Real Estate Market Report | Toronto | December 2025
Sales Collapse Drives Sharpest Price Declines Among Major Markets
With an uncertain economic future, homebuyers are looking to see what the final implications may be – the good news is that selling with Bōde mitigates that risk entirely by maximizing your equity, you’ll outperform traditional methods of buying and selling.
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So what's happening in the Toronto real estate market as of December 2025?
Across Toronto’s market, the supply-demand imbalance is becoming increasingly pronounced. New listings tracked only 2% above the five-year November average, but sales came in 14% below typical levels. That gap pushed inventory 41% higher and stretched months of supply 46% beyond the November norm. What we’re witnessing is substantially reduced buyer urgency and significantly extended decision cycles. Year-over-year pricing has declined 6.02%, while that 1.41% monthly drop confirms ongoing near-term pressure. Sellers are facing the most competitive environment in years, while buyers have regained meaningful leverage through expanded choice, favorable timing, and negotiation power that’s been absent from this market for an extended period.
Toronto's Detached Homes
The detached segment is experiencing clear cooling, though sales are holding up better than other major markets. New listings surged 14% above the five-year November average while sales declined 6% below typical levels. Inventory jumped 60% above the norm—the highest relative increase across all property types—pushing months of supply 58% higher than usual for November. The benchmark for detached homes stands at $1,489,700 (HPI: 313.6), with price momentum weakening considerably—down 4.52% month-over-month and 8.84% year-over-year. Higher carrying costs and stretched affordability continue constraining demand at this elevated price point. Sellers must price competitively and expect longer market times. Buyers hold their strongest negotiating position in several years, particularly in this segment.
Toronto's Condominums
Toronto’s condominium market presents a puzzling data picture that warrants caution in interpretation. New listings came in 4% below the five-year November average while sales dropped sharply—23% below typical levels. Inventory climbed 32% above the norm, driving months of supply 47% higher than usual for November. The condominium benchmark sits at $576,500 (HPI: 279.3), with pricing showing a modest 0.29% month-over-month gain but an anomalous -43.85% year-over-year decline that appears inconsistent with broader market trends and likely reflects data reporting issues or methodology changes. Setting aside that questionable annual figure, the condominium segment shows elevated inventory meeting substantially weakened demand. Sellers face increased competition despite reduced new supply, while buyers are finding more selection and negotiation flexibility than they’ve had in years.
Toronto's Attached Homes
Semi-detached properties show the most unusual pattern in Toronto’s market, with data that suggests potential reporting anomalies. New listings increased 5% above the five-year November average while sales came in essentially flat at 1% above typical levels. Inventory jumped 44% above the norm, with months of supply running 35% higher than the November benchmark. The semi-detached benchmark stands at $1,172,200 (HPI: 340.8), with a 2.64% monthly decline but an implausible 66.41% year-over-year gain that’s highly inconsistent with broader market fundamentals and likely reflects data collection issues. Looking past that questionable annual figure, the core story here is elevated inventory meeting stable but unexceptional demand. Sellers should expect more competition and moderate pricing pressure, while buyers benefit from improved selection without the extreme bidding dynamics of recent peak years.
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