According to the Toronto Regional Real Estate Board, 6,138 homes were sold across the Greater Toronto Area last month, a 9.5% decline from October 2024. On a seasonally adjusted basis, sales also dipped 2.3% compared to September 2025.
Meanwhile, new listings rose 2.7% year over year to 16,069, while active listings surged 17.2%, reaching 27,808 homes. This growing inventory, combined with weaker demand, continued to push prices lower.
The benchmark home price fell 5% compared to last year, while the average selling price dropped 7.2% to $1,054,372, about $81,000 less than in October 2024. Month over month, prices also slipped 1.4% from September.
Breaking it down by property type, the average price for a detached home declined 7.3% to $1,355,506, and condo prices were down 4.7% to $660,208.
TRREB President Elechia Barry-Sproule noted that lower home prices and interest rates are finally opening doors for some buyers.
“Buyers who are confident in their employment situation and ability to make their mortgage payments over the long term are benefiting from more affordable market conditions compared to the past few years,” she said. “However, many potential buyers remain on the sidelines due to uncertainty about their economic future.”
TRREB Chief Information Officer Jason Mercer added that a rebound could be on the horizon once the broader economy stabilizes.
“Once we have more certainty on the economic front, including trade with the U.S. and China, home sales should increase,” Mercer said. For now, Toronto’s housing market remains firmly in buyer territory, a sharp contrast to the frenzied conditions that defined the past decade.