This is for educational purposes only; it does not guarantee future performance or serve as financial or tax advice.
Wondering where Toronto real estate is headed this fall? Here’s what investors need to know: more listings, weaker prices, and a window for smart multiplex buyers to land a deal. We break down what to expect this September and how to make the most of it.
What’s Happening in Toronto Real Estate This Fall 2025?
As we wrap up summer, Toronto’s real estate market is in its usual seasonal lull. Fewer listings, fewer buyers. But come September, sellers are expected to flood the market, hoping the fall will bring better prices. The question is: will it?
History says no. September almost always sees a spike in listings, but buyer demand doesn’t keep up. That imbalance – more sellers than buyers – has kept prices flat all year, and it’s likely to continue. In fact, the sales-to-new-listings ratio tends to drop in September, which means price growth usually stalls or even softens.
How Fall Has Played Out in Recent Years
In the hot markets of 2020 and 2021, prices held steady through the fall. But since interest rates started rising in 2022, the trend has changed. Prices have typically dipped from September through to the end of the year. That pattern is expected to repeat in 2025.
This fall, buyers can expect more listings, more selection, and more competition among sellers. That’s great news if you’re looking to invest in a multiplex or need more leverage at the negotiation table.
Will a Rate Cut Change Anything? Probably Not.
The next Bank of Canada rate announcement lands September 17. There might be a 25bps cut, but don’t expect it to shake things up. Half the Big 5 banks aren’t even predicting a cut. And even if it happens, it’s not enough to light a fire under prices — especially with a flood of new inventory hitting the market.
Unless demand suddenly surges (which is unlikely right now), we could see further softening in prices — especially on stale listings.
| Bank | Now | Sep 2025 | Year-End 2025 | Year-End 2026 |
|---|---|---|---|---|
| TD (Updated Jun 2025) | 2.75% | 2.25% | 2.25% | 2.25% |
| CIBC (Updated Jul 2025) | 2.75% | 2.50% | 2.25% | 2.25% |
| BMO (Updated Jul 2025) | 2.75% | 2.50% | 2.25% | 2.00% |
| RBC (Updated Jul 2025) | 2.75% | 2.75% | 2.75% | 2.75% |
| Scotia (Updated Jul 2025) | 2.75% | 2.75% | 2.75% | 2.50% |
Don’t Expect a Crash, But Do Expect Opportunity
Let’s be clear: a market crash is unlikely. Since 2022, Toronto prices have stayed in a narrow range. Small ups, small downs. No big swings. That stability actually works in your favour as an investor.
Right now, you’ve got soft prices, lots of supply, and lower interest rates than last year. It’s one of the best environments we’ve seen recently for picking up a multiplex at a good price.
Real Deal Example: A Cash-Flowing Multiplex in Toronto
Here’s a real example that crossed our desk: a triplex bought for $1.1M with a 3-bed, 2-bed, and 1-bed. It’s cash flowing over $2,000/month right now. Plus, there’s a garage out back that could be converted into a garden suite or laneway house to push cash flows and returns even higher.
These kinds of properties aren’t unicorns — they exist, but you need to know what to look for.
Need Help Finding the Right Toronto Multiplex Investment?
That’s where we come in. We’re a Toronto-based real estate brokerage that specializes in investment properties. From finding and analyzing deals to helping with renovations and leasing, we guide you through the entire process.
Here’s what it looks like when you work with Elevate:
- Strategy Call: We get clear on your goals and walk you through how to invest smart in Toronto. Straight talk, no fluff.
- Property Search & Purchase: We find the right property that fits your plan — whether it’s turnkey or value-add.
- Renovation Guidance: Need renos? We’ve got trusted contractors, and we’ll coach you through the process so you don’t get burned.
- Leasing & Management: Want help renting it out or managing it long-term? Our team’s got that covered too.
Want to see what’s possible for you? Book a strategy session with us here.
What Toronto Real Estate Investment Is Right For You?
Check out our complete Toronto real estate investment guide for all the details and real-life examples. If you’re ready to dive in, just book a call with us!
