SEE CHARTS BENEATH THE REFERENCE MAP FOR FULL JANUARY 2026 BUNGALOW STATS BROKEN DOWN BY CITY/REGION:

• Total number of Bungalows Sold on the month
• Average, Median, Mode, Low & High:
  • Asking Price
  • Original Asking Price
  • Sale Price
  • % Listing-to-Selling Price Ratio
  • Property Tax Amounts
  • # of Bedrooms [Above grade level.]
  • # of Bathrooms / Washrooms [Total - all levels.]
  • # of Days on Market [DOM]

Toronto, Ontario, Wednesday January 7th, 2026 - Toronto Regional Real Estate Board (TRREB) Realtors® & Board staff released the monthly stats publication MarketWatch December, 2025 this morning. The report also included a few year-end stats, but... the ‘25 year-as-a-whole update from TRREB isn’t due for a few weeks yet. Sales were down from last December and - not surprisingly - inventory was up. More on that below.

With strong seasonality in the residential real estate market, figures herein are year-over-year [YoY] comparisons unless specifically noted otherwise.

Overall

Total MLS® sales across TRREB's market area were 3,697 homes, down 8.9%, at an average sell price of $1,006,735, down 5.1%. December & January tend to be a couple of the slowest months of the year for residential real estate activity, probably followed only by the Dog Days of summer, generally speaking. 

Folks looking at selling, though, should not necessarily keep their homes off the market waiting for the more active periods: Hand in hand with lower sales volume is lower inventory, so people who are looking: a] Have less selection / fewer listings to choose from, and b] Are probably well-motivated buyers. The caveat there is that it really only applies to mainstream homes; in the case of “unique” homes & luxury properties you should wait for those more active "seasons", but…

November's adjusted sales were 4,997, averaging $1,039,626. Some "industry watchers" love talking about the big difference between November and December but... as noted above, that's the seasonality part. People are busy with other things, the holidays, and the weather often sucks. 🤷‍♂️ Yeah, it's gonna get worse, but… that changeover is - perhaps - the hardest part for a lot of peeps.

Taking a quick look at the year as a whole, TRREB Realtors® reported 62,433 MLS® sales through TRREB's system. While December's sales were down year-over-year 8.9% as noted above, the full-year change was -11.2% - pretty much in line with the big picture. The average selling price of those was $1,067,000, off 4.7% from 2024’s $1,120,241. Newly listed properties for the entire year totaled 186,753, up a little over 10% versus 2024. 

Specific Numbers by Major Home Type

413 sales of Detached homes were reported in December via the MLS® system, up 10.4% - obviously bucking the theme of the rest of the report and the only statistic with a “+” sign on the price & volume front. The average price of those Detached sales was $1,498,079, down 4.5%.

In the balance of the market area - “The 905”, generally - 1,277 Detached homes sold, down 5.1%, at an average of $1,239,882, off an even 7%.

Condo Apartment sales have struggled fiercely of late and December didn’t bring much happy news for sellers there, either. 694 units sold in T.O., off 6%, averaging $663,227, off 7.2%. But... those figures look pretty good compared to "The 905" [area code]: 335 sales, down 20.4%, averaging $555,110, down 9.5%.

When a market shifts hard to the Buyer's Market side, it always comes down to the sellers that are most motivated. They’re the ones who usually set the new benchmark in the neighbourhood in terms of “sales comparables”. Drop the price until it sells because they want or need out. Either one. It's not just financial duress situations. Maybe they think it's going lower. Regardless, “If x sold for that, then y is worth this.” That’s how it works. But... some sellers will - at that point - dig in their heels on unrealistic pricing or even pull their homes off the market in hope of better times. As we saw in the 1990’s those “better times” might be a long way off. Also consider: most folks are selling then buying: If the two are in the same general area then - yeah - your property ain’t worth what it was in 2022… but... neither is the one you’ll be buying. It might be a better idea to just bite the bullet, price to sell, and get on with your shiny new life. I know - that’s a bit simplistic for some situations, but... it's very apt for most… tough pill to swallow, I get it. But...

