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Sales slow further, prices dip, and inventory remains elevated — creating more opportunity for savvy buyers.
🔍 By the Numbers: November at a Glance
Total Sales: 5,010 (–15.8% YoY, –18.3% MoM) Toronto Real Estate Board+1
Average Selling Price: $1,039,458 (–6.4% YoY, –1.4% MoM) Toronto Real Estate Board+1
New Listings: –4.0% YoY, –1.4% MoM Toronto Real Estate Board+1
Active Listings: 24,549 (+16.8% YoY, –11.2% MoM) Toronto Real Estate Board+1
Sales-to-New Listings Ratio: ~ 45%
Days on Market:
Property DOM: 56 days
Listing DOM: 34 days
Months of Inventory: 4.90 months — a balanced market, but still favouring buyers
SOURCE: TRREB November 2025 Market Update
🧠 Top Takeaway
With sales dropping to a five-month low and prices continuing to soften — even as inventory remains elevated — November provides buyers with substantial choice and negotiating leverage, while sellers need strategy more than urgency.
What's happening locally? Durham Region Market Insights
Every city/town is unique as are the communities within them. Scroll through to find your town.
🏘 Segment Performance
Condos: ~ 25.9% of sales, ~ 33.5% of active inventory, with 6.33 months of supply → Firm buyer’s market
Detached Homes: 4.83 months of supply → Balanced, but trending toward buyer’s market
Durham Region: ~ 3.46 months of inventory → Balanced
City of Toronto: ~ 4.9 months inventory → Balanced, but leaning toward buyers
SOURCE: TRREB November 2025 Market Update
🏦 Economic & Financing Context
The Bank of Canada (BoC) cut its policy rate to 2.25% in late October — its lowest point in years — aiming to support the economy amid ongoing macroeconomic uncertainties. Bank of Canada+1
That cut lowered borrowing costs and helped affordability, but the BoC has signalled the rate-cutting cycle may be over for now, as inflation stabilizes and economic pressures recalibrate. Yahoo Finance+1
As a result, many rate-sensitive buyers who acted on earlier cuts already benefited; new buyers may now need to factor in elevated supply and cautious lender sentiment.
SOURCES: Bank of Canada, Yahoo Finance
🔄 What’s Changing — and What’s Not
Sales continue to pull back — November marked one of the slowest months for transactions in 2025.
Prices remain soft — Average selling price saw further YoY decline, with more downward pressure likely until supply balances with demand.
Inventory stays elevated — Nearly 25,000 active listings gives buyers strong selection and leverage.
Condos remain buyer-friendly, while detached homes and certain suburbs show early signs of pricing stabilization — but require careful positioning.
Rate cuts offer support, but uncertainty lingers — Economic headwinds, global trade tensions, and market caution continue to influence buyer confidence.
⚖️ Buyers vs. Sellers: What This Means
For Buyers:
More options and lower prices — this is a good window for negotiation, especially for condos and mid-priced detached homes.
Because inventory is deep, you have time to assess, compare, and negotiate — no need to rush.
If you find a property that fits your needs and budget now, the odds favour securing a favourable deal.
For Sellers:
Pricing aggressively and realistically matters more than ever — overpricing in a buyer-favoured market often leads to extended time on market.
Presentation and marketing will matter — with many options available, the standout homes will get attention.
For detached or resale homes in balanced zones like Durham, timing and proper positioning remain the keys to success.
🔮 Quick Verdict
✅ Bottom Line
With steep price drops in 2025, high inventory, and softer demand, November 2025 reinforced a more buyer-favoured market.
If you’re thinking about buying, selling — or just curious where this market is headed — reach out. We’ll help you navigate intelligently and confidently in this evolving real-estate landscape.
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