Current Market Conditions

As we step into cold December, the Toronto Real Estate Market is closing out November 2025 in a noticeably calmer and more balanced position than we’ve seen in recent years. After a period defined by rapid price changes and shifting buyer sentiment, the market has settled into a slower, more deliberate rhythm. This month’s numbers have offered clarity for both buyers and sellers trying to understand how the Toronto real estate market is heading into winter.

According to GTA housing sales November 2025 news, 5,010 home have sold across the region, down 15.8% year-over-year. This decline reflects continued caution. Buyers are present, but they’re taking more time, comparing options, and negotiating more carefully than in previous years.

The average home price GTA November data shows prices sitting at $1,039,458, a 6.4% decline from last year. Specifically, the average home price Toronto November 2025 reflects a market that has adjusted to higher borrowing costs and changing demand. The MLS HPI Composite benchmark is down 5.8% year-over-year, reinforcing the idea that prices have reset but are no longer in free fall. Homes are also taking longer to sell with the average days on market increasing from 50 to 56, which aligns with a market where buyers feel less pressure to act quickly.

Link below for previous Toronto Housing Market Reports

• Toronto Housing Market Report – November 2025
• Toronto Housing Market Report – October 2025
• Toronto Housing Market Report – September 2025
• Toronto Housing Market Report – August 2025
• Toronto Housing Market Report – July 2025

Demand and Interest Rates

Demand in November remained cautious but showed signs of underlying improvement. The Bank of Canada’s rate decision on December 10, holding the policy rate steady at 2.25%, has helped stabilize buyer expectations. While this hasn’t triggered a surge in activity, it has improved affordability and confidence at the margins.

Many buyers are using this period to secure financing and prepare for potential additional rate cuts in the months ahead. This is especially true for first-time buyers and move-up buyers who now have more negotiating power than they’ve had in years.

Freehold homes, including detached and semi-detached properties, continue to see healthier interest. Condo demand has weakened and have become less desirable. As a result, condo prices have softened even more than the broader market, dragging down overall averages.

Supply of Homes

On the supply side, new listings totaled 11,134 in November, down 4.0% year-over-year. While fewer new listings came to market, active listings remain elevated, up 16.8% compared to last year. This means buyers still have more choice than they did during the peak years, even as seasonal listing activity slows.

For sellers, this environment is competitive. Pricing and presentation matter more than ever. Homes that are staged, updated, and priced realistically are still selling, while those that miss the mark are sitting longer and often requiring price adjustments. The market is clearly rewarding preparation and penalizing complacency.

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Market Outlook

The takeaway from real estate reports of November 2025, is that the Toronto market is neutral and stable. It’s not overly optimistic, but it’s far from pessimistic. Prices have adjusted to more sustainable levels, borrowing costs are easing slightly, and both buyers and sellers are operating with clearer expectations.

As we head into the winter months, the Toronto Real Estate Market appears to be finding its footing. The pace is slower, the tone is measured, and the path forward favors informed, realistic decisions on both sides of the transaction.

Key Takeaways

• Average home price Toronto November 2025: $1,039,458, down 6.4% year-over-year
• GTA housing sales November 2025: 5,010 sales, down 15.8% year-over-year
• MLS HPI Composite benchmark: down 5.8% year-over-year
• Listings: 11,134 new listings, down 4.0% year-over-year;
• Active listings: up 16.8% compared to last year
• Days on market: average increased from 50 to 56, reflecting a slower, more deliberate buying pace
• Interest rates: December rate hold at 2.25%