Quotable from the report… 

Jason Mercer, TRREB Chief Information Officer:
“Reaffirmed trade relationships and large-scale domestic economic development projects will be key for improved home sales moving forward. GTA households must be confident in their employment situation before committing to long-term monthly mortgage payments, even in this more affordable market.”

Daniel Steinfeld, [new] Board President:
“The GTA housing market became more affordable in 2025 as selling prices and mortgage rates trended lower. Improved affordability has set the market up for recovery. Once households are convinced that the economy and labour market are on a solid footing, sales will increase as pent-up demand is satisfied.” 

John DiMichele, Board CEO:
“We urge governments at all levels to take action now to provide tax relief for consumers and help ease the rising cost of living. Families and individuals need financial breathing room so they can afford a home or apartment and meet their basic needs. Fair and responsible tax policies can put more money back into people’s pockets, restore consumer confidence, and rebuild trust in the economy. These actions are essential to support stable households and create an economy that works for everyone.”

In our opinion... Mr. Steinfeld is probably a little optimistic. But... - hey: He’s new!; Mr. Mercer is bang-on.; Mr. DiMichele - who often takes the political route - is also on point. We read [or heard?] something in the past few days that was a brow-raiser to say the least - and the gist here is 100% accurate though the verbiage may not be - and we don’t know the formula / context... used for their calculations & comparisons [& if anyone knows where the quote came from, please do drop a line and we’ll add the attribution!]:

“The only things ahead of housing in terms of taxation are booze and cigarettes.”

Whoa.

On the Inventory Front

“New Listings” were up just 1.8% to 5,299 [5,205 a year ago]... but... - once again - the proof is in the pudding: Everyone who’s paying any attention at all knows there’s a lot of inventory around right now - relatively or otherwise - and it needs to be pointed out that, while “Newly listed” is perhaps the most oft cited inventory figure, it includes homes that were “re-listed” - usually coincident with a “price adjustment” [“reduction”].

We like the “purer” stat - simply, “How many homes are for sale?” That’s the Total Active Listings [TAL] stat. No brainer. There are 17,005 homes for sale [as of month-end]. That’s up 17.5%. Compare that to the ⬆️Frankenumber. No comparison. 

We’re also hearing “rumours” that new home builders who can’t unload homes they built on spec are now renting them out rather than taking a loss on actual sales. See “sellers digging in their heels” part above. Hopefully they're solvent enough to wait it out. The problem remains affordability and there ain’t a whole lot of room to move interest rates, actually. Sure - every bit helps… but…

The other obvious element of that equation is that trades get laid off. That can lead to a spiral; a snowball effect. Peeps unsure of income don’t buy houses. Or much else for that matter.

Anyway… TAL divided by the month’s sales volume gives us an idea of “Forward Inventory”: How long would it take to sell every home currently listed assuming a constant rate of sales? That works out to 5.6 months. Last month it was 4.9 months and 4.5 months a year ago. Those are all on the elevated side by historical standards. Expect it to climb as new listings come on the market in the weeks and months ahead… hope sales volume can keep up, but…

Our ol’ friends - Bungalows / Single Storey homes - with high demand & relatively low supply - continue to be a popular target for the buyers that are out there… especially those in the “mainstream” price ranges [e.g. Median price for an area plus or minus twenty or thirty percent i where the vast majority of activity is].

 If you’re interested we have Bungalow-specific intel / stats here on the Resources->QuickStats page including:

👉Total number of Bungalows Sold on the month
👉Average, Median, Mode, Low & High:
👉Asking Price
👉Original Asking Price
👉Sale Price
👉% Listing-to-Selling Price Ratio
👉Property Tax Amounts
👉# of Bedrooms [Above grade level.]
👉# of Bathrooms / Washrooms [Total - all levels.]
👉# of Days on Market [DOM]

There’s also a map of Median Bungalow prices by Ontario Region [South-Central only at this point] and historical info linked beneath that map. Create an account [sorry - we have to do that to be able to offer that info - them's the rules] and you gain access to historical Bungalow sales info as well.

