRREB continues to push its “Removing Roadblocks” policy report aimed at cutting red tape on new housing supply. Will easing municipal barriers translate into more homes — and more affordability — by summer? That’s the question worth keeping an eye on.

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Apr 03

Love0

Toronto Real Estate Market Update: March 2026

By Mark Savel Monthly Market Updates

Toronto buyers didn’t need a calendar to know winter had overstayed its welcome. Between the snow, the slush, and two straight months of staying indoors, January and February were quiet for reasons that had nothing to do with mortgage rates or listing prices. Then March showed up — and so did the buyers.

The Headline: Sales Finally Turn a Corner

The Toronto Real Estate Board reported 5,039 home sales in March 2026, up 1.7% year-over-year — the first annual increase the region had seen since last September. Sales also climbed 30% month-over-month from February, which is a bigger jump than typical seasonality alone would explain. Clear roads and longer daylight hours don’t show up in a market report, but they clearly showed up in showing schedules.

TRREB President Daniel Steinfeld called it “encouraging,” noting that more GTA households appear ready to take advantage of improved affordability as the spring market gets underway. For a market that’s spent over a year in buyer’s-market territory, that’s a notable shift in tone.

What the Numbers Actually Show

Here’s March 2026 at a glance:

Sales: 5,039 (+1.7% YoY, +30.3% MoM)
New listings: 14,442 (-16.7% YoY, +34.9% MoM)
Active listings: 21,596 (-8% YoY, +11.8% MoM)
Average price: $1,017,796 (-6.7% YoY)
MLS® HPI Composite: down 7.4% YoY
Average days on market: 47

New listings are down sharply from last year, but sales grew faster than listings on a seasonally adjusted basis — a sign, per TRREB, that conditions are tightening even with prices still soft. In the City of Toronto specifically, 1,913 sales closed the month, up a modest 0.9% year-over-year.

That’s worth sitting with for a second: sales are up, prices are still down. As confusing as that may sound, it’s exactly what a market looks like when buyers still have the upper hand on negotiating, and are starting to use it.

Detached, Semis, Townhomes & Condos — Who’s Moving

Not every property type moved at the same pace:

Home Type	March 2026 Sales	Average Price
Detached	574	$1,613,066
Semi-Detached	170	$1,231,967
Townhouse	207	$959,513
Condo Apartment	951	$648,287

Condos remained the highest-volume segment by sales count, but they’re also where price softness has been most persistent (a pattern that’s held for much of the past year). Detached homes, by contrast, continue to command a premium and have held their value more consistently. If you’ve been eyeing the condo market, this could be one of those “trend to watch” moments worth keeping an eye on through the spring.

Why Buyers Still Hold the Cards

Two things kept affordability front and centre in March. First, the Bank of Canada held its policy rate at 2.25% on March 18 — its second hold of the year — with inflation easing to 1.8% and the labour market still soft. That stability (for now) means borrowing costs aren’t adding new pressure on top of already-cautious buyers.

Second, buyers simply have more room to negotiate than they’ve had in years. TRREB’s Jason Mercer put it plainly: buyers continued to benefit from “substantial negotiating power” on price, which is exactly why average and benchmark prices are still down year-over-year even as sales pick up. If you’re a first-time buyer trying to figure out how far your down payment can stretch, tools like the FHSA are worth another look in this kind of market.

What’s Next — Spring Outlook

Not every forecast is popping champagne just yet. TD Economics recently trimmed its 2026 outlook, now expecting sales to dip slightly and prices to ease modestly nationally — a notable pullback from its earlier call for solid gains in both sales and price. That’s a fair reminder that one good month doesn’t undo a year of caution.

That said, March gave us something worth watching: sales growing faster than listings, buyers stepping off the sidelines, and the first real signs of seasonal momentum. If that trend holds through April and May, this could be the point where selling prices start to level off rather than keep sliding. Will it stick? Toronto’s spring market has surprised us before.

For the full monthly breakdown as it happens, head over to our market update hub or sign up for our monthly market updates so you’re never caught off guard.

