May Toronto Real Estate Update

Well, here we go again. Another month, another market update — and if last month was a cautious spring reawakening, this month feels more like a full-on stretch, yawn, and slow shuffle toward the coffee machine. The Toronto market is stirring, folks. We’ve got more listings, more activity, and slowly, more buyers dipping their toes back in the pool (or at least hovering awkwardly near the edge).

But let’s not get carried away...

This is not a seller’s market or a buyer’s market. It’s a "prove it" market. Buyers want deals. Sellers want last year’s prices. And everyone’s a little annoyed that they can’t have both.

We’re still seeing prices hold steady (or dip slightly) in many segments, even with more listings and more sales. So what does that mean? It means the balance is fragile — and perception is everything. Confidence is shaky, but interest is there. Buyers are watching closely, and if the right house comes up at the right price? They’ll bite. Maybe. After a second showing. And calling their cousin who’s “really good with money.”

That’s why pricing and presentation matter now more than ever. If you're a seller, the prep work can’t be half-baked. Your home needs to sparkle, and your agent needs to be on top of every single detail. I can’t tell you how many listings I’ve walked into where the agent didn’t even know what was rented (furnace? hot water tank?), when things were renovated, or worse — didn’t bother to ask.

In this market, seller agents are actually being tested. You can’t just slap a sign on the lawn, pray for a bidding war, and collect your commission. Buyers are cautious, picky, and often looking for reasons not to buy. That means your agent has to do more than smile, nod, and hope. They need a plan, a presentation strategy, and frankly, they need to hustle.

So if you’re thinking of listing, interview your agent. Ask them how they plan to present your home. What’s their marketing strategy? What sets them apart? Are they asking you the right questions — or just trying to land the listing without doing the legwork? Because right now, that legwork matters.

And buyers — we need to talk.

I know the temptation is strong right now to toss out a lowball offer and see what sticks. There’s inventory, there’s uncertainty, and yes, in some cases, there are deals to be had. But let’s be real: this is Toronto, not a fire sale in Guelph or a sleepy suburb where the listing’s been sitting since Halloween.

If you think you're getting $200K off a fairly priced home, you might need a reality check. Sellers aren’t giving things away — unless they’re desperate (and even then, they’re waiting). Sure, you can negotiate. You might even snag a home under asking. But the days of stealing one for pennies on the dollar? That’s fantasy. This is a world-class city, becoming more desirable and more populated every single year. The market may be cautious, but it’s still competitive — and sellers know what they have.

So yes, shop smart, look for value, negotiate with confidence — but be reasonable. The good ones are still getting snapped up.

Why the details matter more than ever

Let me put it this way: if you’re investing hundreds of thousands (or millions) into a property, why wouldn’t you dig into the specifics? In a market like this — cautious, unpredictable, but full of opportunity — zooming in on the right area, home type, features, and conditions is the only responsible way to analyze your investment.

Whether you're selling and want to get top dollar, or buying and trying to stretch your budget wisely, the specifics matter. The right info leads to better decisions — and in this market, that can be the difference between sitting on the sidelines and scoring something truly smart.

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? Click Here to view the official statistics that every Real Estate 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.

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

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

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Inventory is building — especially for freehold homes, which saw a big jump. Sellers are clearly testing the waters now that spring is in full swing, and the options are expanding for buyers. But more choice doesn't always mean more deals — it just means you need to know what you're looking for. The drop in condo townhome listings? Could be a fluke… or could be that owners in that segment are holding out until they see stronger price action.

Looking at each property type specifically,

Detached homes went from 2021 new listings to 2049, a 19.2% increase.

Semi-Detached went from 588 to 624, a 6.12% increase.

Freehold Townhomes went from 218 to 276, a 26.61% increase.

Condo Townhomes went from 522 to 507, a -2.87% increase.

Condo Apartments went from 3700 to 4013, a 8.46% increase.

The shelves are stocked. Active listings are climbing across the board, which means more competition for sellers and more leverage for buyers. This is where presentation, staging, and accurate pricing really shine — the homes that stand out will move. The ones that don’t? They’ll linger. If you’re a seller right now, the difference between "sold in two weeks" and "still waiting at 45 days" often comes down to the prep work.

Specifically,

Detached homes went from 2578 to 3025, a 17.34% increase.

Semi-Detached went from 537 to 618, a 15.08% increase.

Freehold Townhomes went from 263 to 283, a 7.6% increase.

Condo Townhomes went from 760 to 817, a 7.5% increase.

Condo Apartments went from  6327 to 6855,  a 8.35% increase.

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Buyers may be cautious, but they’re not asleep. Sales are up in every category, and that freehold townhome number is wild — a 57% jump month-over-month shows that when the product is right and the price is sharp, the buyers show up. Condos saw modest gains, which tells us affordability is still top of mind, but buyers are also looking for space, lifestyle upgrades, and long-term value. Moral of the story? People are still buying — and when something’s good, it doesn’t last.

Looking at each property type and it's sale from last month to this,

Detached homes went from 728 to 781, a 7.28% increase.

Semi-Detached went from 253 to 277, a 9.49% increase.

Freehold Townhomes went from 71 to 112, a 57.75% increase.

Condo Townhomes went from 134 to 158, a 17.91% increase.

Condo Apartments went from 925 to 973, a 5.19% increase.

This is where it gets spicy. Prices for detached and semi-detached homes are up slightly, while freehold townhomes took a bigger hit — possibly due to sellers adjusting expectations or buyers negotiating harder in that niche. Condos are holding steady, which is actually good news if you’re worried about downward trends. Overall, there’s no crash — just recalibration. The market is trying to find its footing, and pricing it right the first time is the name of the game.

Focusing on the Avg. Price,

Detached homes went from  $1,700,710 to $1,719,937, a 1.13% increase.

Semi-Detached went from  1,266,322 to $1,299,387, a 2.61% increase.

Freehold Townhomes went from $1,297,377 to $1,376,169, a -5.63% decrease.

Condo Townhomes went from  $828,911 to$804,887, a -2.9% decrease.

Condo Apartments went from   $710,724 to $709,905, a -0.12% decrease.

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Homes are sitting longer. No surprise here — more listings mean more competition, and buyers are being thorough, cautious, and picky. This isn’t panic mode; it’s decision fatigue. The only segment that didn’t budge? Condos. Thirty-two days like clockwork for the third straight month. That consistency is a signal in itself — the condo market might not be soaring, but it’s predictable, and that’s not a bad thing in 2025. For everyone else, a longer wait time means pricing too high = tumbleweed showings.

Looking at each property type :

Detached 19 to 22 days (a +15.79% increase).

‍Semi-Detached 14 to 17 days (a +21.43% increase).

‍Freehold Townhome 16 to 23 days (a 43.75% increase).

Condo Townhomes 27 to 30 days (a +11.11% increase).

Condo Apartments didn't change at all for a third consective month and remained at 32 days to sell.

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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.

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