As always, thanks for bein’ here! Stay warm, and here’s to a healthy, happy and prosperous 2026 [clink!] 🥂🎉…

Andrew.

@JustBungalows @theBB.group

#JustBungalows #theBB.group

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SEE CHARTS BENEATH THE REFERENCE MAP FOR FULL DECEMBER 2025 BUNGALOW STATS BROKEN DOWN BY CITY/REGION:

• Total number of Bungalows Sold on the month
• Average, Median, Mode, Low & High:
  • Asking Price
  • Original Asking Price
  • Sale Price
  • % Listing-to-Selling Price Ratio
  • Property Tax Amounts
  • # of Bedrooms [Above grade level.]
  • # of Bathrooms / Washrooms [Total - all levels.]
  • # of Days on Market [DOM]

Toronto, Ontario, Thursday December 4th, 2025 - MarketWatch, the Toronto Regional Real Estate Board's [TRREB’s] monthly statistical publication, was released today, showing that the recent trend continued in November - namely softer sales and prices combined with - not surprisingly - rising inventory and longer periods of time to sell a home in Southern Ontario via the Board’s MLS® System. See the special note on that at the bottom of this post⬇️, by the way.

As noted in last month’s post here, the weakening of the residential real estate market has persisted and even deepened due largely to lack of confidence and lack of affordability: Even with softer prices, many would-be buyers are still priced out of the market and it appears that a good percentage of those have given up on the idea of home ownership entirely. Even with some encouraging news on the economic front of late, many folks - particularly younger ones - simply can’t afford homes… even at current softer prices. We’ll see how the economy performs over the coming months, but it appears the pendulum isn’t done swinging in the current direction. Good economic news obviously doesn't translate immediately into improved affordability.

The Big Picture

Including all classes, types, and styles the November report showed there were 5,010 sales on the month. That was a drop from last November of nearly 16%. 

The overall average price for November came in at $1,039,458, down 6.4% year-over-year. All figures quoted are year-over-year [YoY] comparisons except where specifically noted otherwise.

Total available homes for sale came in at 24,549 as of month-end. That's a 16.8% rise from last year. "New Listings" were actually down 4% but - in our opinion - that's a skewed number as explained here many times before.

Breaking Down the Stats by Major Home Type

Metro Toronto - “The 416” area code - had an even 600 Detached homes sell on the month, off 11.4%, at an average sell price of $1,545,941, off an even nine percent. The wealth effect is in reverse. The balance of TRREB’s primary market area - “The 905”, generally - saw 1,696 homes go under “firm contract” [e.g. sold unconditionally, but not yet closed necessarily], down 16%, at an average of $1,275,289, down 7.9%.

Condo Apartment sales in Metropolitan T.O. took it on the chin once again, down 21.8% at 880 units averaging $$701,259, pretty flat in that regard at -1.7% - particularly considering the sales volume drop. In the rest of TRREB’s primary market area, 419 units sold, down an almost identical 21.4%. Prices didn’t fare quite so well in the area surrounding “The Big Smoke”, down 8.7% to $583,547.

“Quotable”... from the November Report…

Board Chief Market Analyst Jason Mercer:
“November reports on employment and economic growth were much stronger than expected. The Canadian economy may be weathering trade-related headwinds better than expected. More certainty on the trade front coupled with positive economic impacts of recently announced infrastructure projects could improve homebuyer confidence moving forward.”

TRREB CEO John DiMichele:
“Homebuyers are currently benefitting from a well-supplied resale market. However, as this inventory is absorbed, new construction is required to fill the housing pipeline. It will be key to see projects that bridge the gap between condominium apartments and traditional single-family homes. Home construction results in large economic benefits that would help in today’s economic climate… All three levels of government should offer further incentives to build more homes for Ontarians.”

Board President Elicia Barry-Sproule:
“There are many GTA households who want to take advantage of lower borrowing costs and more favourable selling prices. What they need most is confidence in their long-term employment outlook. Fortunately, we saw encouraging news on jobs and the broader economy in November. If this positive momentum continues, consumer confidence will strengthen, and more people will be in a position to consider purchasing a home in 2026.”