Mar 03

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Toronto Real Estate Market Update: February 2026

By Mark Savel Monthly Market Updates

According to the calendar, spring is still weeks away. According to February’s numbers, Toronto’s housing market was already clearing its throat. Sales dipped, new listings dipped even faster, and buyers kept doing what they’ve done for months now… watching, waiting, running the numbers one more time.

But here’s the twist: not every corner of the 416 sat still. Detached and townhouse sales actually grew year-over-year, even as prices cooled. So was February a slow month, or a quiet setup for something bigger this spring? Let’s take a look!

The Numbers at a Glance

In the 416, February 2026 looked like this compared to February 2025:

Sales: 1,491, down from 1,575 — a dip of about 5.3%
New listings: 4,035, down from 4,991 — a decline of roughly 19.2%
Average price: $1,019,144, down from $1,089,187 — off by about 6.4%
MLS HPI Composite (City of Toronto): down 8.08% year-over-year, according to TRREB’s February 2026 Market Watch report

A Sales Split: Where the City Held Steady

Here’s where it gets interesting. Not every segment of the 416 told the same story last month:

Detached homes: 437 sales, actually up 3.6% year-over-year, though average price eased to $1,568,543 (down 11.4%)
Semi-detached: 150 sales, down 3.8%, while average price ticked up 4.6% to $1,229,853
Townhouses: 153 sales, up 2.7%, with average price down 4.6% to $980,175
Condo apartments: 733 sales, down 12.3% — the softest segment by far — with average price down 8.1% to $663,984

So while the condo market continues to face the most pressure on both price and demand, detached and townhouse sales actually grew year-over-year. That’s worth sitting with for a second: even in a “down” month, two of four housing types saw more buyers close deals than they did a year ago.

Why Prices and Listings Cooled

The short version? Buyers are waiting for clarity. TRREB Chief Information Officer Jason Mercer put it plainly in the board’s February release, noting that more than 100,000 GTA buyers are holding off on a purchase while they wait for prices to level off and for “positive news on the trade front” (TRREB Market Watch).

That hesitation lines up with the broader economic backdrop. The Bank of Canada opened 2026 by holding its policy rate steady at 2.25%, continuing a pause that began in December, as it weighed ongoing uncertainty around U.S. trade policy (Canadian Mortgage Professional). Steady rates are one less variable for buyers to worry about — but “steady” isn’t quite the same as “confidence-inspiring,” and that shows up in February’s listing numbers.

The Month-Over-Month Bounce

Here’s the part that didn’t make many headlines: on a month-over-month basis, every single housing type in the 416 saw sales and prices climb from January to February.

Detached sales rose about 51% month-over-month, with average price up 1.7%
Semi-detached sales rose about 56%, with average price up 7.3%
Townhouse sales rose about 35%, with average price up nearly 12%
Condo sales rose about 29%, with average price up 5.1%

Some of that is simply seasonal — January is typically the slowest month of the year. But a broad-based lift like this, across every category, is a trend to watch heading into the spring market.

Year-to-Date: Where 2026 Stands

Looking at the City of Toronto’s first two months combined, 2026 is trailing 2025:

Sales: 2,562 vs. 2,948 (down 13.1%)
New listings: 8,115 vs. 9,732 (down 16.6%)
Average price: $989,346 vs. $1,041,180 (down 5.0%)

That said, TRREB’s own outlook — echoed in coverage from Storeys — points to tightening supply as a setup for stronger activity in the second half of the year, as reduced competition from new listings could eventually support both sales and pricing.

What This Means If You’re Buying or Selling

For buyers, this is still a market with real negotiating room, particularly in the condo segment where both price and competition remain soft. For sellers of detached and townhouse properties, February’s sales growth is a signal that qualified buyers are out there — even if fewer of your neighbours are listing alongside you.

Either way, timing matters more than headlines. If you’re weighing a move this spring, it’s worth getting a read on your specific pocket of the 416 before making a decision. Check out our Toronto real estate market update hub for ongoing coverage, or find out what your home is worth in today’s market. Want this kind of breakdown in your inbox every month? Sign up for our market updates and stay ahead of the curve.

