📉 We’re Officially in a Buyer’s Market—Now What?
For the first time in over a decade, Toronto real estate has firmly entered buyer’s market territory. If you’ve been waiting on the sidelines—whether you’re a Millennial, Gen Z, or simply a move-up buyer—this might be the opportunity you’ve been hoping for.
The April 2025 TRREB numbers are clear:
- 🏷️ Sales down 23.3% year-over-year
- 🏡 New listings up 8.1%, but…
- 📈 Active listings up 54%, meaning more homes are sitting unsold
- 🧮 Sales-to-New-Listings Ratio (SNLR): 29.7%
- 📦 Months of Inventory (MOI): 4.9
Those two last metrics are the clinchers—SNLR under 40% and MOI over 4 months both signal a full-fledged buyer’s market.
🧠 But Prices Aren’t Collapsing—Yet
The average price in April 2025 was $1,107,463, down 4.1% year-over-year. However, month-over-month prices are still trending slightly upward. Sellers are holding out. Buyers are hesitant. Something has to give.
“We’re not seeing panic—we’re seeing pressure build. And when pressure builds, you either see price drops or a wave of buyers coming back in.”
🌆 Under-the-Radar Neighbourhoods Defying the Trend
While much of the city is cooling, a few under-the-radar neighbourhoods are quietly heating up:
- W03 (Keelesdale/Fairbank): Condo prices up 3.3%
- W04 (Glen Park/Yorkdale): Condo prices up nearly 6%
- WO2 (Junction/High Park): Detached prices only down 0.5%
- EO2 (East York): Detached prices up 8%
These areas are seeing buyer demand hold strong, especially for family-sized homes and larger condos under $1M.
🏢 The Condo Glut is Real
Over 50% of current active listings are condos—many in buildings built for investors, not end users. Units are sitting longer, with DOM rising to 33 days on average.
“The problem isn’t just pricing—it’s fit. Buyers don’t want 400 sq ft one-bedrooms. They want real homes.”
This mismatch is why buyers shouldn’t just focus on price—they need to focus on product and neighbourhood trajectory.
🕰️ Historic Inventory Highs
Toronto hasn’t seen this much inventory in April since before the 2017 foreign buyer tax—and certainly not since the pandemic. Active listings are now pushing past 10,000, with most clustered in dense, investor-heavy neighbourhoods like:
- CityPlace
- Humber Bay
- Yonge & Eglinton
- Scarborough Town Centre
💡 What Does This Mean for You?
If you’re a buyer:
- Now is the time to explore options—you have leverage you haven’t had in years.
- Focus on end-user product in undervalued neighborhoods.
- Consider larger condos or townhomes in places like W03, W04, and EO2.
If you’re a seller:
- Don’t rely on old comps. The market is shifting fast.
- Price strategy and product fit are everything—especially if you’re in a condo-heavy zone.
🛠️ Tools, Guides & Next Steps
✅ Try the Valery AI Home Evaluation Tool to get a real-time, data-driven price on your home.
✅ Download the Urban Family Guide to find family-friendly, under-the-radar neighborhoods in Toronto.
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🔍 Final Thoughts
We’re in rare territory: prices haven’t collapsed, but buyers finally have room to breathe. What you do with that leverage is up to you.
“Don’t wait for the perfect moment. Sometimes, the perfect moment is hidden in the noise. That’s where the under-the-radar gems live.”
