The Market Is Calmer Than the Headlines Suggest
If you’ve been following Toronto real estate this fall, you’ve likely seen the usual mix of doom-and-gloom headlines and “now’s the time to buy” hot takes. The truth, as usual, is somewhere in between.
The October Toronto Real Estate numbers just came in, and they’re painting a picture of a market that’s stabilizing — one where buyers are quietly making their move, and sellers are adapting to new realities.
What I’m Seeing Right Now
- Sales are up month-over-month since July — across condos, semis, and detached homes.
- Days on market remain high, giving buyers time to make thoughtful offers.
- Inventory is tightening, which means listings are being absorbed at a steady pace.
- Prices are modestly down across most segments — but that’s exactly what’s attracting more activity.
The recent 0.25% rate cut from the Bank of Canada is still too new to measure, but early signs point to renewed buyer confidence as we close out the year.
Toronto Condo Market
- New Listings: Down 5.6% year-over-year
- Quantity Sold: Up 3.4% year-over-year
- Pricing: Down 1% year-over-year
- Days on Market: Up to 35 (from 29)
My Take:
We may have already seen the bottom of the condo market. Over the last few months, pricing dips have narrowed to just 1–3%, compared to the steeper drops earlier in the year.
I’m still working with many eager first-time buyers taking advantage of this window — and as we approach the holidays, motivated sellers are offering some of the best opportunities we’ve seen all year.
Semi-Detached & Row Homes
- New Listings: Up 3% year-over-year
- Quantity Sold: Up 10.1% year-over-year
- Pricing: Down 6% year-over-year
- Days on Market: Up to 20 (from 18)
My Take:
Momentum is building in this segment. Prices and sales have both been rising month-over-month since July.
This category often reacts first to market changes — and buyers with tighter budgets are re-entering thanks to rate cuts and a more balanced environment.
Detached Homes
- New Listings: Up 7.3% year-over-year
- Quantity Sold: Down 14.3% year-over-year
- Pricing: Down 14% year-over-year
- Days on Market: Up to 25 (from 21)
My Take:
The 14% average price drop looks alarming — until you remove the ultra-luxury sales that skewed last year’s numbers.
In October 2024, a $24.5 million sale (and several other $10M+ listings) inflated averages. Without those, the real change in detached pricing is closer to 6%, not 14%.
So, while luxury is quieter, the broader detached market remains steady and active.
What This Means for Buyers and Sellers
Right now, we’re in a balanced, buyer-favoured market — the kind that allows for strategy, patience, and good deals.
Sellers are motivated, rates are easing, and buyers have room to negotiate. Remember: in real estate, money is made on the buy, not the sell — and this fall continues to present opportunities for those ready to act.
Work With a Broker Who Knows the Numbers — and the Neighbourhoods
At Toronto Realty Boutique, I help clients buy and sell across Toronto — from first-time buyers entering the condo market to seasoned sellers looking to downsize or invest.
If you’d like to talk through what these numbers mean for your next move, you can book a call directly with me, or explore these helpful resources:
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