1) GTA Snapshot
In the Greater Toronto Area, active listings are up 17.2% year over year, sales are down 9%, and prices are down 7.2%. The average time to sell is roughly 50 days. In practical terms, buyers have more choice and are taking their time, while sellers need to price to today’s comparables rather than last spring’s market. Longer days on market are normal in this environment.
2) Durham Snapshot
Across Durham Region, active listings have risen 18% year over year, sales have fallen 17%, and prices are down 5.4%. Inventory is building, which means buyers are more selective. Proper preparation, fixing small issues, staging, and strong marketing, combined with realistic pricing matters more than ever to capture demand.
3) Why This Is Happening
Many consumers expected prices to jump as interest rates moved lower, but October didn’t deliver that outcome because more inventory arrived just as buyers remained cautious. Mortgage renewals at higher rates are squeezing some households; while many can shoulder the increase for 12–18 months, others are opting to list their homes for sale, adding supply and keeping prices in check.
4) Outlook Heading into 2026
Prices are likely to grind sideways through much of 2026 as the market absorbs existing inventory. Conditions will not be uniform: some neighbourhoods will feel softer than others, depending on local supply and product mix. Expect a competitive spring 2026 as traditional seasonal listings overlap with today’s elevated inventory, keeping leverage with well-prepared buyers.
If You’re Selling In This Market
Price to the market you’re in today, not the market you wish you had. Preparation matters: address minor repairs, stage rooms for function and light, and invest in high-quality photography. Be strategic on timing and be ready to adjust pricing or marketing if showings slow during the first two weeks. Responding to feedback is key to avoiding a stale listing.
If You’re Buying In This Market
Take your time and compare active listings with recent solds to understand fair value, then negotiate firmly, especially where days on market are elevated. Get pre-approved early and choose a mortgage term that matches your risk tolerance and time horizon. Do not skip the inspection, particularly for properties marketed “as is,” where unknowns can outweigh any perceived discount.
7) Power of Sale (PoS)
There has been an uptick in Power of Sale listings. These sellers must sell and don’t have the luxury of time; if they can’t sell on their terms, the lender will sell on its terms. The presence of PoS inventory often pressures prices for nearby comparables, particularly for properties that need work or are priced ambitiously relative to recent sales.
8) Mortgage Choices We’re Seeing
The most popular products right now are the:
3-year fixed (~3.99%–4.39%), 5-year fixed (~3.99%–4.39%), and 5-year variable (~3.75%–4.24%).
If you value flexibility while the market clears excess inventory, a 3-year term or a variable can make sense. If payment stability is the priority, a 5-year fixed remains the set-and-forget option. Always shop around—small rate differences can have a large impact on monthly affordability.
9) What We’re Seeing on the Ground
Well-located, move-in-ready homes still sell, but pricing must be realistic. The market is sensitive; if you overshoot, buyers will wait, and the listing risks going stale. Leaving too much “meat on the bone” above recent comparables tends to suppress showings and invites price reductions later, good pricing strategy up front saves time and preserves momentum.
10) Rental Market (Quick Take)
The rental market is adjusting as more supply comes online. Newer units and well-managed buildings continue to draw interest, but pricing power is moderating in pockets with ample choice. Tenants are comparison-shopping more carefully, and clean, fairly priced suites are leasing first. Landlords should focus on presentation, accurate pricing, and quick response times to secure quality tenants.
11) Condominiums & Pre-Construction
We’re seeing select pre-construction projects price below ~$900 per sq. ft. in certain areas, with incentives common as developers work through inventory. A current example is a Pickering project with 2-bed + 2-Bath, ~700 sq. ft. at approximately $539,000. The gap between pre-construction pricing and resale values is narrowing, creating opportunities for end-users willing to compare incentives, timelines, and carrying costs before committing.
Disclaimer: The information provided is for general information purposes only and is drawn from sources believed to be reliable; however, no representation or warranty is made as to its accuracy or completeness. This content does not constitute legal, financial, or mortgage advice, please consult a qualified professional before making any real estate or financing decisions. Not intended to solicit buyers or sellers, landlords or tenants currently under contract.