Feb 04

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January 2026 Real Estate Market Update

By Mark Savel Monthly Market Updates

A Cold and Cautious Start to 2026

January is always a difficult month to read too much into — and January 2026 came with a few extra asterisks. In addition to the usual post‑holiday slowdown, Toronto experienced two significant snowfalls and extended stretches of freezing temperatures which resulted in fewer showings and delayed listings.

With that in mind, January should be viewed less as a verdict on the year ahead and more as an early signal of how buyers and sellers are behaving under current conditions.

The January 2026 Snapshot

Sales across the Toronto market totalled 3,082 transactions in January, reflecting a year‑over‑year decline. New listings came in at 10,774, also down compared to last January, while active listings remained elevated at 17,975.

The average selling price finished the month at $973,289, down year‑over‑year (the time we saw a monthly average this low was November 2023 – cue the headlines), while average days on market stretched to 67 days — a noticeable increase that reinforces the slower pace of decision‑making across the market.

Sales & Inventory: Supply Still Setting the Pace

Sales softened again in January, but seasonality, affordability pressures, and weather all played a role. What’s more telling is that inventory remains relatively high for this time of year, keeping buyers firmly in control of timing and negotiations.

The increase in average days on market reinforces that point. Homes are taking longer to sell not because buyers aren’t looking, but because they’re willing to wait — and often pass — unless pricing and presentation align.

For buyers, this environment continues to offer leverage. For sellers, the margin for error on pricing is thinner than it’s been in years!

Market Breakdown by Property Type

Detached Homes

Detached homes recorded 290 sales in January, with an average selling price of $1,541,791. While sales volumes were softer compared to last January, pricing proved more resilient than in other segments. End‑users continue to dominate this category, particularly in established neighbourhoods where long‑term value remains the priority.

Buyers are taking their time and negotiating harder, especially on homes that need work. Sellers who priced realistically and prepared their homes well were still able to transact, while aspirational pricing struggled to gain traction — and in some cases, attracted no showings at all.

Semi‑Detached Homes

Semi‑detached homes saw 96 sales in January, with an average selling price of $1,146,188. This segment remained one of the more stable areas of the market, supported by move‑up buyers and families seeking freehold ownership without detached‑home pricing.

That said, stability does not mean immunity. Buyers are still value‑driven, and pricing accuracy matters. Well‑located semis continue to perform best, while over‑priced listings face longer market times.

Townhouses

Townhouses posted 113 sales in January, with an average selling price of $876,585. Sales were softer relative to both semis and detached homes, reflecting buyer hesitation and increased comparison shopping across property types.

For buyers, this has translated into increased choice and negotiating room. For sellers, positioning against both condos below and semis above is increasingly important.

Condo Apartments

Condo apartments accounted for the largest share of total sales in January, with 568 transactions, but they also told the clearest story of price adjustment. The average condo selling price declined to $624,886 — a level not seen since January 2021.

Investor hesitation, higher carrying costs, and financing conditions continue to weigh on this segment. At the same time, end‑users are finding more selection and leverage than they’ve had in years.

For buyers, this remains the most opportunity‑rich segment of the market. For sellers, patience or sharp pricing is required — rarely both.

Economic & Rate Backdrop

The Bank of Canada held its overnight rate steady in January, maintaining the current borrowing environment. However, several major banks are forecasting the possibility of rate increases later in 2026.

That expectation alone is influencing behaviour. Buyers are factoring future affordability into decisions today, while sellers are adjusting expectations based on what financing may look like later in the year.

Rates may not be moving — but expectations are.

What January Sets Up for the Months Ahead

January rarely sets the tone for the full year, but it does reveal behaviour. As weather improves and spring approaches, February and March will be far more telling.

Key indicators to watch include:

Whether sales volume begins to accelerate
How quickly new listings are absorbed
Whether condo inventory continues to build

A shift in any of these areas would signal a change in leverage.

Bottom Line

January 2026 delivered a market that rewards realism. Buyers have time and choice, but the best opportunities won’t last indefinitely. Sellers can still succeed — but strategy, pricing, and preparation matter more than optimism.