That Inventory Thing

A couple of old “rules of thumb” / adages we’ve mentioned here before come back to mind: “When the average family can no longer afford the average home, something’s gotta give.”, and “If one thinks the price of something they want will be lower tomorrow, they’ll probably wait until tomorrow.”

So between the affordability issue alluded to above and human nature being what it is, inventory continues to rise. 

Total Active Listings as of month-end stood at 24,549, up 16.8%. Yet another win for the Buyers side. And let's not forget it's December. Will the eventual Spring Market see an avalanche of New Listings, or will softer prices convince sellers to remain on the sidelines?

“Forward Inventory” - the number of months of available inventory assuming a constant rate of sales - is calculated by dividing Total Active Listings by Sales Volume. That works out to just shy of five months. Definitely on the high side by historical standards. It was about 4½ months per October’s stats, and about 16 weeks a year ago.

Not shockingly, based on the higher inventory and lower sales volume, it took longer to sell a home this November: 34 Days on Market [DoM] compared to 31 last November - or “9.7% longer. [That’s also referred to as Listing Days on Market or LDoM, just to be clear - as opposed to PDoM.]

Of particular note is the “PDoM” figure: “Property Days on Market” also takes into account homes that came off the market - listings that expired or were terminated, generally - and then re-listed, but only the ones that were re-listed with the same brokerage - which means the “actual” PDOM would be higher still if the sellers who changed brokerages were included… PDoM was up 16.7% to 56 days it took to sell on average versus 48 days a year ago.

~~~~~

Important note from TRREB: “The PropTx MLS® System, of which TRREB is a part, has added a number of new client boards over the last year. Many of these boards’ Members trade within the Greater Toronto Area and broader Greater Golden Horseshoe regions. As a result, historic data have been updated to reflect the addition of these boards’ listings and transactions. This means historic data have changed relative to previously published static reports.” If you’d like more information on these changes, please drop us a line at the link below👇.

~~~~~

Thanks - as always - for stopping by... Hope to see you after Christmas / Chanukah / “The Holidays”... whatever you call them… have a fabulous and safe time. 

Drop us a line anytime with questions, , suggestions, comments -  good, bad or ugly! - using this link.

Andrew.

@JustBungalows @theBB.group
#JustBungalows #theBB.group

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Durham Region  |  Halton Region  |  Peel Region  |  Simcoe County  |  
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Browse "Beyond the GTA" Bungalows by City / Region

Brant & Brantford Township  |  Dufferin County  |  Grey County  |  Guelph & Wellington County  |  Haldimand County  |  Haliburton County |  Hamilton [City]  |  Hastings County  |  Kawartha Lakes  |  Kitchener-Waterloo & Cambridge  |  Muskoka District |  Niagara Region  |  Northumberland County  |  Parry Sound District  |  Peterborough City & County | Prince Edward County

SEE CHARTS BENEATH THE REFERENCE MAP FOR FULL NOVEMBER 2025 BUNGALOW STATS BROKEN DOWN BY CITY/REGION:

• Total number of Bungalows Sold on the month
• Average, Median, Mode, Low & High:
  • Asking Price
  • Original Asking Price
  • Sale Price
  • % Listing-to-Selling Price Ratio
  • Property Tax Amounts
  • # of Bedrooms [Above grade level.]
  • # of Bathrooms / Washrooms [Total - all levels.]
  • # of Days on Market [DOM]

Toronto, Ontario, Wednesday November 5, 2025 - “MarketWatch”, The Toronto Regional Real Estate Board’s [TRREB] monthly MLS® residential real estate market stats update for TRREB’s primary market area - generally Metropolitan Toronto, the GTA [Greater Toronto Area], and the “Greater Golden Horseshoe” region of South-Central Ontario - came out today for October showing a continuation of the recent trend, namely a softening in the sale price area and an increase in inventory / available listings area… but with significant weakening compared to the year-earlier report: Significantly lower sales volume & average price.

