Toronto’s housing market continues to search for balance as economic uncertainty shapes the pace and sentiment of both buyers and sellers.
According to the latest data from the Toronto Regional Real Estate Board (TRREB), October home sales and prices were down compared to last year, while listings rose — a clear sign of a market recalibrating after years of intense pressure.
The Numbers at a Glance
Sales: 6,138 homes sold — down 9.5% year-over-year.
New listings: 16,069, up 2.7% from 2024.
Active listings: 27,808, up 17.2%.
Average price: $1,054,372, down 7.2% year-over-year, and roughly $81,000 less than October 2024.
The drop in sales and the rise in inventory have placed downward pressure on prices, creating more approachable conditions for buyers who have been sidelined in recent years.
Opportunity Meets Uncertainty
For buyers confident in their employment and long-term financial outlook, this market offers an opportunity that simply didn’t exist two or three years ago. There’s more selection, fewer bidding wars, and a return to more traditional negotiating conditions.
That said, many potential buyers remain cautious — unsure of what lies ahead for interest rates, inflation, and the broader economy. As a result, confidence — rather than affordability alone — continues to be the deciding factor.
Across the GTA
Every property type saw price declines year-over-year:
Detached: down 7.3% to $1,355,506
Semi-detached: down 6.5% to $1,033,770
Condo: down 4.7% to $660,208
In the City of Toronto, sales were down 6.2%, while the rest of the GTA saw an 11.5% decline.
The Bottom Line
Toronto’s housing market isn’t collapsing — it’s recalibrating. Prices are easing, listings are climbing, and the balance of power between buyers and sellers is evening out.
For those with a long-term perspective, moments like this often bring the best opportunities — not the biggest headlines.
Brandt J. Morris
Morris Code | Live. Buy. It
