November 20, 2025 | Buying

October brought a quieter pace to the Greater Toronto Area (GTA) housing market as home sales dipped year-over-year and new listings edged slightly higher. Market conditions continued to lean in favour of buyers, with lower mortgage rates helping to ease monthly payments while average prices adjusted downward.

Market Overview

“Buyers who are confident in their employment situation and ability to make their mortgage payments over the long term are benefiting from more affordable conditions compared to recent years,” said TRREB President Elechia Barry-Sproule. “However, many prospective homebuyers remain cautious, waiting for more certainty around the broader economy.”

By the Numbers

  • 6,138 homes sold through TRREB’s MLS® System in October 2025 — a 9.5% decline from October 2024
  • 16,069 new listings were added — up 2.7% year-over-year
  • On a seasonally adjusted basis:
    • Home sales fell month-over-month compared to September
    • New listings also declined slightly, indicating slower activity heading into late fall
  • The MLS® Home Price Index (HPI) Composite benchmark was down 5% year-over-year
  • The average selling price reached $1,054,372 — a 7.2% decrease from last year
  • Compared to September, the HPI remained flat, while the average price softened modestly

What It Means for Buyers

Easing borrowing costs and moderated prices are creating opportunities for qualified buyers to secure homes that may have been out of reach in past years. With mortgage payments trending lower, those confident in their financial outlook can take advantage of today’s conditions before renewed demand eventually tightens supply.

What It Means for Sellers

For sellers, pricing strategy remains key. While buyer activity has slowed, motivated purchasers are still active — and they have options. Homes that stand out through strong presentation, accurate pricing, and thoughtful marketing continue to attract attention even in a more balanced environment.

Looking Ahead

“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,” noted TRREB Chief Information Officer Jason Mercer. “As economic conditions stabilize — particularly with trade between the U.S. and China — we can expect sales to pick up.”

TRREB CEO John DiMichele added, “Housing is essential economic infrastructure. With population growth accelerating, we need innovation and private investment to deliver new housing across all types. Governments can help by modernizing tax rules, cutting buyer costs, and removing outdated zoning barriers. Working together, we can rebuild confidence and deliver the homes Ontarians need.”

Bottom Line:
October reflected a cautious but promising market. Buyers continue to benefit from affordability improvements, while Sellers must adapt to a more selective environment. As confidence rebuilds and rates ease further, conditions are expected to balance heading into the new year.

 

Whether you’re considering a move, exploring your options, or simply trying to make sense of shifting market conditions, we’re here to help you navigate every step with clarity and confidence. The right strategy makes all the difference in today’s environment, and our team is always ready to walk you through the numbers, timing, and opportunities that matter most. Reach out anytime — we’d love to help you chart your next move in the GTA market.