Everybody wants to look ahead and predict what’s coming next. But before we talk about 2026, it’s worth taking a hard look at the year that was. In this final episode of the year, David Fleming breaks down Toronto real estate in 2025 month by month, using real listings, real clients, and real outcomes to explain what actually happened beneath the headlines.
From early optimism and rate cuts, to frozen buyer psychology, collapsing condo sales, and the unraveling of the pre-construction market, this episode offers an honest review of one of the most challenging years Toronto real estate has seen. If you want context, clarity, and perspective, this episode is for you.
In This Episode:
- 1:21 – January: Early optimism, rate cuts, and first warning signs
- 6:04 – February: Prices vs. sales in a frozen market
- 11:48 – March: The Trump effect and condo realities
- 16:25 – April: Lowest sales on record and diverging buyer behaviour
- 22:56 – May: Growing price declines and market pressure builds
- 30:17 – June: Signs of normalization and selective buyer confidence
- 33:46 – July: Condo struggles, strategic moves, and creative selling
- 38:33 – August: Media narratives vs. real market conditions
- 40:50 – September: Fall market activity and standout sales
- 43:44 – October: Prices stabilize, sales fluctuate
- 47:58 – November: Government policy, Bill 60, and housing promises
- 50:59 – December: Final stats and key takeaways
