The real estate market across the GTA has shifted quite a bit over the last few years. While prices haven’t crashed, they’ve come down from pandemic-era highs in many communities. According to data from the Toronto Regional Real Estate Board (TRREB), average home prices across the GTA declined slightly year-over-year in spring 2025, while inventory levels rose. This gives buyers more choice and leverage to negotiate.

Interest rates aren’t as low as they were three years ago, with the Bank of Canada holding steady at 2.75 percent in July 2025. But many economists are expecting rate cuts in early 2026 if inflation continues to soften. This means buyers who purchase now may benefit from lower competition and prices, with the ability to refinance at a better rate later.

In the downtown core, detached homes are still unaffordable for most buyers. However, there are still many more affordable options in freehold townhouses and semi-detached homes in the Greater Golden Horseshoe.

Here’s a look at average prices in several GTA markets based on the most recent TRREB data as of aug 2025:

This chart shows some interesting buyer opportunities. In places like Clarington, Brampton, or even Burlington, buyers can find properties in a lower price point, but still stay close to the Toronto area.

The pre-construction condo market in Toronto is struggling in 2025. Many developers are delaying projects or offering incentives to attract buyers. Our team is finding much better value in resale condos in this market, and our recommendation is to give more consideration to existing condos if you want to potentially find a great deal.

This is because pre-construction units are usually priced with future market appreciation in mind. But in a falling market, resale units give buyers immediate possession, less risk, and more negotiation room.

For example, while pre-construction condos in downtown Toronto are still selling for over $1,300+ per square foot, many resale condos are available for closer to $900 per square foot. While in Mississauga near square one area you may find condos selling at an unbelievable price of $600 per square feet. Many 2 Bedrooms + 2 Full bathrooms condo apartment units with 1 Parking and a Locker are selling under and around just for $500K – that is a fantastic deal with great potential for price appreciation after 2-3 years when market revives.  You can also purchase with less down payment.

Across the GTA, listings are staying on the market longer. The number of active listings is up roughly 18 percent year-over-year, and the sales-to-new-listings ratio has slipped to under 50 percent in many markets.

This creates room for negotiation not just on price, but on closing dates, conditions, and even repairs. For buyers who felt pressured to waive conditions or pay a premium several years ago, today’s market offers control and space to make a decision on your purchase.

Interest rates are slightly high as compared to unusual low rates during COVID times , but they’re not expected to stay this high forever. Fixed-rate mortgages are currently around 4.00 % depending on the term, but economists at major banks are predicting rate cuts beginning in the end of 2025 to early of 2026.

For buyers with stable income and good credit, this may be a good time to buy a home below peak market value and refinance in 12 to 18 months. This means if the market rebounds as interest rates drop, today’s buyers will also enjoy an appreciation of their property’s value.

For value-conscious buyers, we suggest these areas:

Offers a mix of older and newer homes, great transit, and resale condos starting around $400,000. Townhomes and semis are up to 20 percent less than in Toronto on average.

Click here to find homes for sale in Mississauga.

A mature city with lake access, GO train service, and growing demand among GTA downsizers. Freehold townhomes under $900K are not uncommon.

Click here to find homes for sale in Burlington.

One of the most affordable freehold markets in the East. With detached homes under $1M and townhouses under $800K, it’s attractive for first-time buyers.

Click here to find homes for sale in Clarington.

A multicultural hub with strong family-oriented communities, Brampton still has some of the lowest prices on the west side of the GTA.

Click here to find homes for sale in Brampton.

Still considered a luxury destination, but many neighbourhoods have resale townhomes that compete in price with Toronto while offering a higher quality of life.

Click here to find homes for sale in Oakville.

Buying in a slower market is not just about price, it’s also about leverage. In competitive markets, buyers often have to make rushed decisions, waive conditions, and settle for compromises. In today’s market, you can take the time to do your due diligence, negotiate effectively, and plan long-term.

This isn’t 2021. The days of crazy bidding wars on every property are behind us, at least for now. 

But this market presents its own kind of opportunity for buyers who are financially ready and looking for a place to call home for the next 5 to 10 years.

Whether it’s a condo in Mississauga, a townhouse in Burlington, or a semi-detached home in Brampton, there are very good deals to be found. It may not feel like the perfect time to buy, but with the right guidance, it could still be the right and very best time for you.

If you’d like to explore whether now is the right time to buy, we’re here to help. RE/MAX Team Paliwal works with buyers across the GTA to help them make smart, well-informed decisions without the pressure. Click here to contact us for a free, no-obligation buyer consultation.