GTA Home Sales Decline Nearly 8% in October

Home sales in the Greater Toronto Area (GTA) declined in October compared to the previous year, according to the Toronto Regional Real Estate Board (TRREB). The real estate board stated that uncertainty regarding the economy, borrowing costs, and inflation has caused many potential buyers to remain on the sidelines.

Sales and Pricing Data

According to the Toronto Regional Real Estate Board, 5,603 homes changed hands in October. This figure represents a 7.9 per cent decrease year-over-year. However, when looking at a seasonally adjusted basis, sales rose 1.2 per cent from September.

Regarding property values, the data shows the following:

• The average selling price was $1,024,108, which is down 2.7 per cent year-over-year.
• The composite benchmark price, which is intended to represent the typical home, was down 4.3 per cent.

Market Inventory and Listings

The number of new listings on the market also saw a decline. There were 14,173 new listings in October, which is down 11.9 per cent from last year.

Active listings fell 10 per cent compared to October 2025. As a result, total inventory across the GTA stood at 25,098 homes for sale.

Economic Factors and Uncertainty

TRREB president Daniel Steinfeld noted that residents are monitoring specific global and domestic factors before committing to the home ownership market. Steinfeld says residents are closely watching Canada-U.S. trade negotiations in hopes of a new deal, along with conflict in the Middle East, in order to ease concerns about inflation and economic uncertainty before making a move in the home ownership market.

Why it matters

The decline in sales and the decrease in both average and benchmark prices reflect the impact of economic uncertainty on the GTA real estate market. With active listings down 10 per cent from the previous year and new listings decreasing by 11.9 per cent, the total inventory remains at 25,098 homes.

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Sources

• bnnbloomberg.ca: GTA home sales down nearly 8% in October: real estate board
• ctvnews.ca: GTA home sales down nearly 8% in October: real estate board

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.