The Greater Toronto Area housing market showed renewed momentum in October, as home sales climbed notably from September’s totals. Sales activity rose more than 10 per cent month over month, representing 546 additional transactions and marking the third-highest monthly total of the year. Despite this improvement, overall sales remain below both annual and historical averages, down 8 per cent year over year and 22 per cent below the 10-year October benchmark.
Average property values held steady through the month, following a 3.6 per cent gain in September, with the region’s average sale price now sitting at $1,054,372. Active listings declined by 1,586 to end October with 27,808 homes on the market, suggesting some sellers may be taking a wait-and-see approach as the market adjusts to new conditions.
Market trends in recent months suggest that improved affordability, coupled with steady rate adjustments, is helping to restore balance across several Canadian regions. As Royal LePage President and CEO Phil Soper explains:
“Canada's housing market is shifting toward balance, as easing prices, rising listings and renewed rate cuts improve affordability across most regions,” notes Phil Soper. “Buyers, especially in previously supply-strapped markets, now have genuine choice and negotiating power.”
“Buyer sentiment is being influenced by a complex mix of economic and psychological factors,” adds Soper. “Despite materially improved affordability in major cities, many Canadians, particularly younger ones, remain cautious amid high post-pandemic living costs, perceived job uncertainty, and general unease about our economic prospects. It is understandable that some are waiting before making such a significant purchase.”
The detached market experienced only a slight adjustment in pricing, with average values edging down a quarter of one per cent to $1,355,506. Sales rose by 7 per cent during the month, bringing 2,856 properties under contract, while active listings declined by 6 per cent to 12,879. Although the combination of stronger sales and reduced inventory appears encouraging, both figures remain far from historical norms. Detached home sales are 21 per cent below the 10-year October average, while available inventory sits 61 per cent higher than typical levels for this time of year.
Townhomes across the GTA witnessed a 13 per cent rise in monthly sales, reaching 584 transactions in October. While sales gained momentum, the average sale price dipped by 1.3 per cent to $935,042. Inventory ended the month with 2,091 active listings, down 6 per cent from September yet up 15 per cent year over year, illustrating a gradual buildup in supply.
The condominium sector recorded modest gains in both pricing and activity. The average condo sale price in October rose slightly to $660,208, while monthly sales increased by 8 per cent to a total of 1,558 transactions. Inventory remained relatively stable, decreasing by 3 per cent month over month but rising 1.3 per cent annually, with 8,896 active listings at month-end.
Semi-detached properties posted strong results, with sales climbing 18 per cent to 595 transactions. Average sale prices increased by 1.7 per cent to $1,033,770. Active listings declined monthly but remained 20 per cent higher than a year ago, with 1,520 semi-detached homes available for sale across the region.
October’s data signals a market cautiously regaining its footing after a period of adjustment. Improved affordability, steady interest rate reductions, and ample inventory are helping buyers re-enter the market with greater confidence and choice. While overall sales remain below long-term averages, momentum is gradually building across most property types. If economic stability continues and further rate cuts materialize, the GTA housing market is positioned to move toward a more balanced and sustainable pace heading into 2026.
Whether you're buying, selling, or simply tracking the market—I’m here to help you navigate it with clarity, strategy, and grounded advice.
Luba Beley,
Real Estate With Integrity
📩 Ready to talk? Let’s connect.
📞 416-419-5226
📍 Serving Toronto, Etobicoke, and the GTA West