🍂 Toronto Real Estate Market Update – November 2025
Fall has officially arrived — the clocks have changed, the mornings are crisp, and the real estate market is adjusting right along with the season.
A Market Favouring Buyers
Right now, we’re seeing conditions that continue to favour homebuyers. Average selling prices are being negotiated down while new listings are up — giving buyers more options and a little more breathing room than we’ve seen in recent years.
The recent rate adjustment from the Bank of Canada has also encouraged more buyers to step off the sidelines and explore what’s out there. With more inventory and slightly lower borrowing costs, we’re seeing renewed interest in the fall market.
October at a Glance
According to the Toronto Regional Real Estate Board (TRREB):
6,138 home sales were reported in October 2025 — down 9.5% compared to October 2024
The average selling price came in at $1,054,372, a 7.2% decrease year-over-year
Active listings rose 17.2% to 27,808
Months of inventory now sit at 4.5, indicating a more balanced market between buyers and sellers
If no new listings were added, all available homes in the GTA would sell in just over four months — a sign of a healthy, balanced market where buyers and sellers have more equal footing.
What the Experts Are Saying
Jason Mercer, TRREB’s Chief Information Officer, noted that “The monthly mortgage payment for an average-priced GTA home continued to trend lower in October, benefitting from both lower borrowing costs and lower selling prices.”
That’s great news for homebuyers who have been watching the market closely — it means more people can now afford homes that truly fit their needs and budgets.
A Boost for First-Time Buyers
On the new construction side, the Ontario government recently proposed a rebate of the full 8% provincial portion of HST for first-time buyers purchasing new homes up to $1 million.
This could mean up to $80,000 in savings when combined with existing provincial programs — a major win for those trying to break into the market while also supporting new housing development.
Looking Ahead
As we move further into the fall market, buyers are finding a landscape filled with opportunity and choice. Softer prices, more inventory, and improved affordability are creating favourable conditions for those ready to make their move.
If you’ve been thinking about upsizing, downsizing, or investing, now may be the perfect time to explore your options.
Whether you’re buying, selling, or just keeping an eye on the market, I’m always here to help you navigate with clarity, strategy, and confidence.