The year-earlier [2024] September - October periods reported sales of 4,996 and 6,658 respectively. And that October total was a 44.4% jump over October 2023 volume. All in all, the weakening market trend has gained momentum - at least in the short-to-intermediate term. Is there anything on the horizon to moderate / reverse that? Those on the Buyer side of the market hope not… as long as interest rates stay down - which is likely.

On the bigger picture “Economic Indicators” front, here are the stats for last month [‘25-10] versus the year-earlier period [‘24-10]:

• “Real GDP Growth”: -1.6% vs +2.1%
• “Inflation (Yr./Yr. CPI Growth)”: +2.4% vs +1.6%
• “BofC Overnight Rate”: 2.3% vs 3.8%
• “Prime Rate”: 4.7% vs 6%
• “5-year mortgage rate”: 6.09% vs 6.49%

Overall

TRREB’s October report - including all home classes [Freehold, Condo, Co-Op…], types [Detached, Attached / Townhome, Semi-Detached…] & styles [Bungalow / One Storey, Split-Level, 2 Storey…], showed 6,138 sales in October, down 9.5% from last October, at an overall average selling price of $1,054,372, down 7.2%.

“New” listings were relatively flat; overall inventory [Total “Active Listings”] was - once again - significantly higher. That latter stat is the much more relevant one in my opinion. More on Inventory below.

Please note that all stats referenced are year-over-year [YoY] comparisons unless specifically noted otherwise.

A Glance at the Numbers by “Major Home Type”

In Metro Toronto, 747 Detached homes sold last month, down 10.4%, averaging a sale price of $1,619,047, off 9.1%. In the balance of TRREB’s market area, 2,109 homes sold in the Detached group, down 11.2%, averaging $1,262,161, off 6.6%.

Condo Apartment sales in T.O. - and bear in mind these figures don’t generally include new units but are MLS®-only - which means predominantly [but not solely] resale - came in at 1,072, down an even eight percent, at an average of $699,241, down 2.7%. In the rest of the area, 486 units went under “firm” sale contract, down 16.9%, averaging $574,111, down 10.4%. 

There’s been much attention of late on the saturated state of the Condominium market in terms of inventory… that had to bubble into current stats at some point… and it’s highly unlikely that trend has exhausted.

Quoting from the Report:

Board Chief Market Analyst Jason Mercer:
“The monthly mortgage payment for an average-priced GTA home continued to trend lower in October, benefitting from both lower borrowing costs, and lower selling prices. This means more buyers can now afford to purchase a home that meets their housing needs. Once we have more certainty on the economic front, including trade with the U.S. and China, home sales should increase.”

TRREB CEO John DiMichele:
“Housing is essential economic infrastructure. As the population continues to grow, innovation and private capital are required to accelerate new construction across all housing types. Governments can help by modernizing tax rules, cutting buyer costs, and ending exclusionary zoning. Working together, we can rebuild confidence, create jobs, and deliver the homes Ontarians need. We have to act now.”

Board President Elicia Barry-Sproule:
“Buyers who are confident in their employment situation and ability to make their mortgage payments over the long term are benefitting from affordable housing market conditions relative to the past few years. However, many intending homebuyers remain on the sidelines due to uncertainty about their economic future.”

Speaking of Inventory…

The all-important “Total Active Listings” (TAL) - as noted above a far more relevant; “pure”... statistic in our opinion in that it doesn’t “magnify” home listings “expired / cancelled / terminated… and then re-listed” which the “New Listings” stat does include [as “new”] - remained elevated on both year-over-year and historical bases. TAL stood at 27,808 homes for sale as of October month-end, up 17.2% YoY.

JFTR, “New Listings” were up 2.7% to 16,069.

“Forward Inventory" refers to the length of time it would take to sell all homes currently listed assuming sales volume remains constant going forward [maybe a big assumption right now]. Dividing TAL [see above] by the sales volume total [27,808 / 6,138] we get about four-and-one-half months of inventory. Still positive news for prospective buyers; we’ll see to what degree it impacts prices - obviously.

Single-Storey homes throughout the market area - and beyond - continue to be in high demand and relatively short supply. We’ve often noted that the “Matures / Empty Nesters” cohort were the biggest drivers of that - understandably - but we’re hearing more and more that Bungalows are popular with a broader and broader “audience”. Generally more modest in size, easier to look after, and often on decent-sized lots… what’s not to like?!

