In the first quarter of 2025, the part of North York between Yonge and Leslie, from Finch down to York Mills, was a buyer's market. 180 condos sold in that quarter, 22% fewer than in Q1 2024, and 45 detached homes sold, 43% fewer. As of Q1 2025, detached listings sat at 13.5 months of inventory.
I am Moe Asgarian, Principal Real Estate Broker with RE/MAX in Toronto, ranked #47 worldwide and in the top 1% in Canada, and reading these pockets is daily work for my team. This is one of the areas Iranian families ask me about most often, and plenty of my clients have bought and sold right here.
The slice of North York these numbers cover
Everything below describes one defined area in one quarter: Yonge to Leslie, Finch to York Mills, in Q1 2025. That matters, because North York is not a single market. This area holds both condos and freehold property, meaning detached houses, townhouses and semis, so you get a real mix of products in a small footprint. One caution before the numbers: the count of townhouses, condo townhouses and semi detached homes here is far smaller than the count of apartments and detached houses, so percentages in the small groups swing on very few sales.
Condo sales in the first quarter of 2025
180 condo units sold in Q1 2025, down 22% from Q1 2024. In that quarter only two studios sold, at roughly $400,000 each. 36 one bedroom units sold in Q1 2025 at a median of $510,000. 49 one plus one units sold in the same quarter at a median of $576,000. Two bedrooms carried Q1 2025: 87 sales, close to half of all condo activity in the quarter, at a median of $775,000. Three bedrooms barely moved, with 6 sales in Q1 2025 at a median of $1,275,000.
Read those together and you can see what buyers were doing in early 2025. They used soft prices to buy the largest unit they could reach, which is exactly why two bedrooms dominated that quarter. As in downtown Toronto at the time, studios were the hardest product to sell.
Months of inventory, from studios to three bedrooms
Months of inventory is the honest measure here. In the first quarter of 2025 there were only 6 studios for sale in this area and only 2 had sold in three months, which works out to about nine months to clear them at that Q1 2025 pace. That made it the worst moment to be selling a studio: prices were low and buyers wanted space. In Q1 2025, one plus one and two bedroom units sat near five months of inventory, which is a balanced market. Three bedrooms sat at 11.5 months in Q1 2025, mostly because they were priced above $1 million and the buyer pool at that level is thin.
Townhouses, condo townhouses and semis
Townhouses were the one bright spot. 39 sold in Q1 2025, five more than the same quarter a year earlier. Of those 39 Q1 2025 sales, 31 were condo townhouses at a median of $979,000, 5 were freehold townhouses at a median of $1,635,000, and 3 were semis at $1,018,000. So roughly 80% of that Q1 2025 group was condo townhouses, and the reason is price: freehold was expensive enough that condo townhouses collected the buyers.
That is a cycle I have watched for years. When the price gap between freehold and condo widens, condos get more popular. When prices come down, people reach for more space. When prices climb again, they move back to smaller units. In Q1 2025, condo townhouses were at 4.4 months of inventory and the rest of the townhouses at 4.6 months, both balanced. Under 4 months you are into a seller's market, and well above it you are into a buyer's market.
Detached homes, down 43 percent
Detached was the weakest part of this area. 45 detached homes sold in Q1 2025, a 43% drop from the same quarter in 2024, and the reason is simply price. The median detached sale was $2,280,000 in Q1 2024 and $2,240,000 in Q1 2025, essentially flat and still very high. From Q1 2024 to Q1 2025 the decline was even across the bands: $1 to $2 million went from 20 sales to 11, a 45% drop; $2 to $3 million went from 26 to 14, a 46% drop; $3 to $4 million went from 12 to 7, a 42% drop. Months of inventory for detached was 13.5 in Q1 2025, which is a deep buyer's market.
Which price band was actually working
Put the whole quarter on one page and the shape is a barbell. In Q1 2025 the longest months of inventory sat at the two ends, studios and very large homes. The products in the middle were in better condition and had a far better chance of selling. Based on these Q1 2025 numbers for this area, property priced between $600,000 and $1.2 million was the most workable range to buy or sell in.
If you own a condo or a house in this part of North York, or you are thinking about buying here, fill out the form at the bottom of this page or book a free consultation and we can go through your situation together. Stay well and take care.
Frequently asked questions
Was North York a buyer's or a seller's market in early 2025?
In the first quarter of 2025, the area between Yonge and Leslie from Finch to York Mills was a buyer's market overall. In that quarter detached homes sat at 13.5 months of inventory and studio condos at about nine months, while one plus one and two bedroom condos and townhouses were closer to balanced at four to five months.
What did condos sell for in this part of North York in Q1 2025?
Median prices in the first quarter of 2025 were about $400,000 for the two studios that sold, $510,000 for one bedrooms, $576,000 for one plus ones, $775,000 for two bedrooms and $1,275,000 for three bedrooms.
Why did detached sales fall 43% in Q1 2025 while townhouse sales rose?
Price. The median detached sale in this part of North York was $2,240,000 in Q1 2025, nearly flat against $2,280,000 in Q1 2024, and that level thinned the buyer pool in every band. Condo townhouses at a Q1 2025 median of $979,000 sat where more buyers could qualify, which is why that group added five sales against the same quarter a year earlier.