Beat the Rush …Happy Holidays!
A decent month of sales for GTA realtors as 5,010 homes sold through the MLS system. With a listing inventory of about 25,000 homes, it shows that buyers have a good variety of homes to look at before they buy and this also means that 4 homes are NOT selling! More on that later.
The Toronto Real Estate Board reported an average selling price in November as $1,039,458, and it’s interesting to break down that average into different components.
|
Detached |
Semi-Detached |
Row Townhouse |
Condo Townhouse |
Condo Apt. |
Total | |
|---|---|---|---|---|---|---|
|
%of Sales |
45.8% |
9.7% |
10.3% |
7.0% |
25.9% |
98.8%* |
|
Average Price |
$1,346,017 |
$997,499 |
$913,078 |
$718,191 |
$663,290 |
$1,039,458 |
*The missing 1.2% is made of 4 other categories, Link homes, Co-Op apartments, Detached Condos and Co-Ownership apts. They represent such a small % of the sales with negligible impact on the average price so I have not included them, to make the chart easier to read.
The above numbers represent November sales only. If one looks at the year-to-date average price in the GTA (January-November 30) it is $1,071,757, representing a difference of 4.3% from the start of 2025.
Toronto prices have held up well despite the fluctuating interest rates and the concerns over the trade talks, a testimony to people’s desire for home ownership. With encouraging news on jobs and the broader economy in November, I am optimistic that more buyers will get off of the sidelines and enter the real estate market. As funny as it sounds, as interest rates drop many people wait for what they hope is the bottom before they buy and they end up buying as interest rates go up. The same thing occurs with prices. If there is a sense that prices are going up, there will be a mad rush to buy and the bidding wars will resume.
As I wrote above, 4 out of 5 houses are NOT selling! Many realtors put their sign on the lawn and post the house on MLS and wait for it to sell. That worked when there were 5 buyers for every home. You need a professional realtor, someone who understands marketing, follow-up, negotiation and has the support and marketing power of a large worldwide company such as myself and RE/MAX. Did you know that over 25% of the homes in the GTA are sold by RE/MAX?!
If you are considering a move or an investment, contact me. Let’s chat and let me show you the multiple opportunities in today’s real estate market!
Have a great December,
Your Friend in Real Estate,
Howard
TRREB Market Watch – NovemBER 2025
