The November market report is out!

As we approach the holiday season, the Greater Toronto real estate market is on track to finish the year with just over 60,000 sales, down from the 70,275 reported in 2024. Average selling prices continued to trend lower compared to a year earlier, with many prospective buyers remaining on the sidelines as they continue to wait for reports of a more positive economic outlook.

In November, there were 5,010 home sales, a 15.8% decline from November 2024. Active listings reached 24,549, representing a 16.8% increase year-over-year. The average selling price was $1,039,458, down 6.4% compared to the same month last year.

The condominium market saw sales decline by 20% year-over-year, though average prices experienced only a modest decrease of 3.8%. Looking ahead, we expect additional new condo units to be delivered next year. However, beginning late in 2026 and beyond, the number of new completions is projected to slow dramatically, reducing inventory and ultimately putting upward pressure on prices over time.

Jason Mercer, Chief Market Analyst for the Toronto Regional Real Estate Board, recently noted that November’s employment and economic growth figures were stronger than anticipated. The Canadian economy appears to be navigating trade-related challenges better than expected, with increased certainty on the trade front combined with the positive economic impact of new infrastructure projects we are foreseeing a boost in homebuyer confidence moving forward.