If you’re thinking about buying or selling in the year ahead, understanding how these conditions affect your specific property type and neighbourhood is key. We help clients make sense of the data, set realistic expectations, and move with confidence — whether that means acting quickly or waiting for the right moment.

If you’d like to talk through your plans for 2026, we’re always happy to help… send us a message below!

Jan 12

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December 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

A Quiet Finish to a High-Inventory Year

Big Picture

December 2025 closed the year the way many of us expected: slower, softer, and more selective. This wasn’t a sudden shift—it was the natural compression of a market that spent most of the year carrying elevated inventory and cautious buyer psychology. Sales pulled back sharply from the fall, new listings tapered off as sellers stepped aside for the holidays, and prices softened further on both a month-over-month and year-over-year basis.

What matters most here is context. December didn’t change the market’s direction—it confirmed it. Buyers continued to hold leverage thanks to choice and patience, while sellers who remained active were increasingly motivated by timing, finances, or life changes rather than optimism. In other words, the market didn’t freeze—it clarified.

Sales & Demand: Seasonally Quiet, Selectively Active

Sales in December declined to 3,697 transactions, down 26% from November, which is entirely consistent with year-end seasonality. More telling, however, is that sales were up just over 10% year-over-year, suggesting buyers didn’t disappear—they simply became more deliberate.

Detached, semi-detached, and townhouse segments all experienced sharp month-over-month slowdowns, while condo sales also pulled back after a relatively active fall. This reinforced a theme that played out throughout 2025: buyers will move forward when pricing aligns with perceived value, but they’re unwilling to chase—or compromise, especially in the slow months of the year.

Inventory & Supply: Relief, Not Resolution

Active listings fell to 17,005, down more than 30% from November, largely because new listings collapsed to just 5,299—a normal December retreat. That said, inventory levels remained over 10% higher than December 2024, underscoring that the market is still structurally well supplied despite the seasonal pause.

This distinction matters. Negotiating pressure didn’t reset—it simply went dormant. Buyers heading into early 2026 will still be comparing options, price reductions, and listing histories from late 2025. Sellers hoping for a clean slate in January may find that buyers remember December listings very clearly.

Pricing & Value: A Soft Landing, Continued Sensitivity

The average Toronto home price slipped to $1,006,735, down 3.1% month-over-month and 5.7% year-over-year. Every major property type felt pressure, with detached and semi-detached homes posting notable annual declines, and condos continuing to wrestle with affordability ceilings and investor hesitation.

A key divergence worth noting: detached homes continued to see price sensitivity tied to affordability and carrying costs, while condos faced a different challenge—buyer hesitation driven by fees, investor pullback, and an abundance of comparable options. In short, detached pricing softened due to demand constraints, while condo pricing remained capped by supply and sentiment.

Equally telling: average days on market climbed to 65, the highest level of the year. Buyers weren’t rushing—and sellers were often forced to adjust expectations mid-listing. Gaps between initial list prices and achieved sales remained wide, particularly where sellers anchored to early-2022 or early-2023 benchmarks.

Housing Segment Performance: What the Numbers Showed in December 2025

Detached Homes

Detached home sales pulled back sharply in December, consistent with seasonal norms, but the more important trend was pricing behaviour. Detached prices continued to trend lower on a year-over-year basis, reinforcing that affordability—not demand—is the limiting factor. Buyers remained active, but only at price points that reflected today’s borrowing costs, not past peaks.

The rise in days on market was especially noticeable in this segment, signalling that detached sellers faced the greatest gap between expectations and buyer willingness. Homes that corrected early still sold; those that didn’t often linger. The year-end data suggests detached pricing remains sensitive heading into early 2026 unless rates or sentiment shift meaningfully.

Semi-Detached Homes

Semi-detached homes followed the same directional trend as detached properties, though with slightly better liquidity. Sales slowed month-over-month in December, but not disproportionately, reflecting steady underlying demand for this middle-ground housing type. Year-over-year performance was more stable than detached, reinforcing that buyers still see semis as a relative value play.

