🌤️🍂 Summer’s Over, Market Still Snoozing

Well, here we are, September in Toronto. The patios are winding down, the CNE is packed up, and kids are back in school. The real estate market? Still rubbing the sleep out of its eyes.

August was, as always, the slowest month of the year. There’s a reason most agents book their vacations then. Showings are quiet, phones stop buzzing, and buyers and sellers alike are more interested in cottages and ballgames than bidding wars.

So, what did August look like? New listings dropped hard, sales slowed, and homes sat longer. The only thing that spiked was the humidity.

But here’s the catch: slow months like this can be sneaky-good for buyers. Less competition, motivated sellers, and more room to negotiate. If you were active in August, you may have had an edge while everyone else was still in Muskoka.

🏡 What’s Happening Right Now?

Buyers are still showing up, but they’re cautious. They’re running numbers, asking smart questions, and only pulling the trigger when it makes sense. Sellers, meanwhile, are either holding off until fall or sitting frustrated with listings that didn’t move.

This isn’t a frenzy. It’s Toronto real estate in August: slower, pickier, and a little cranky.

🔍 So What’s the Move?

If you’re buying:
September is your window to act before the market wakes up fully. Sellers who didn’t move their properties in August are ready to listen. You won’t get a downtown detached for $200K under ask, but you can negotiate and maybe walk away with a below-average deal if you play it right.

If you’re selling:
Now is when you put in the work. Buyers are back, but they’re not desperate. Presentation matters. Pricing matters. Your agent’s strategy matters. If your home isn’t prepped and marketed properly, it won’t stand out.

🎯 Why the Specifics Matter More Than Ever

Real estate is never about averages, it’s about specifics.

• What’s happening in your exact neighbourhood?
• How long are homes like yours sitting?
• What features are buyers actually paying more for?

If you’re buying, the right information could save you thousands. If you’re selling, it could mean protecting your equity and getting a premium price.

August may have been a nap month, but the fall market is here. The details are what will separate the smart moves from the costly ones.

You've read my personal opinion, but now here are the cold, hard facts.

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Please note that these statistics cover only the City of Toronto. Not Richmond Hill, Not Mississauga, Not Vaughan, etc. If you would like to know what's happening in another area in GTA, please reach out and let me know. I'm happy to chat!  

‍Want to look on your own and see the numbers for yourself? Just ask and I'll send you the official statistics that every Real Estate agent gets sent from TREB and uses for their market updates. These are the exact numbers I use for my Toronto updates and if you want, I can prepare an update as detailed as this blog update for your city, neighbourhood and even street/buidling!

Don't be shy, reach out and just ask!

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‍So without further ado, let's take a look at the August Statistics with the charts and breakdown below ⤵️

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🔹 New Listings

Detached: 1585 → 1129 (-28.75%)
Semi-Detached: 450 → 266 (-40.89%)
Freehold Townhomes: 181 → 126 (-30.39%)
Condo Townhomes: 437 → 326 (-25.40%)
Condo Apartments: 3319 → 2654 (-20.01%)

📌 Key Takeaway: This is a steep drop across the board. Sellers clearly pulled back in August — some likely away on vacation, others holding off for the busier fall market. This is seasonal, but the size of the drop suggests confidence is shaky too. Expect a bounce-back in September when “back-to-school” also means “back-to-real-estate.”

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🔹 Active Listings

Detached: 2781 → 2355 (-15.33%)
Semi-Detached: 560 → 463 (-17.32%)
Freehold Townhomes: 267 → 222 (-16.85%)
Condo Townhomes: 769 → 690 (-10.28%)
Condo Apartments: 6464 → 5831 (-9.80%)

📌 Key Takeaway: Fewer new listings = fewer active listings. Inventory shrank, which helps keep the market from feeling oversupplied. Buyers had less choice, which in theory should support prices — but the next section tells the real story.

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🔹 Sales

Detached: 675 → 536 (-20.59%)
Semi-Detached: 252 → 157 (-37.70%)
Freehold Townhomes: 78 → 70 (-10.26%)
Condo Townhomes: 153 → 116 (-24.18%)
Condo Apartments: 1028 → 890 (-13.42%)

📌 Key Takeaway: Sales fell right alongside listings, but the sharper declines (especially in semis) point to buyer hesitation. With fewer options, you’d expect stronger competition — instead, buyers seem to be in wait-and-see mode, maybe holding for September or hoping for price softening.

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🔹 Average Price

Detached: $1,572,832 → $1,524,066 (-3.10%)
Semi-Detached: $1,242,388 → $1,131,498 (-8.92%)
Freehold Townhomes: $1,114,577 → $1,131,913 (+1.56%)
Condo Townhomes: $821,101 → $784,924 (-4.41%)
Condo Apartments: $684,257 → $667,660 (-2.42%)

📌 Key Takeaway: Prices mostly slid, with semis taking the hardest hit. The one outlier? Freehold townhomes — which actually ticked up slightly, even with slower sales. That might suggest the few that sold were higher-quality or better located, but overall, the trend points to continued softening. Buyers are pushing back on price, and sellers are adjusting.

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🔹 Days on Market

Detached: 25 → 30 (+20.00%)
Semi-Detached: 21 → 25 (+19.05%)
Freehold Townhomes: 23 → 26 (+13.04%)
Condo Townhomes: 30 → 33 (+10.00%)
Condo Apartments: 38 → 38 (No change)

📌 Key Takeaway: Homes are sitting longer across the board, except condos, which are still averaging a steady 38 days. Slower sales + longer DOM = buyers have time on their side right now. Sellers need sharp pricing and strong presentation to cut through.

Ok! That's it for now. Thanks for reading and have a great day! 👋 - Tyson CR

‍‍Want to know what the current value of your home is or what's going on in your neighbourhood?

Please feel free to reach out! I'm happy to prepare a completely free, no obligation custom market report just for you

If you or anyone is thinking of a move don’t be shy and reach out.  

After all, everyone’s individual situation requires an individual and unique strategy and plan.