November brought a familiar theme across the Greater Toronto Area: steadier pricing alongside softer sales activity. Across Toronto, Mississauga, Oakville, and Burlington, one of the most consistent trends was a decline in sales volume across nearly all home types, reflecting continued buyer caution as the year draws to a close.
While borrowing costs have improved and resale inventory remains well supplied, many buyers continued to pause in November, weighing economic signals and long-term employment confidence. This dynamic resulted in fewer transactions month over month and year over year, even as pricing in several segments showed signs of stabilization. On a seasonally adjusted basis, both average prices and the MLS® HPI Composite remained relatively close to October levels, reinforcing the sense of a market that is holding steady rather than accelerating.
Encouragingly, stronger-than-expected employment and economic data emerged toward the end of the month, offering early signs of improving confidence. If this momentum continues, conditions may support increased buyer engagement as we move into 2026. For now, November’s activity underscores a market defined by choice, patience, and opportunity—particularly for buyers prepared to act strategically, and sellers who align pricing and presentation with current conditions.
Below are our key takeaways on the month-over-month activity between October and November 2025.
◼️ Toronto average detached home price declined by $75,000 month over month. More notably, there were 147 fewer detached homes sold during the same period. Semi-detached average pricing dipped slightly by $35,000, alongside 55 fewer sales. The average price of a freehold townhouse decreased by $50,000, while sales activity increased modestly. Condo townhouse values remained flat, though fewer units sold. Condo apartment prices also held steady, with 190 fewer units sold. Keep in mind that September saw a significant increase in condo apartment sales; the softer November activity brought sales volumes back in line with August 2025, which is typically a slower month in real estate.
◼️ Mississauga average detached home prices remained essentially flat, edging up by $35,000 month over month, with 70 fewer homes sold. Among all areas in this report, Mississauga experienced the smallest year-over-year variance for detached homes, down just 2.2%. Semi-detached pricing also remained largely unchanged from the prior month, with slightly fewer sales. A similar trend was seen across freehold townhouses, condo townhouses, and condo apartments, where average prices softened marginally month over month alongside reduced sales activity, reflecting overall market conditions. On a positive note, average home values appear to have stabilized and are expected to remain relatively flat as we close out the year.
◼️ Oakville average detached home prices rose $110,000 month over month, rebounding from October’s dip in value. Sales activity remained steady, with only a modest decline of 26 fewer homes sold compared to the prior month. Year over year, the average detached home price declined by 11.5% in November, presenting a compelling opportunity for buyers looking to size up to a detached home in Oakville. Semi-detached average pricing declined by $120,000; however, only four properties sold in this category, indicating heightened price sensitivity. Freehold townhouse prices eased by $50,000 month over month, while sales volume increased. Condo townhouses experienced a notable decline in average pricing, down $100,000, with 25% fewer sales. Condo apartment pricing remained flat month over month, with a significant year-over-year decline of 23%.
◼️ Burlington average detached home prices increased by $90,000 month over month, with 29 fewer homes sold, representing a 30% decline in sales volume. Year-over-year pricing remained consistent, reflecting an approximate 7.5% decline. Semi-detached homes saw a substantial month-over-month price decrease of $140,000, with only five homes sold; interestingly, this still represented a 7.9% increase compared to the same period last year. Freehold townhouse pricing declined by $95,000 month over month, with just 11 homes sold. Condo townhouse prices remained relatively flat, while sales volume dropped by nearly 50%. Condo apartments posted a notable increase in average price, rising $110,000 month over month and reflecting a 4.6% year-over-year gain—a welcome improvement within an otherwise challenging segment of the market.
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