The term “real estate market” represents a label for an arena of activity within which properties are bought and sold. Historically (read: pre-pandemic), fluctuations were typically subtle and took more time to develop. From 2020–2025, that all got thrown out the proverbial window, with dramatic changes of $20,000, $30,000 and $40,000+, month upon month, becoming our new normal. What used to take years, even decades, was happening almost overnight.

Durham Region experienced particularly dramatic fluctuations, rising disproportionately during the pandemic and then falling disproportionately as the market corrected.

Enter 2026, when a shift began to take shape. Throughout the year, we’ve hovered around the $840,000 mark. A little gain here, a minor setback there, but overall, a much steadier market.

While August recorded the lowest average sale price of the year so far at $823,153, the significance lies not simply in where prices stand today, but in the slower pace of change.

What Does a More Stable Market Mean for Buyers and Sellers?

As we move through the fall market, the numbers suggest that Durham Region may be entering a period of greater stability after several years of significant price erosion.

While further losses are likely, average prices will most likely continue trending lower month over month throughout the fourth quarter. The important distinction is that these changes are not expected to be dramatic.

I believe this points toward a longer-term change that could come to fruition in 2027: a leveling off of property values, a departure from the price erosion momentum experienced over the past four years, and a return to market conditions more reflective of the pre-pandemic era. During that time, growth was generally more conservative and measured over years rather than weeks.

So, what does this mean if you’re planning to buy or sell?

This fall, timing and strategy will be essential to producing a successful sale. Today’s market requires thorough research and analysis, an understanding of the reasons behind market behaviour, and the ability to leverage every available opportunity.

For sellers, this means understanding current market conditions, pricing strategically, and positioning your property to compete effectively. For buyers, understanding market trends and comparable sales can help inform decisions and provide greater confidence when making an offer.

In short, this is not a time for cutting corners or for amateurs to “fake it ’til they make it.” Experience, knowledge, and careful analysis matter.