After a quiet summer and early fall, the Greater Toronto Area (GTA) housing market gained renewed energy in October, showing encouraging signs of stability and buyer re-engagement.
Sales Activity Picks Up Across the Region
Home sales climbed more than 10% month-over-month, representing an additional 546 transactions and marking the third-highest monthly total of 2025. While sales remain below long-term trends—8% lower year-over-year and 22% below the 10-year October average—the market’s direction is increasingly positive.
Average home prices held steady at $1,054,372, following a 3.6% increase in September. Meanwhile, active listings dipped slightly to 27,808, suggesting that some sellers are waiting to gauge the impact of recent rate adjustments before re-entering the market.
Improving Affordability Restores Buyer Confidence
Across Canada, market balance is gradually being restored as affordability improves and interest rates stabilize.
“Canada’s housing market is shifting toward balance, as easing prices, rising listings and renewed rate cuts improve affordability across most regions,” explains Phil Soper, President and CEO of Royal LePage.
“Buyers, especially in previously supply-strapped markets, now have genuine choice and negotiating power.”
Even with more favourable conditions, Soper notes that many Canadians—particularly younger buyers—remain cautious amid broader economic uncertainty.
Detached Homes Lead the Way
The detached home market saw prices ease slightly, down just 0.25% to $1,355,506, while sales rose 7% to 2,856 units. Active listings fell by 6% to 12,879, indicating healthier absorption rates. Still, detached transactions sit 21% below the 10-year average, and inventory remains 61% above typical levels for this time of year.
Townhomes and Condos Show Balanced Growth
The townhome segment posted a 13% jump in sales to 584 transactions, even as average prices edged down 1.3% to $935,042. Inventory declined by 6% month-over-month, but remains 15% higher year-over-year, showing a gradual buildup in supply.
Condominiums followed suit with modest gains: the average condo price rose to $660,208, and sales climbed 8% to 1,558 units. Available listings held stable, ending the month at 8,896—virtually unchanged from September.
Semi-Detached Properties Outperform
Semi-detached homes delivered one of the strongest performances in October. Sales increased 18% to 595 transactions, while prices rose 1.7% to $1,033,770. Inventory declined month-over-month but remained 20% above last year’s levels, offering a balanced mix of opportunity for both buyers and sellers.
Outlook: A Market Regaining Its Footing
October’s data points to a market that’s steadily regaining balance. With improving affordability, gradual rate reductions, and ample selection, more buyers are stepping back into the market with confidence and choice.
While overall activity still trails historical norms, the momentum is building across nearly every property type. If economic stability continues and interest rates ease further, the GTA housing market is poised to enter 2026 on stronger, more sustainable ground.
Thinking About Your Next Move?
Whether you’re buying, selling, or investing, understanding today’s shifting market dynamics is key to success.
Connect with Pilarski Real Estate Group for data-driven insights and expert guidance tailored to your goals.
