☀️ Toronto Real Estate Summer Check-In 2025

There’s something about a Toronto summer that just hits differently. The Jays are making us nervous and hopeful at the same time, patios are spilling over with cold drinks and loud conversations, and the city feels like it’s running on pure sunshine.

Historically though, July and August are always the slowest months in Toronto real estate. Families are away at cottages, buyers take a breather, and sellers sometimes hold off until the fall rush. This year has been no exception, and the numbers reflect that slowdown.

But here’s the thing: while things feel quieter, it’s actually the perfect time to start with a mid-year check-in. Instead of just taking the headlines at face value, let’s do a general health check by first comparing today’s market to last year (Year-over-Year). Then we’ll look at how 2025 has unfolded month by month so far. This way, we’ll see both the big picture and the play-by-play, giving us a better sense of where things might be headed as we move into fall.”

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📊 Year-over-Year: Looking Back vs. Now

So, how does this summer really stack up against last summer? The short answer: it depends on the property type. Some categories have held their ground, others have softened, and each tells us something different about the mindset of Toronto buyers right now.

🏡 Detached Homes

Detached homes continue to be the “dream home” for many buyers, and this year that dream has gotten a little more competitive. With the new mortgage insurance cap raised to $1.5M, more buyers are able to stretch into detached territory. That’s helped prices hold firm compared to last summer, even with the overall market feeling softer.

But detached isn’t immune. Higher borrowing costs still play a role, and we’ve seen buyers hesitate at the very top end. The sweet spot has been those family-friendly homes under $1.5M, where demand feels the strongest.

🏘 Semi-Detached Homes

Semis are a classic Toronto compromise: more space and privacy than a condo, but without the full detached price tag. Year-over-year, they’ve been one of the more resilient segments. Families still see them as a smart choice, especially in central neighbourhoods where detached homes are simply out of reach.

That said, the competition isn’t as fierce as it was during peak pandemic years. Buyers have more time to make decisions, and well-priced semis are moving — while overpriced ones sit.

🏠 Townhomes

Townhomes are holding steady compared to last year. They’ve always been the “middle child” of Toronto real estate: more space than a condo, less maintenance than a detached. For buyers who need room to grow but don’t want to stretch into detached pricing, they remain a strong option.

What’s interesting is how demand shifts depending on location. Freehold townhomes in established neighbourhoods are still in demand, but stacked and condo-style townhomes are more sensitive to price — especially when monthly fees come into play.

🏙 Condos

Condos are where the most action has been. Year-over-year, they’ve stayed stable, which is impressive given everything the market has thrown at us. Why? Affordability (at least compared to freeholds) and a steady stream of demand from first-time buyers, investors, and renters looking to transition into ownership.

The downtown core in particular continues to attract buyers who value convenience, even as carrying costs stay high. The resale condo market isn’t surging, but it’s far from collapsing — more like treading water and waiting for the next wave.

If the last few months felt uneven, that’s normal. Toronto’s market has a rhythm, with clear ebbs and flows that repeat every year. The best way to understand it is to step back from the week to week chatter and review January to July together. Here’s the mid year check in :

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📆 2025 So Far: January to July (416)

Summer slows everything down, which makes it the perfect time to zoom out and see how the year has been shaping up. Let’s look at January through July for the City of Toronto, then layer in what it means by property type.

As useful as a June to July snapshot is, it only tells part of the story. Summer always messes with the rhythm, cottages, vacations, slower weekends. To really see where the market stands, let’s zoom out, January to July, and do a true mid year check in for the 416.

🏡 Detached (Freehold)

Detached started 2025 with decent energy as rate cut optimism met pent up move up demand. Activity built through spring, then flattened into July, which is a typical summer pattern. Pricing has been more range bound than rallying, and buyers are staying value focused. Good houses still move, reachy list prices get ignored. The sub 1.6M band has been the sweet spot all year.

🏘️ Semi-Detached (Freehold)

Semis are the practical family pick in the core. Year to date, sales held up better than the headlines suggest, but buyers are choosy about renovations, lot, and school district. Prices have been disciplined, not crashing, not sprinting, and well priced semis continue to sell within a few weeks. The big tell in September will be the speed of re engagement once vacations end.

🏠 Townhomes (blended view)

Townhomes sit in that middle lane, more space than a condo, less commitment than a detached. The chart combines freehold and condo townhomes, so think of it as a blended read. Through 2025 the line has been steady, a climb through spring, softer into July, classic summer ebb. Freehold towns often pull the average price up, condo towns add volume but stay fee sensitive, which keeps pricing disciplined. Buyers will stretch a little for turnkey, outdoor space, parking, and walkable pockets, but value still wins. Heading into fall, expect renewed interest from condo owners looking for that extra bedroom and a bit of backyard without jumping all the way to detached.

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🏙️ Condo Apartments

Condos carry a big share of 416 transactions in 2025, not because they are flying, but because they are the entry point. Pricing has been sideways to slightly lower year to date, which is helping absorption on the right listings. Light, layout, and location are doing the heavy lifting. Investor activity is cautious, end user demand is driving most of the stable sales downtown and along transit.

📝 2025 Year-to-Date Recap

Since January, Toronto’s housing market has been on a bit of a ride. Detached homes came out of the gate strong in the spring, climbing toward the $1.6M mark, but by July they eased back slightly below where they were last year. Semi-detached homes told a similar story, with some momentum in the spring but still ending a little softer compared to 2024.

Townhomes, both freehold and condo-style, showed steady demand but leaned toward affordability, with prices slipping compared to last year. Condo apartments, always the biggest slice of Toronto’s housing pie, stayed the most budget-friendly option but also saw a modest year-over-year dip.

The big picture? Well-established neighbourhoods are still holding their value and drawing plenty of interest. Homes in those areas continue to move quickly, sometimes with multiple buyers in the mix. The real opportunities right now are in the “yet-to-be-discovered” neighbourhoods, where buyers have room to negotiate better terms and prices.

👉 Curious about how these numbers apply to your situation? Feel free to reach out. I can put together a free Comparative Market Analysis (CMA) for your home, answer your buying questions, or just chat about what these shifts mean for your next move.

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

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