As the final leaves fall across Toronto, so do housing prices. The city’s real estate market, once red-hot, is now in a strategic slowdown. According to Royal LePage, home prices in Toronto are projected to decline by 3% by the end of 2025, a reflection of high interest rates, cautious buyer behaviour, and a shrinking pool of qualified purchasers. While sales activity is slowly recovering from earlier lows, the gap between supply and demand remains wide. 

For buyers and sellers, November isn’t just about weathering the chill—it’s about mastering the art of negotiation in a market that rewards precision over speed. 

For Buyers: Leverage the Shift 

1. Target Motivated Sellers 

• With many homeowners eager—or even desperate—to sell, buyers have regained leverage. 
• Look for listings with multiple price reductions or long days on market. These signal flexibility. 

2. Negotiate Beyond the Price Tag 

• Ask for closing cost coverage, flexible possession dates, or included upgrades. 
• Sellers are more likely to agree to non-price concessions to preserve their asking price. 

3. Use Market Data to Justify Offers 

• Detached homes and condos are seeing the steepest declines. Use Royal LePage’s quarterly reports to support your offer strategy. 
• A well-researched bid shows seriousness and can soften resistance. 

4. Be Patient—but Prepared 

• With fewer bidding wars, buyers can take time to evaluate options. But when the right property appears, act decisively. 
• Pre-approval and a strong deposit still matter in signalling credibility. 

For Sellers: Adapt to Stay Competitive 

1. Price for Today’s Market 

• Overpricing is a fast track to stagnation. Royal LePage notes that Toronto’s market hasn’t rebounded as expected, despite declining interest rates. 
• Consider pricing just below market to generate urgency and attract serious buyers. 

2. Invest in Presentation 

• In a slower market, visuals matter. Professional staging, high-resolution photography, and compelling descriptions are essential. 
• Highlight features that align with buyer priorities—energy efficiency, remote work setups, and proximity to transit. 

3. Offer Incentives 

• Cover part of the buyer’s closing costs, include home warranties, or offer flexible terms. 
• These perks can make your listing stand out in a crowded field. 

4. Stay Open to Creative Offers 

• Lease-to-own, vendor take-back mortgages, or extended conditional periods may become more common. 
• Consult your agent or lawyer to evaluate these options—some may unlock hidden value. 

Where Buyers and Sellers Meet 

Toronto’s November market is a negotiation playground. Buyers have regained leverage, but sellers still hold value—if they’re willing to adapt. The key isn’t confrontation, it’s collaboration. Both sides benefit from transparency, flexibility, and a clear-eyed view of the market’s realities. 

With recessionary pressures, high interest rates, and a shrinking pool of buyers, the market is no longer about speed—it’s about precision. Whether you're buying your first condo or selling a family home, November is your moment to negotiate smarter, not harder.