Pricing softened modestly rather than sharply. December showed that buyers had very little tolerance for even slight overpricing—homes that launched realistically moved, while those that didn’t quickly blended into available inventory.

Townhouses

Townhouse sales cooled alongside the broader market, but this segment continued to benefit from functional end-user demand. Price movement was relatively flat compared to detached homes, though performance varied significantly by product type. Freehold townhomes held value better, while stacked and condo townhomes behaved much more like the condo segment.

Days on market increased slightly, but not alarmingly. The key trend here is separation rather than decline: townhouses with clear value propositions remained competitive, while those caught between pricing tiers faced longer exposure and heavier negotiation.

Condos

Condos remained the most challenged segment heading into year-end. Sales slowed in December, and elevated inventory continued to weigh on pricing momentum. Year-over-year price softness persisted, reflecting investor pullback and increased competition among listings.

While entry-level and end-user-friendly units still attracted interest, buyers showed little urgency. Rising days on market and frequent price adjustments confirmed that leverage firmly rests with buyers. December reinforced that condos are likely the last segment to see pricing stabilization unless supply meaningfully contracts.

What This Means for Buyers

December reinforced that patience remains a valid strategy. While selection may thin temporarily, motivated sellers still exist—and many are willing to negotiate meaningfully on price, terms, or closing flexibility. Buyers who understand value, rather than simply chasing discounts, are best positioned as we move into early 2026.

For buyers looking to understand neighbourhood-level pricing and opportunity, exploring recent Toronto market breakdowns can help frame where value is emerging.

What This Means for Sellers

If you sold in December, you likely did so because you priced with intent. If you didn’t, the message is clear: 2026 will continue to reward preparation, pricing discipline, and strategic timing. Waiting only makes sense if expectations are flexible—and your timing truly allows it.

Sellers considering an early-2026 launch should pay close attention to how inventory rebuilt throughout 2025, as those patterns are likely to repeat.

Short-Term Outlook

As we head into the first quarter of 2026, expect inventory to rebuild quickly, buyer engagement to return cautiously, and pricing conversations to remain grounded. Interest-rate sentiment may improve marginally, but psychology—not policy—will continue to shape negotiations.

Thinking About Selling in 2026?

If a move is on your horizon this year, the groundwork matters more than ever. Pricing strategy, timing, and presentation—not hope—are what separate homes that sell cleanly from those that linger. If you’d like to talk through how this market impacts your buying or selling plans, send us a message below!

Dec 10

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November 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

According to the calendar, we’re officially in “hot chocolate and thicker jackets” season… and according to November’s numbers, the Toronto real estate market has also settled into full fall mode.

November wasn’t dramatic or chaotic. Instead, it felt like a market catching its breath—slower pace, fewer listings, and more thoughtful buyers. But tucked inside the overall cool-down was a standout story: freehold homes between $1M and $1.5M were buzzing with real activity. Let’s break down what actually happened.

What Happened in the Toronto Market This November?

Sales Slipped—But It’s Not the Plot Twist You Might Expect

Toronto recorded 5,010 sales, an 18.38% drop from October. On the surface, that might look like a steep fall… but November is historically a slower month as buyers shift into “holiday mode” and sellers decide to wait out the year.

The interesting part? Even with fewer deals happening, conversations with buyers stayed lively. This wasn’t a demand problem—it was a “let’s be picky” moment.

New Listings Dropped Harder Than Sales

Only 11,134 new listings hit the market in November—a sharp 30.7% drop. That’s the real story of the month. Sellers stepped back in a big way, which meant that buyers who were actively shopping suddenly had fewer homes to choose from.

When new listings fall faster than sales, the market tightens. And that’s exactly why prices held steady.

Even Active Listings Declined More Than Usual

Active inventory fell to 24,549—nearly 12% lower month-over-month.

Buyers who remained committed in late fall described the experience as “I’m ready… but there’s nothing to see.” Anyone who has been through a November search knows the feeling.

Prices Held Steady (All Things Considered)

Average Price: $1,039,458 (Down just 1.4%)

You might expect a bigger price swing with slower sales, but Toronto homes proved resilient. Prices barely budged and stayed right in line with where they’ve been for most of the year.