Thank-you so much for stopping by. Drop a line anytime with your comments, questions, requests - good, bad or ugly…!

Andrew.
@JustBungalows @theBB.group
#JustBungalows #theBB.group

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Brant & Brantford Township  |  Dufferin County  |  Grey County  |  Guelph & Wellington County  |  Haldimand County  |  Haliburton County |  Hamilton [City]  |  Hastings County  |  Kawartha Lakes  |  Kitchener-Waterloo & Cambridge  |  Muskoka District |  Niagara Region  |  Northumberland County  |  Parry Sound District  |  Peterborough City & County | Prince Edward County

SEE CHARTS BENEATH THE REFERENCE MAP FOR FULL OCTOBER 2025 BUNGALOW STATS BROKEN DOWN BY CITY/REGION:

• Total number of Bungalows Sold on the month
• Average, Median, Mode, Low & High:
  • Asking Price
  • Original Asking Price
  • Sale Price
  • % Listing-to-Selling Price Ratio
  • Property Tax Amounts
  • # of Bedrooms [Above grade level.]
  • # of Bathrooms / Washrooms [Total - all levels.]
  • # of Days on Market [DOM]

Toronto, Ontario, Friday October 3, 2025 - Elicia Barry-Sproule, president of the Toronto Regional Real Estate Board [TRREB] today released the residential real estate monthly statistical update “MarketWatch” for September Confirming a decent pop in sales volume compared to last September, but softer selling prices. Inventory continues to climb from what was already an elevated level.

The Bank of Canada announcing a quarter-point rate cut mid-month obviously helped out on the sales volume side. We’ll see if sales volume continues to rise over the coming months and what impact that may have on prices, particularly in light of the inventory levels. 

Interestingly, it was exactly two years ago when we added the byline "Crisis? What crisis?" to our blog post at that time. We were alluding to the buzzword of the day - at least in terms of local residential real estate - "housing crisis". We were always of the mind that what we had was an affordability crisis as opposed to an inventory crisis. At that point in time, we had Total Active Listings at 18,912 homes, and that was a 40% increase from the prior September… which, in turn, had seen a 47% increase in inventory over September 2021 When available listings totaled just 9,191. That we described as "chronic," but not necessarily because we "didn't have enough houses". There were a lot of other factors involved.  

Overall

…meaning all home classes, types and styles in the entirety of TRREB’s market area, 5,592 homes “sold firm” on the month - meaning “unconditionally”. That represented a respectable 8.5% increase. Overall, the average sale price was reported as $1,059,377 - a 4.7% decline… more good news for the folks on the Buyer side. Due to the strong seasonality of the residential real estate market, all figures reported herein are year-over-year comparisons unless specifically stated otherwise.

Prices across the board had a minus sign in front of them. The least amount of price decline was seen in Metro Toronto. The increase in sales volume was seen virtually across the board - the sole exception being sales of Townhomes in the "905" area around Toronto. The latter was off 3.2%. Conversely, Toronto proper saw a nearly 40% increase in the sales volume of Townhomes. 

Sales of condominium apartments were stronger across the board - though prices were weaker in keeping with the overall trend. 

Specific Figures by Home Type…

Metro Toronto saw 675 homes sell in the Detached “group”, up nicely at +12.5%, and an average sale price of $1,686,013, almost unchanged at -0.8%. The rest of the area - the Greater Toronto Area and some pieces on its periphery - had 1,986 Detached homes go under contract, up 8.6%, at an average sell price of $1,247,895, down 7.2%.

Sales of Condo Apartments in Toronto totalled 940 units, up 7.4%, averaging $681,115, off 3.8%. In the rest of the area 497 units sold, up 6.9%, at an average of $606,275 which was 5.4% lower.

Quoting from the Report:

Board Chief Market Analyst Jason Mercer:
“While home sales have improved over the past year, they still remain below normal levels relative to the number of households in the GTA. Two more 25-basis-point interest rate cuts by the Bank of Canada would see monthly mortgage payments move more in line with homebuyers’ average incomes, further spurring home sales and related economic activity.”

