Data-Driven Overview of Prices, Sales, DOM & Regional Trends
The Greater Toronto Area (GTA) condo resale market continued its slow, buyer-favoured pattern in November 2025, with sharp declines in sales activity, moderate price adjustments, and longer selling times across most regions. Both TRREB and third-party market summaries confirm that buyers remain cautious, even as interest rates trend downward and inventory stabilizes.
1. GTA-Wide Condo Performance (November 2025)
Sales activity dropped sharply, recording one of the steepest annual declines in the condo segment:
Total GTA condo sales: ~1,299 units (-21.7% YoY)
GTA average condo price: $663,290 (-3.8% YoY)
Average Days on Market (DOM): up 18% from the previous quarter
This decline in sales is more significant than the broader housing market’s -15.8% YoY drop in total GTA home sales.
However, prices have remained relatively stable, suggesting sellers are holding firm while buyers wait for better economic signals.
Source: TRREB Market Watch & TRREB Quick Market Overview Charts
2. 416 vs 905: Diverging Price Patterns
Toronto (416) Condo Market
Toronto carries the bulk of condo activity and continues to show better price resilience:
416 condo sales: 880 units (-21.8% YoY)
416 average price: ~$701,259 (-1.7% YoY)
Although sales volume dropped, prices dipped very modestly, partly due to strong demand in downtown and transit-centric neighbourhoods.
905 Region Condo Market
The 905 experienced much deeper price corrections:
905 condo sales: ~419 units (-21.4% YoY)
905 average price: ~$583,578 (-8.7% YoY)
Why the larger drop?
More investor-heavy buildings
Greater competition from new completions
Less stable location premiums compared to Toronto’s core
Summary:
416 = stability
905 = affordability + more price declines
Source: summary of TRREB November data
3. Days on Market Rising Across the GTA
TRREB’s Q3 and November data confirm a clear shift:
Condo DOM increased by ~18.2% quarter-over-quarter
Many units now sit 30–45+ days before receiving serious offers
Previously listed properties show high PDOM (60–90+ days)
This rise in market time gives buyers more leverage:
Easier negotiation
More conditional offers
Lower competition per listing
Source: TRREB Quick Market Overview
4. Price Context: Year-over-Year Movement
Here’s how November 2024 compares to November 2025:
Interpretation:
Despite weaker activity, condo prices have not collapsed. Instead, they have reset modestly, especially in 416.
The 905 region—more sensitive to investor sentiment—experienced the largest adjustment.
5. Quarter 3 (2025) Context: Why November Looks the Way It Does
TRREB’s Q3-2025 condo report outlines the pattern leading into November:
4,375 condo sales in Q3 (+2.5% YoY)
Average price: $649,168 (-6.4% YoY)
Toronto average: $677,095 (down from $713,678 in Q3-2024)
New listings: down 2.7% YoY
This suggests most of the price correction happened earlier in 2025, while November mainly reflects slower buyer sentiment rather than a new downturn.
Source: TRREB Q3 Condo Market Report
6. Macroeconomic Drivers: Rates & Jobs
Interest Rates
Bank of Canada lowered its policy rate to the 2.25%–2.75% neutral range by late 2025
Mortgage affordability improved slightly
But rate cuts alone did not boost sales, especially for condos
Sources: Reuters,
Employment
Toronto unemployment hovered around 7.8% in late 2025
Higher insecurity among first-time buyers → slower condo absorption
TRREB reinforced that employment confidence is essential for a 2026 market recovery
Sources: CREA, Toronto Employment Survey
7. City-by-City Snapshot (Summary Form)
Toronto
Strong rental demand supports pricing
Investor-heavy micro-markets still weak
Transit-connected areas remain stable (Downtown, Midtown, East End)
Mississauga (Peel)
Price softness in Square One high-rise cluster
Downsizer demand stable in Port Credit & Lakeview
Investors sensitive to rent levels vs carrying costs
Vaughan / Markham (York)
VMC & Highway 7 corridor remain active but layout/view premium is huge
Buyers comparing newer vs older towers aggressively
Pickering / Ajax / Whitby / Oshawa (Durham)
Best affordability in GTA
GO-station-adjacent condos outperform
Demand strongest among first-time buyers
Oakville / Burlington / Milton (Halton)
Boutique buildings stable
Larger units attractive to downsizers
Fewer transactions = more price volatility
8. Market Takeaways in One Look
Buyer Market Indicators
✔ Sales down sharply
✔ DOM up
✔ Price softness in 905
✔ More negotiation space
Seller Market Survival Tips
✔ Price based on 2025 sold data, not 2021 peaks
✔ Superior staging + photography required
✔ Be open to conditional offers
✔ Consider incentives (fee credits, flexible closings)
Investor Insights
✔ Resale value far stronger than pre-construction
✔ Urbanation shows pre-con sales at 35-year lows, making resale more appealing
✔ Cash-flow analysis more important than appreciation in short term
Source: Zoocasa.com
Final Summary
The November 2025 GTA condo market is defined by:
Lower sales, not collapsing prices
Tighter buyer psychology, driven by job concerns
Stable pricing in 416, deeper adjustments in 905
Rising DOM, increasing negotiation power
Strong value proposition in resale vs pre-construction
As we move into 2026, the key question will be buyer confidence—when interest rates, employment expectations, and affordability align, the condo market is positioned for a gradual rebound rather than a rapid recovery.
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