A Market Finding Its Rhythm
July gave us a clear signal: the Toronto market is no longer stuck. Activity is building, not in a rush, but with a steady confidence we haven’t seen in some time. Buyers are stepping back in thoughtfully, weighing their options, and when the right home comes along, they’re ready to act.
This was the busiest July we’ve seen in years, with sales reaching levels not seen since 2021. It’s proof that, while the market isn’t racing ahead, it’s gaining traction in a meaningful way.
It isn’t the overheated pace of years past, and it’s not the standstill we experienced more recently. Instead, it feels like a market learning to move again, with moments of competition where homes are well-prepared, well-located, and priced to match today’s reality.
More Homes, More Breathing Room
The other big change is choice. More homes are coming onto the market, and many are properties making a second appearance after not selling earlier in the year. That means buyers finally have room to compare, negotiate, and take their time.
For sellers, this added supply raises the bar. Price too high or skip the prep work, and a listing risks being overlooked. But when a home meets the market where it is, the results are still there.
Softer Prices, Sharper Buyers
Prices have adjusted, but this isn’t a collapse, it’s a reset. Buyers are more deliberate now, looking closely at whether a home truly offers value. When it does, they move. When it doesn’t, they walk away.
Condos remain under pressure, with slower demand and more hesitancy from buyers. Freeholds in established neighbourhoods, especially those with charm and livability, are holding their ground more firmly.
Shifting From Selling to Renting
One trend worth noting is how condo owners are adapting. With resale demand still sluggish, more sellers are choosing to lease out their units instead of lowering the price to sell. Roughly one in five condo listings this year has ended up rented, compared to closer to one in seven last year. For buyers, this means more rental options in the short term, but also a signal that condo prices aren’t finding support as quickly as freeholds. For sellers, it’s another reminder that flexibility, whether in pricing or strategy, can make all the difference.
East End Resilience
Here in the East End, the same themes we’ve seen for months continue to play out. Family homes with character, curb appeal, and walkability are still attracting steady attention. These are the properties that move quickly, even in a slower citywide market.
Condos are quieter here too, but as affordability pressures rise, some first-time buyers are beginning to test this segment again, which could bring a bit more activity later in the year.
A Market for Planners
This is not a “rush in and hope” market, it’s a market for planners. Buyers who know what they want and have financing ready are well-positioned to negotiate. Sellers who take the time to prepare and price with precision are still getting strong results, sometimes even drawing multiple offers.
Looking Ahead
August is typically a quieter month, and we expect the same this year. But with buyers back in play and more homes on the market, September and October could give us the clearest picture yet of where things are heading.
One thing we can count on: headlines don’t tell the whole story. Every neighbourhood, every property, and every seller’s situation is different. That’s why strategy and the right guidance matter most in today’s market.
Curious to dive deeper? Explore our Market Report Guide for detailed stats and insights.
