The Market in a Minute! November 2025
The Fall Cool-Down Hits the GTA
September’s spark didn’t last long. After a brief surge of buyer activity following September’s rate cut, October reminded everyone that confidence is still fragile. The Bank of Canada trimmed rates again on October 29, bringing the overnight rate down to 2.25%. It’s early, but that move could set up a busier winter if buyers regain confidence heading into the holidays.
GTA sales came in at 6,138, down 9.5% year-over-year, while new listings edged up 2.7%. The result is more choice for buyers and more competition for sellers. Active listings climbed to nearly 27,800, and the average selling price slid to $1,054,372—about 7% lower than last October. Detached homes outside the core are still holding steadier than most, but condos are still the weak spot. Sales slid nearly 17% with prices dropping double digits, especially downtown where investors are treading carefully.
Beyond the numbers, the big underlying factor right now is confidence. Global politics, trade uncertainty and higher renewal costs are making buyers hesitant, and that means more time and strategy is needed on each deal.
The market feels slow because people are thinking harder. Buyers are weighing every move, and the ones who do step forward are serious. Sellers who understand that mood, who price with care and present their homes well, are still finding success while the rest wait for clarity that may not come soon. It’s all about patience over panic.
