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Are Sellers Quitting? The Truth Behind Toronto's 14% Listings Drop

Daniel Foch

15,905 views

Toronto Real Estate Is Sliding: Prices Down 5.1% as Listings Drop Faster Than Sales (TREB Sept 2026)

Toronto real estate is weakening, with prices down 5.1% year over year, the benchmark index down 4.7%, and sales down 9% in September, while new listings fell even more (down 14.4%), suggesting sellers are leaving the market faster than buyers. The video questions TREB’s “pent-up demand” narrative, arguing pent-up supply may be more important as owners delay selling until spring or better pricing, while affordability and rising rates limit buyer capacity. Days on market are roughly flat and the sale-to-list ratio is about 98%, indicating a more “normal” pricing environment despite depressed volume. Condo prices lead declines due to supply overhang, higher fees, and reduced investor demand, with 905 condos down about 12%. Report link: https://www.homiesai.com/research/trr... .

00:00 Toronto Market Slide
00:51 Pent Up Demand Debate
02:17 Tools and Report Links
02:54 September Snapshot
05:07 Seasonality and Inventory
06:40 Why Sellers Pull Listings
09:32 Prices and Market Power
10:12 By Property Type
10:49 Condo Overhang Explained
12:55 Median vs Average Prices
13:39 416 vs 905 Breakdown
14:13 Viewer Questions and Wrap Up

20 Comments

@JaxWax-z8e 3 days ago

Tough market. Excellent report as usual.

@rosyloveslearning3013 1 day ago

Thanks, Daniel. Great info. 🎉

@jeffotoole4509 3 days ago

But. But. Dan. Who will save the poor realtors? How on earth do we put together all those go fund me”s for the realtors and their Benz leases. The horror. Shear horror I once saw a prominent realtor driving a baby blue Porsche. Ohh how things change.

@GrandWazoo13 2 days ago

Keep doing You. Good video as always.

@ShemAhmad 3 days ago

Great analysis !

@HaydenRheese 1 day ago

Three new foreclosures in my neighborhood alone in Whitby this past month

@soothsayerqqq 2 days ago (edited)

Sellers are also buyers so the reality is there are less listings because sellers realize the available inventory sucks. Good luck with a new build , condo or a townhome I wouldn't buy any of them. So it goes both ways folks. Buyers are so screwed because they are going to a pay premium for subpar product. And add to that the fact that boomers aren't selling not because of price but because there's nowhere to go. Boomers have tons of equity and own the lions share of real homes , their not going to give that up for the crap inventory that's available. That's the real problem price has very little to do with it.

@Cheriwilson55 1 day ago

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@DiggyT 2 days ago

Home owners think they can take their ball home, when they come back and realize a cheaper better ball is being used now

@vhateverlie 3 days ago

If our "war" with the USA on trade is just getting started and fuel prices stay high, it looks like bonds are about to stay high it might get even freaking worse...

@meh4770 3 days ago

I work with an RE agent, he told me flat out, no matter what agents tell sellers, they will not adjust expectations lower. He has someone who has had 3 open houses and then pulled the sale, another seller has had the listing up for 4 months and will not even go down by $5k, he has estate sales that are not even countering offers under asking. Sellers have dug in their heels and it is reshaping the entire market.

@jimlove-n1z 2 days ago

it shocks me that people would even consider a Condo. go 600000 into debt just so you can pay monthly fees... Crazy.

@fasteddy6170 2 days ago

Banksters shouLd be careful if PrincipaL ain't beiNG paid doNt eXpect to get out of tHe hoLe

@dinagallis2664 2 days ago

Most distressed sellers have yet to hit the market IMO sadly.. from what I’m seeing .. time will tell

@Trenty47 2 days ago (edited)

You only burn through distressed sellers if the economy turn around Dan.

Also if the economy suffers and stocks drop that wipes a lot of the savings potential buyers have built up.

Rents have no reason to stop dropping until immigration starts back up or the economy turns around.

Bonds yield higher so people wanting passive income can get it by doing nothing instead of managing tenants.

A rare bad take Dano

@tinahalim6589 2 days ago

Down, down, down equal to good news

@henry-i4t9m 3 days ago (edited)

Price needs and will drop another 30% at least cause it is still extremly expensive. no jobs, high inflation. price needs and will go back to 2015 level. Canada is a country has no industry and just left housing to buy and sell to pump up price

@MingTheKing100 3 days ago

Dan, can you do an analysis on the Barrie sales numbers? 😊

@tarawang5466 2 days ago

Dan, can you be impartial and pull up the voluminous amounts of net positive condos in the GTA listing now? Perhaps that will give you some new intuition why sellers are pulling back listings at prices where they are being overly altruistic.