GTA Real Estate Market Update – November 2025 (Prices, Sales, Trends)
The latest GTA real estate market update November 2025 shows another softer month across the board. Sales, listings, and the average selling price were all down compared to last year. But there’s more to the story than the headline numbers. November also brought encouraging economic signs that could help rebuild confidence if the positive momentum continues.
Below is a clear breakdown of what happened, why it matters, and how it could impact your real estate plans. This GTA real estate market update November 2025 aims to give you a simple view of the trends without the noise.
Why the Market Softened in November
Many buyers stayed on the sidelines this fall. Higher borrowing costs and mixed economic news made people more cautious. Some waited for more clarity on interest rates. Others paused their plans until they felt more secure about their long-term job situation.
As part of the GTA real estate market update November 2025, TRREB noted that November brought encouraging news on jobs and the broader economy. They also explained that reports on employment and economic growth were stronger than expected. While this doesn’t mean buyers have returned yet, TRREB stated that if this momentum continues, consumer confidence could start to improve moving into 2025 and 2026.
“If this positive momentum continues, more people will be in a position to consider purchasing a home in 2026.” — TRREB President Elechia Barry-Sproule
Economic confidence often improves before buyer activity rises — and the GTA real estate market update November 2025 shows the first early signs of that pattern forming, not a confirmed shift yet.
November 2025 Market Highlights
Here’s a clear snapshot of the GTA real estate market update November 2025:
- 5,010 sales (down 15.8% from November 2024)
- 11,134 new listings (down 4%)
- Average selling price: $1,039,458 (down 6.4% year-over-year)
- MLS® HPI Composite (a measure of typical home value): down 5.8%
Month-over-month, both sales and listings dipped slightly from October. Prices remained close to last month’s levels, showing some stability even with softer activity.
This tells us the slowdown is more about buyer hesitation, not a sudden drop in underlying demand.
What This Means for Buyers
Buyers are currently benefitting from a well-supplied resale market. There’s more selection, less pressure, and room to negotiate — something we haven’t seen much of in recent years.
This type of market gives buyers the ability to:
- Compare more homes
- Take their time
- Avoid bidding wars
- Make conditional offers
- Negotiate price and terms
But this window may not last long.
If confidence continues to build and inventory tightens, conditions could shift by late 2025. The GTA real estate market update for November 2025 suggests this possibility — depending on how the economy performs.
If you’re planning to buy soon, you can explore the full buying process here:
👉 Buyer Checklist
What This Means for Sellers
Even though sales are down, motivated buyers are still active. The buyers who are out there today are serious and prepared. Smaller waves of activity can still create strong results when pricing and presentation are handled correctly.
Sellers who prepare early and list with a strategy tend to attract better offers and sell faster, even in a slower market.
Preparing early makes a big difference. You can see our full seller prep guide here:
👉 Seller Checklist
If you’re curious what your home could sell for today, you can request a free value estimate:
👉 Free Home Evaluation
What to Watch Going Into 2025–2026
Here are the key factors shaping the GTA housing market update next year:
- Job growth and economic confidence
- Interest rate direction
- Supply levels and new listings
- New construction activity
- Return of buyer demand
When you look at the GTA real estate market update November 2025, it’s clear that economic momentum is going to play a major role in how quickly things shift.
Want a Breakdown for Your Neighbourhood?
If you’re thinking about buying or selling in 2025 or 2026, this is the perfect time to understand your options. A simple strategy session can help you prepare, plan, and make smart decisions in next year’s market.
Feel free to reach out anytime — I’m always here to help.
Source
View the full TRREB monthly report here:
👉 TRREB Market Watch