Board President Elicia Barry-Sproule:
“The Bank of Canada’s September interest rate cut was welcome news for homebuyers. With lower borrowing costs, more households are now able to afford monthly mortgage payments on a home that meets their needs. Increased home purchases will also stimulate the economy through housing-related spin-off spending helping to offset the impact of ongoing trade challenges.”

On Inventory

At first glance, it seems contrary to "Economics 101" that sales volume would increase as prices decline… Until you look at inventory. Total Active Listings as of month-end came in at 29,394, up 18.9%. "New Listings" were up 3.9%. We give more weight to the prior figure simply because the latter figure also includes listings that were terminated or expired and then re-listed… meaning that some percentage of those are not really "new" at all. 

“Forward Inventory” - a relatively crude indicator of where we are in terms of available inventory - is calculated by dividing "Total Active Listings" by the month's "Total Sales” [volume] to give us an idea of how long it would take to clear all current listings in the form of sales given a constant rate of sales volume. That works out to about 5¼ months of inventory - on the high side, particularly given the relatively low sale volume. 

What's most popular right now are homes in the mainstream and lower price points and - as they have been for a very long time and as indicated by the activity on this website - Bungalows / Single Storey homes across the market area are in high demand and comparatively low supply. 

Not surprisingly, homes sold "22.2% slower" on the month at 33 days on the market on average before selling vs 27 last September. 

As always, thank you for stopping by. What a beautiful stretch of weather we've had. Time to get the place ready for winter, and looking forward to a Happy Hallowe’en! 🎃🧙

Andrew.

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SEE CHARTS BENEATH THE REFERENCE MAP FOR FULL SEPTEMBER 2025 BUNGALOW STATS BROKEN DOWN BY CITY/REGION:

• Total number of Bungalows Sold on the month
• Average, Median, Mode, Low & High:
  • Asking Price
  • Original Asking Price
  • Sale Price
  • % Listing-to-Selling Price Ratio
  • Property Tax Amounts
  • # of Bedrooms [Above grade level.]
  • # of Bathrooms / Washrooms [Total - all levels.]
  • # of Days on Market [DOM]

Greater Toronto, Ontario - Thursday August 6th, 2025: The Toronto Regional Real Estate Board’s [TRREB] monthly residential MLS® statistical update, MarketWatch, was released by Board President Elechia Barry-Sproule this morning showing a continuation of the trend we've seen over the past couple of years: prices continue to slip while inventory builds. 

The report tracks - generally, due to the strong seasonality of the residential real estate market - year-over-year activity as reported by member Realtors® through TRREB’s MLS® [Multiple Listing Service] system. “All figures herein are year-over-year comparisons unless otherwise noted.”

Looking at Metro Toronto, the Greater Toronto Area, and its peripheral portions of South-Central Ontario that are included in TRREB’s market area, we asked "AI" to do a quick comparison of the generally accepted peak in housing market activity being February 2022 versus the August 2025 stats. Here's a quick synopsis of what we got back from the bot 🤖🤖🤖 [Google Gemini - just for “transparency”... & edited slightly by a human - just for clarity 😉]:

“The period from the February 2022 peak to August 2025 saw a dramatic correction in the Toronto and GTA residential market, characterized by significant drops in sales and prices, paired with a massive surge in inventory. Specifically focusing on the low-rise segment (Detached, Semi-Detached, and Townhouse), sales volume plunged by nearly 39.6%, while average prices for these core home types fell between 23.3% and 27.9%. Overall market activity dropped sharply, with total sales declining by approximately 42.8% and the composite average price decreasing by 23.4%. The most substantial shift, however, was in market availability, as Active Listings soared by a staggering 293.6%, fundamentally changing the market from a severe seller's advantage in 2022 to one heavily weighted with inventory by mid-2025.”

While our primary focus here is specifically on the Bungalow / Single Storey homes market, unfortunately TRREB does not generally break out statistics by style of home. We do offer a Bungalow-specific month-by-month summary in our Bungalow “QuickStats” market update. 

