Welcome back to Market Watch!
November marked a quieter month across the Greater Toronto Area (GTA) as many buyers continued to wait for clearer economic signals and greater stability in borrowing costs. With higher inventory and moderated demand, the market leaned further into buyer-friendly territory, offering more choice and less competition across most home types.
GTA REALTORS® reported 5,010 sales through TRREB’s MLS® System in November 2025 — a 15.8% decline year-over-year. New listings came in at 11,134, down 4% annually, while active listings rose to 24,549, reflecting a well-supplied market.
The average selling price, at $1,039,458, was 6.4% lower than last November, and the MLS® Home Price Index Composite Benchmark declined 5.8% year-over-year, highlighting the continued normalization in market conditions.
Despite softer sales, prices remained relatively stable month-over-month, signalling that many sellers continue to hold firm while buyers gain negotiating room. As we move toward year-end, the GTA is characterized by balanced to buyer-leaning conditions, presenting meaningful opportunities for well-prepared purchasers.
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November 2025 Market Watch Report
Home sales in the GTA reached 5,010 in November, while new listings declined slightly to 11,134, contributing to a well-supplied market with 24,549 active listings. The average selling price settled at $1.04 million, down year-over-year but relatively stable month-to-month. With borrowing costs still elevated and many buyers awaiting stronger economic signals, market activity remained moderate, tilting conditions in favour of purchasers. Greater inventory, reduced competition, and steady pricing have created an environment where buyers have more flexibility and sellers can navigate the market with clearer expectations as the year draws to a close.
