Posted on
October 8, 2025
by
Brian Elder
These days I am happy to see a bright spot in Toronto’s real estate market news.
Home sales in September 2025 were up by 13% compared to the same month in 2024, which is the good news. But (and you know there’s always a but), sales in 2024 were exceptionally sluggish due to a higher interest rate climate and consumer confidence riding lower than current levels.
The other qualification to keep in mind is that the number of sales is still historically low. Last month, 2,063 properties sold. Compared to September 2021 where TRREB recorded 3,377, sales were down 39% from the high’s of 2021!
Now, just because there are sales doesn’t mean the market trajectory is going up. It means to me that people are taking advantage of a down market as opposed to thinking they have to get in on a hot market.
This time last year, people were sitting on the fence thinking that the sky was falling and it wasn’t the right time to move. Now I’m detecting a shift in mindset. There’s definitely money out there that people are itching to spend, but they want to spend it wisely. They're taking time to make decisions and there’s so much more inventory out there, they can. It feels more stable now, less of a guessing game and more strategic.
In a hot market, people make a purchase in the fear that they’ll be priced out of the market; classic FOMO. In a down market, buyers are now confident that they’re not overpaying, despite the fact that prices continue to soften in some sectors.
If you’re looking to sell a property this fall, there are two reasons to list it sooner rather than later:
1. It’s better to lead the market than chase it. Should prices soften, each new buyer expects to pay less than the one before — so waiting can mean selling for less.
2. People used to list in November and sell within a week, but considering the length of time it’s taking to sell, listing in November could be a little late in the game. Historically, we see lower average prices in December, January, and February.
My prediction? I think we’ll continue to see an increase in the number of sales. Last October, there was a bump in sales (almost 2,500 properties sold in Toronto) so whether we beat that is hard to say. I also think we’ll continue to see price softening across the board, but not significantly.
The big banks are predicting another rate cut before the end of the year (there are two more announcements, with the next one being October 29). Keep in mind this affects variable rates, not fixed ones.
Overall, it’s a more balanced market - one where patience and strategy matter more than panic or hype. If you’re thinking about selling, now’s the time to position your property ahead of the next wave of listings and before prices dip further.
Ready to talk strategy? Let’s discuss the best timing and approach for your sale - reach out anytime to start the conversation.