Think of it as the market saying: “Relax, nothing dramatic happening here.”

Days on Market Hit Their Longest Stretch This Year

The ‘Days on Market” rose to 56 days, the slowest pace we’ve seen in 2025.

This doesn’t mean homes aren’t selling—it means buyers are taking their time, comparing options, and running the numbers twice. But again… this was not the case everywhere.

The Breakout Segment: Freehold Homes Between $1M and $1.5M

Here’s where things get fun.

Detached & Semis in This Range Moved Faster Than the Market

Despite the overall slowdown, this pocket of the market stayed lively. In the 416:

Detached homes saw 600 sales
Semis hit 209 sales

Not record-breaking, but the energy was noticeably stronger. Freeholds that were move-in ready, offered rental potential, or were located near transit didn’t sit long.

Why? Because this price band continues to hit that Toronto sweet spot: attainable for move-up buyers, attractive to investors, and competitive enough to avoid the bidding-war chaos of earlier years.

Condos and Townhouses: Softer Demand, Stable Pricing

Condos Took a Breath After October’s Spike

Condo sales dipped to 880 (a 17.9% decline). No surprise here—condo buyers tend to be more rate-sensitive, and many are waiting for early 2026 announcements before locking in.

Yet, the average condo price actually inched up to $701,259. That’s the stability story again.

Townhouses Were a Mixed Bag

Townhouses landed at an average price of $870,793, a modest 2.2% dip.

Still, they continue to appeal to buyers who want the space of a freehold but not the price tag of one. The townhouse segment is very much alive—it’s just quieting down with the rest of the market.

Big Picture Trends Shaping Toronto’s Market Right Now

Mortgage Rates Are Finally Helping

After the Bank of Canada’s gradual cuts, many 5-year fixed rates now sit in the mid-4% to low-5% range. Buyers aren’t sprinting back, but confidence is noticeably higher than in 2023–2024.

If you talk to anyone who started a pre-approval a year ago and renewed it recently, they’ll tell you the same thing: “This feels manageable again.”

Consumers Are More Hopeful—But Still Cautious

Renewals at higher rates are still holding some would-be sellers back, especially those locked into ultra-low pandemic mortgages.

But newcomers, families, and investors are fueling the activity we do see—especially where rental income or multi-unit potential exists.

Policy Shifts Are Playing a Quiet but Important Role

With Bill 60 improving LTB timelines and clarifying the N12 process, landlords and investors are planning ahead with more certainty.

Meanwhile, Toronto’s ongoing gentle-density permissions are quietly changing how buyers view freehold lots—especially those with laneway or basement suite potential.

What Buyers Should Take Away From November 2025

Where the Opportunities Are

Freeholds under $1.5M: competitive, but not overwhelming.
Condos: stable prices + motivated sellers = room to negotiate.

What’s Likely Coming Next

Expect December to stay quiet—it always does. The real moment to watch is early 2026, when the Bank of Canada sets the tone for the year.

If confidence rises, expect buyers to move from browsing to buying.

Thinking of Buying or Selling?

Whether you’re upsizing, downsizing, or investing, November’s data tells us the same thing: this is still a market with opportunities—just not the loud, dramatic kind.

When you’re ready to talk strategy, we’ve got your back!

Nov 06

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October 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

After a quieter summer and a cautious start to the fall market, October delivered the clearest sign yet that Toronto’s real estate landscape is stabilizing. Sales activity continued to improve, inventory eased from September’s surge, and prices held firm month-over-month. While the market is not roaring forward, October showed a meaningful shift in sentiment as buyers re-engaged and competition tightened slightly across several segments.

Below is a full breakdown of how the market performed and what it means for buyers and sellers heading into the final stretch of the year.

October at a Glance

Sales: Up 9.76% month-over-month
New Listings: Down 16.57% month-over-month
Active Listings: Down 5.40% month-over-month
Average GTA Price: Down 0.47% month-over-month
Average Days on Market: 50 days (down from 51 in September)

GTA Market Overview

October delivered a second consecutive month of sales growth, rising nearly 10% from September. Buyers who had previously stepped to the sidelines over the summer began returning, encouraged by improved affordability expectations, increased negotiation power, and a sense that prices may have reached a temporary floor after months of softening.

