The Villeray Condo Market in 2025: Toward a New Balance

For several years now, Villeray has been the scene of marked real estate fluctuations: strong enthusiasm until 2022, followed by a noticeable slowdown starting in 2023. Today, in 2025, the indicators converge to paint the picture of a market that is recovering, but that also faces new challenges. Here is an overall analysis of the main trends, covering price changes, selling times, available supply and seller/buyer behaviour.

A notable rebound in prices

The median price of condominiums in Villeray is posting an appreciable increase. In fact, data comparing January 2024 and January 2025 show a jump of about $100,000, bringing the median price to around $591,000.

• What this means:Buyers are showing renewed confidence, probably linked to the drop in interest rates that had dampened enthusiasm in 2023-2024. The neighbourhood remains highly attractive thanks to its commercial vitality, accessible public transit and its sought-after neighbourhood atmosphere.

However, this increase no longer resembles the frenzied bidding of the 2021-2022 era. Transactions are happening at a more measured pace, even though we are starting to see more bidding wars with multiple offers in January 2025.

Selling time: an encouraging decrease

Winter usually brings a certain slowdown in the real estate market, as shown by January 2024, when the average selling time peaked at 67 days. However, January 2025 reverses this trend: with an average of 51 days, the market is noticeably more dynamic. This improvement reflects both greater responsiveness from buyers and more precise pricing by sellers, who are thus closing their transactions more quickly.

• How to interpret it:Properties that stand out (strategic location, renovated interior, sound condominium management) find buyers more quickly, often very close to the asking price. Sellers are better at setting their list price from the outset, aware that buyers remain selective and that high mortgage rates limit the number of buyers who can afford an “off-market” condo.

This is not yet a return to the frenzy of 2021, when the average selling time could sometimes drop below three weeks. Rather, we are seeing a gradual move toward a balance in which buyers and sellers negotiate more calmly.

Growing supply, but also more unsold properties

A striking feature of January 2025 is the increase in the number of new listings. For example, more condos are being put on the market than in the same period in 2024. Paradoxically, however, the expiry rate (listings that reached their end date without selling) is also climbing.

• Reading this phenomenon:More sellers are trying their luck: The improvement in prices is prompting some owners to list their condo at an ambitious price. Demanding buyers: Despite rising prices, borrowing capacity remains more limited than in 2021-2022 because of interest rates, forcing buyers to be more rigorous in their selection and in negotiations. A selective market: Units that are overpriced or have shortcomings (weak contingency fund, deferred renovations, less sought-after location) risk not selling in time and end up expiring.

In short, there is a duality: part of the market sells quickly (particularly condos listed at a consistent price), while another part reaches the end of its listing contract.

A sale-to-list ratio close to the asking price

Despite this abundant supply, the sale price / asking price ratio remains high, often between 99% and 100%. This confirms that:

• Sellers who “price it right” close their transactions without much downward negotiation.
• Offers above the asking price, frequent a few years ago, remain exceptional and mainly involve exceptional properties (major renovations, premium location, rare architectural concept).

Overall sales volume: the hidden stagnation

Finally, the total number of transactions is not taking off. There is even a slight decline compared with last year, although it is still too early to consider this a trend, but with a few fewer transactions from one year to the next.

• To explain :Buyers, still wary after the rapid rise in rates, are taking the time to compare. Some sellers, encouraged by the rebound in prices, prefer to stand firm, but ultimately leave the market (expired listing) rather than lower their price.

The result: the market is reactivating, but not rushing. Everything is negotiated in a relatively “measured” setting, without any spectacular surge.

Outlook and advice

For sellers

1. Objectivity in setting the priceA poorly priced condo risks staying on the market needlessly long, then ending up expired. Recent comparables are an essential asset for positioning your property correctly.
2. Careful presentationToday's buyers are all the more selective as their budget is squeezed by rates. Invest in quality photos, impeccable tidiness and a solid condominium file (contingency fund, minutes of meetings, etc.).
3. Marketing strategyIf you can target the spring (historically more active), you will get more showings. Keep an eye on the competition: if many similar condos are listed, it may make sense to adjust the price slightly or add incentives (inclusions, flexibility on the occupancy date).

For buyers

1. Careful analysis of propertiesEven if supply is diversifying, not everything is necessarily attractive: find out about the condominium's financial health, any upcoming work and the ratio between condo fees and floor area/quality.
2. Up-to-date financingMortgage rates remain high; make sure you have a realistic, up-to-date pre-approval so you can react quickly. It will also give you better negotiating leverage with sellers who need a quick sale.
3. Patience and opportunismWith an average selling time of 51 days, you are no longer in the widespread urgency of the past. Negotiate if the condo has been on the market for several weeks. Motivated sellers may be open to concessions (inclusions, price reduction, favourable conditions).

Conclusion

The start of 2025 seems to confirm a return of momentum in the Villeray condominium market that began in late 2024, driven by a rising median price and fairly short selling times. However, accumulating supply and a rising expiry rate show that a sale is not automatic: to succeed, you need to offer consistent value for money and meet the expectations of buyers who remain vigilant about their budget.

Ultimately, Villeray in 2025 presents itself as a balanced market, where opportunities abound but no one has a truly decisive advantage. Quick-thinking sellers who are aware of the neighbourhood's reality will get good results, while patient, well-prepared buyers will be able to find properties that truly match their needs… and their means.