Market Report | October 2025
Market Report | October 2025
GTA Housing Market Update: October Trends Signal Buyer-Friendly Conditions
A Market in Transition
The Greater Toronto Area (GTA) housing market continued its adjustment in October, reflecting a shift toward buyer-friendly conditions. Home sales declined year-over-year, while new listings edged higher, creating more choice for those ready to enter the market. Lower mortgage rates and moderated prices further enhanced affordability—a stark contrast to the competitive environment of recent years.
Key Market Highlights
Home Sales: 6,138 transactions recorded through TRREB’s MLS® System in October—a 9.5% decrease compared to October 2024.
New Listings: 16,069 properties listed, up 2.7% year-over-year.
Average Selling Price: $1,054,372, down 7.2% from the previous year.
MLS® Home Price Index: Composite benchmark declined by 5% year-over-year.
On a seasonally adjusted basis, both sales and new listings dipped compared to September, signaling a cautious market mood.
Why Buyers Hold the Advantage
“Buyers who are confident in their employment situation and ability to make their mortgage payments over the long term are benefitting from affordable housing market conditions relative to the past few years,” noted TRREB President Elechia Barry-Sproule.
Lower borrowing costs combined with reduced selling prices mean monthly mortgage payments for an average-priced GTA home have trended downward. For qualified buyers, this represents a rare window of opportunity to secure properties that meet their housing needs.
Greater Toronto Area - Monthly Sales Activity
Economic Uncertainty Keeps Some on the Sidelines
Despite improved affordability, many prospective buyers remain hesitant. Global economic uncertainty—particularly around trade with the U.S. and China—continues to weigh on consumer confidence.
“The monthly mortgage payment for an average-priced GTA home continued to trend lower in October, benefitting from both lower borrowing costs and lower selling prices. Once we have more certainty on the economic front, home sales should increase,” said TRREB Chief Information Officer Jason Mercer.
Policy and Innovation: Building for the Future
Beyond short-term market dynamics, structural challenges persist. As TRREB CEO John DiMichele emphasized:
“Housing is essential economic infrastructure. As the population continues to grow, innovation and private capital are required to accelerate new construction across all housing types. Governments can help by modernizing tax rules, cutting buyer costs, and ending exclusionary zoning. Working together, we can rebuild confidence, create jobs, and deliver the homes Ontarians need. We have to act now.”
Looking Ahead
The GTA housing market is entering a pivotal phase. For buyers with financial stability, current conditions offer a compelling opportunity. For policymakers and industry leaders, the focus must remain on fostering supply, affordability, and confidence to ensure long-term market health.