Inventory also pulled back in October. New listings dropped more than 16% month-over-month, and active listings declined just over 5%. While supply remains higher than last year, the month-over-month easing helped bring the market closer to balance. With fewer new listings coming online, sellers benefited from slightly less competition than they faced in September.

Prices remained stable, dipping less than half a percent. Considering the broader downward pressure over the past year, October’s minimal price movement suggests values may be flattening as the market finds an equilibrium between what sellers are willing to accept and what buyers are prepared to pay.

Key Takeaway: October showed improving buyer engagement and tightening inventory – two key ingredients for price stabilization.

Key Market Drivers in October

Improved Buyer Confidence
The fall market saw stronger engagement as buyers adjusted to borrowing costs and gained clarity around pricing. This confidence translated into increased sales activity across both freehold and condo segments.

Inventory Eased After a September Surge
September’s spike in listings created temporary pressure on prices. With fewer new listings in October, buyers had less choice, helping restore some balance.

Price Stability Encouraged Move-Ups and First-Timers
Stable pricing helped both move-up buyers and first-time purchasers make more confident decisions, especially in the condo and semi-detached segments.

GTA Market Performance: Month-Over-Month

Sales increased by 9.76% (+546 sales)
New listings declined by 16.57% (-3,191 listings)
Active listings dropped by 5.40% (-1,586 listings)
Average price decreased slightly by 0.47% (-$5,005)
Days on Market improved from 51 to 50 days

Key Takeaway: The combination of rising sales and falling listings is a positive directional shift for market balance.

GTA Market Performance: Year-Over-Year

Sales down 7.81% from October 2024
New listings up 4.83% from last year
Active listings up 13.59% from last year
Average price down 7.12% year-over-year (-$80,843)
Days on Market up 16.28% from last year (+7 days)

Key Takeaway: While the month-to-month narrative has improved, year-over-year comparisons continue to show a softer market with more choice and lower prices than last fall.

416 Market Breakdown by Property Type

Sales Activity (Month-Over-Month)

Detached: Up 10.67% (+72 sales)
Semi-Detached: Up 22.90% (+49 sales)
Townhouse: Up 13.64% (+30 sales)
Condo: Up 14.04% (+132 sales)

Sales growth was seen across all housing types, marking one of the broadest improvements this year. Semi-detached homes led the month, followed closely by the condo sector, which regained momentum after a slower summer.

Key Takeaway: Buyer interest strengthened across all segments, showing renewed confidence in the market.

Pricing Trends (Month-Over-Month)

Detached: Down 3.97% (-$66,966)
Semi-Detached: Up 3.18% (+$37,582)
Townhouse: Down 4.19% (-$38,919)
Condo: Up 2.66% (+$18,126)

Freehold properties saw mixed performance. Detached and townhouse values experienced modest declines, while semis posted the strongest price gains of the month. Condos also saw average prices rise, supported by an uptick in demand and more motivated fall buyers.

Key Takeaway: Semi-detached homes stood out as the strongest performer, while condos continue to offer value-driven opportunities for buyers.

What This Means for Buyers

With inventory easing and sales strengthening, buyers considering a purchase in the next three to six months may want to take advantage of current conditions. Prices have shown signs of stabilizing, and as competition picks up, the negotiation leverage seen through the summer could begin to narrow.

Key Takeaway: Buyers still hold advantages, but conditions are shifting. Acting before inventory tightens further could be beneficial.

What This Means for Sellers

October offered sellers a more encouraging landscape than earlier in the fall. With fewer new listings entering the market, properly priced homes saw more consistent showings and engagement. Attractive, well-prepared properties continue to see the strongest results.

Key Takeaway: Sellers who position their home strategically and price with the current market will find more motivated buyers than in recent months.

