We keep hearing the same thing from friends who aren’t in the business: “is nobody buying real estate anymore? I heard it’s going bad.” That’s the secondhand chatter. It’s not what we’re seeing from the people actually calling us. The clients coming to us right now think the market is close to bottoming, and honestly, the news coverage has started saying the same thing.
Here’s what we’d point to instead. Price is actually down from last year, not just flat. It’s held steady these past few months, but that steadiness is sitting on top of a real drop, so buying today is cheaper than buying a year ago. Factor in that real estate normally climbs 2 to 3% a year just to keep pace with everything else, and it’s cheaper still in real terms. What’s really changed lately is choice, there’s less on the market than last August, though still a manageable amount for the season. Sellers who are listing are staying flexible on price. It’s definitely still a very strong buyer’s market.
Market Overview
| Metric | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| Average Price | $1,022,143 | $993,410 | -3% |
| Sales | 5,211 | 5,057 | -3% |
| New Listings | 14,038 | 12,075 | -14% |
| SNLR (Sales to New Listings) | 37% | 42% | +13% |
Price is down from a year ago, and it’s held roughly at that lower level for months now. Sales are down about where we’d expect for a normal August. New listings pulled back more than that, which is really the story this month. Sellers stayed home a bit more than buyers did.
That gap is why the sales-to-listings ratio moved up even while price sat still. It’s not a dramatic shift. It’s the kind of thing that shows up first, quietly, before anyone notices it in price.
416 vs. 905 Detached: The Big Picture
| Sales | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Detached | 536 | 550 | +3% |
| 905 Detached | 1,875 | 1,849 | -1% |
| New Listings | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Detached | 1,129 | 1,164 | +3% |
| 905 Detached | 5,289 | 4,426 | -16% |
| Price | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Detached | $1,524,066 | $1,525,749 | +0% |
| 905 Detached | $1,251,686 | $1,218,148 | -3% |
We had a client last month deciding between a detached rebuild in the city and one in the 905 that looked cheaper on paper. This table is why we pointed her toward the city. Price in the 416 is actually the one holding its ground year over year here. In the 905, listings pulled way back and price still slipped. That’s not a supply story. That’s softer demand out there, plain and simple.
If you’re weighing where to hold ground-level housing right now, the city is the steadier bet.
416 vs. 905 Detached: The Big Picture
| Sales | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Detached | 536 | 550 | +3% |
| 905 Detached | 1,875 | 1,849 | -1% |
| New Listings | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Detached | 1,129 | 1,164 | +3% |
| 905 Detached | 5,289 | 4,426 | -16% |
| Price | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Detached | $1,524,066 | $1,525,749 | +0% |
| 905 Detached | $1,251,686 | $1,218,148 | -3% |
We had a client last month deciding between a detached rebuild in the city and one in the 905 that looked cheaper on paper. This table is why we pointed her toward the city. Price in the 416 hasn’t budged in a year. In the 905, listings pulled way back and price still slipped. That’s not a supply story. That’s softer demand out there, plain and simple.
If you’re weighing where to hold ground-level housing right now, the city is the steadier bet.
416 City Breakdown
| Sales | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Semi | 157 | 159 | +1% |
| 416 Detached | 536 | 550 | +3% |
| 416 Condo | 890 | 885 | -1% |
| New Listings | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Semi | 266 | 282 | +6% |
| 416 Detached | 1,129 | 1,164 | +3% |
| 416 Condo | 2,654 | 2,303 | -13% |
| Price | Aug 2025 | Aug 2026 | Change |
|---|---|---|---|
| 416 Semi | $1,131,498 | $1,110,639 | -2% |
| 416 Detached | $1,524,066 | $1,525,749 | +0% |
| 416 Condo | $667,660 | $651,648 | -2% |
416 Semi: Our favourite segment right now, and it’s not close. Lower price point, inventory that never sits around, demand that barely dipped, even with price down a touch. This is where we tell multiplex buyers to start looking first.
416 Detached: The one segment that hasn’t given anything back this year. Price is exactly where it was a year ago. Nothing dramatic here, and that’s exactly the point.
416 Condo: Still the segment where buyers hold the cards. Price is down, listings fell, and demand still didn’t move much. If you’re buying a condo, you have room to negotiate.
What The Numbers Mean For Buyers This Month
| Metric | Detached | Semi-Detached | Condo Apartment |
|---|---|---|---|
| Avg Sold Price to List Price (416) | 97% | 100% | 96% |
| Avg Days on Market (416) | 30 | 27 | 39 |
We watch this table with almost every client conversation. Semis go for the closest to asking and sell the fastest, hands down. Condos take the longest and go for the biggest discount. Neither of those is new information to us, but it’s still the clearest confirmation we’ve seen all year.
What we’re watching: If you’re shopping this fall, semis are still where we’d start. Sellers across every segment are staying flexible on price, so don’t be afraid to negotiate, even on a home that looks fairly priced. Run your numbers through our total return calculator before you commit. We’ve had more than one client find a better deal than the listing suggested just by asking.
Ready to Make Your Move?
Every August we get calls from friends and clients worried the market has gone quiet. It hasn’t. It’s just summer, and prices are actually cheaper than they were a year ago, even more so once you account for the pace real estate normally climbs at. Sellers are willing to work with you, and there’s still enough on the market to find something good if you know where to look. We keep pointing people toward 416 semis this month, and for good reason.
Reading a slow month correctly is half the work. We’ve done this enough Augusts to know the difference.
Our brokerage specializes in Toronto multiplexes. We’ll help you find deals, crunch the numbers, and guide you through renovations and management. If you want full support in Toronto multiplex investing, our team can help you:- Find high-potential properties
- Crunch the numbers so you know exactly where you stand
- Coach you through renovations to maximize returns
- Lock in great tenants
- Provide full property management so your investment runs smoothly