Overall

Residential sales Volume on the month totalled 5,211. That's actually a 2.3% increase versus last August and includes - just to be clear - all Classes, Types, & Styles of home. “Classes” meaning Freehold, Condo, Co-Operative, Land Lease, etc. “Types” would be Detached, Townhome, Apartment, etc. “Style” is more about architecture, as in 2-Storey, Bungalow / 1-Storey, Backsplit...

Sales volume stats were mixed with the Detached group showing the most strength by this metric. Freehold Townhomes were up 18% YoY in Toronto “proper’. Average sale prices on the other hand were - literally down across the board.

The Numbers by Home Type

In “The 416” - Metropolitan Toronto - 536 Detached homes “sold firm” [e.g. unconditionally], up 10.5%, at an average of $1,524,066, down an even ten percent. Ouch. Unless you’re on the “Buy side”, of course. “The 905" - the balance of the market area, very generally speaking - 1,875 “Detacheds” were reported sold, up 4.7%, at an average of $1,251,686, off 6.9%.

Condo Apartment sales were down in all TRREB’s market areas while prices were “flat-to-down”: Toronto itself saw 890 “Condos” sell, off 3.4%, at an average of $667,660, off two percent. In the balance of the area 479 sold, down 7.7%, averaging $594,881, down 10.6%. Hmmm…

“Quoting…” from the Report…

TRREB Chief Market Analyst Jason Mercer:
“A household earning the average income in the GTA is still finding it challenging to afford the monthly mortgage payment associated with the purchase of an average priced home. This is even with lower borrowing costs and selling prices over the past year. Further relief in borrowing costs would see an increased number of buyers move off the sidelines to take advantage of today's well-supplied market.”

TRREB CEO John DiMichele:
“New, large scale infrastructure projects, including affordable housing, public transit, ports and shipbuilding will be important for sustaining Canada’s economic sustainability in the medium-to-long term. However, in the short term, spurring consumer spending on large ticket items like housing could lead recovery, as it has in previous economic cycles.”

TRREB President President Elechia Barry-Sproule:
“Compared to last year, we have seen a modest increase in home sales over the summer. With the economy slowing and inflation under control, additional interest rate cuts by the Bank of Canada could help offset the impact of tariffs. Greater affordability would not only support more home sales but also generate significant economic spin-off benefits.”

On Inven⬆️ory…

Homes “newly listed” in August totalled 14,038, up 9.4%. “Total Active Listings” - the more relevant inventory statistic as we’ve always maintained [since it doesn’t take into account “cancelled / re-listed” listings, many of which are included in “Newly Listings”] - as of month-end were 27,495. That’s up 22.4% YoY. At month-end February 2022 that total was 6,985, just for the record. Nearly 400% higher… on “almost” half the sales volume [9,097 / 5,211]

Average “Listing Days on Market” was 33 - meaning, effectively, homes took “about 14% longer to sell”. “Property Days on Market” was 49. That latter stat includes time on market where a home listing was terminated and then reactivated - BUT it does not include those if the new listing was with a different broker. Again - just for the record… and context - those Days on Market numbers were nine and eleven respectively in February ‘22.

“Forward Inventory” gives us an idea of how much inventory we have: How long would it take to sell all current listings given a constant rate of sales volume. Calculated by taking “Total Active Listings” and dividing by the month’s “Sales”. That works out to about five-and-one-quarter months. Over 22 weeks. That’s on the long side compared to historical standards. Apologies for the repeated reference to “‘22-02”, but the differences are stark… a hard correction… the average time to sell was “ .768 of a month - virtually unchanged YoY” [meaning versus Feb. ‘21]. About 3.3 weeks. On average.

Well, “We live in interesting times”, as the “quote” goes. Not gonna attribute that as it’s very much under debate as to who actually coined it. Regardless - forward we go … As always, thanks for coming by. Get outside & enjoy the weather!... and start the prep for the colder version…🌞😎❄️

Andrew for theBB.group and JustBungalows.com

#JustBungalows

#theBB.group

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