Our Take

October marked an important turning point for Toronto real estate. While we’re not seeing dramatic price growth or frenzied bidding wars, the combination of stronger sales and softer listing numbers suggests the market is working toward balance. Confidence has improved, and both freehold and condo buyers are moving more decisively than they did over the summer.

Heading into the final months of the year, the market appears more stable and predictable than it has been for most of 2025. For both buyers and sellers, clarity is returning, and informed strategies are key. As always, reach out any time if you’d like to learn more!

Oct 16

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September 2025 Toronto Real Estate Market Update

By Mark Savel Monthly Market Updates

September brought a noticeable pulse back to the Greater Toronto Area housing market. TRREB reported 5,592 homes sold across the region — an 8.5% increase compared to the same time last year. This rebound comes alongside a 4% increase in new listings, with 19,260 properties entering the market.

While activity picked up, prices continued their modest retreat. The MLS Home Price Index Composite Benchmark dipped 5.5% year-over-year, while the average selling price landed at $1,059,377, down 4.7% annually. On a seasonally adjusted basis, the average price held relatively flat month-over-month (up 0.2%), while the benchmark dipped slightly (-0.5%).

With more homes for sale and increased buyer negotiation power, the market remained competitive — but not chaotic. This remains a market driven by opportunity-seeking buyers and realistic sellers.

Interest Rates & Economic Backdrop

After holding steady for months, the Bank of Canada announced a much-anticipated rate cut in September — lowering its key policy rate to 2.50%.

The move came in response to softening inflation, weaker job creation, and ongoing global trade challenges. It also provided a notable psychological and financial boost for homebuyers, many of whom had been sidelined by borrowing constraints.

Lower rates mean more manageable monthly payments — especially for variable-rate borrowers or those renewing mortgages. According to Global News, some households are now able to qualify for homes that had previously been out of reach.

Expectations are building for two more 25-bps cuts before spring 2026. If realized, this could significantly improve affordability metrics and buyer confidence.

Deep Dive: Sales, Listings & Price Trends

The September landscape was defined by:

More sales: 5,592 transactions (up 8.5% YoY)
More choice: 19,260 new listings (up 4% YoY)
Lower prices: Benchmark HPI down 5.5%, average price down 4.7%
Subtle shift: Sales up vs August, but listings down → signs of slight tightening in certain pockets

This mild tightening suggests some segments — especially entry-level freeholds and move-in-ready condos — may see more bidding activity heading into the fall.

Condo Market & Our Brokerage Lens

Here’s where things got interesting for us at Toronto Livings.

While broader TRREB data showed continued softness in the condo market, our listings told a different story. Every condo we had on the market in September sold faster than expected — often within a week, and in some cases with multiple offers.

Buyers seem to be responding to three things:

Relative affordability: Condos offer a lower price point for end-users and investors alike.
Inventory balance: With listings plateauing, urgency is returning.
Renewed investor appetite: Lower rates + strong rental demand = better ROI math.

This isn’t a market-wide shift yet — but it’s a trend we’re watching closely, especially downtown and in midtown nodes like Yonge & Eglinton and Liberty Village.

What Buyers & Sellers Should Watch

For buyers:

Affordability is trending in your favour. Lower mortgage rates = more purchasing power.
There’s still room to negotiate. Prices are down YoY, and sellers are motivated.

For sellers:

Well-prepped, well-priced homes are moving. Especially in the condo and mid-tier freehold space.
Professional staging, marketing, and pricing strategy matter more than ever.

For everyone:

Inventory may tighten further if new listings continue to slow and sales ramp up.
October and November often bring strategic buying opportunities before the winter slowdown.

Outlook & Forecast

TRREB expects 76,000 total sales by year-end, with modest price growth returning in early 2026 — assuming more rate cuts are on the table.

But there are caveats:

Construction activity is falling — new housing starts have slowed considerably.
Policy coordination is lacking — TRREB is calling for better alignment between all levels of government and industry players.
Supply chain and labour constraints continue to weigh on delivery timelines.

Still, with borrowing costs easing and buyer sentiment rising, the stage may be set for a more active close to the year.

Thinking of making a move this fall? Let’s talk — the market may offer more opportunities than you think.