The Toronto Regional Real Estate Board (TRREB) has reported a decline in both home sales and prices for October 2025. The data indicates that home sales totaled 6,138, reflecting a significant decrease of 9.5 percent compared to the same month last year. When adjusted for seasonal variation, this represents a drop of 2.3 percent from September 2025.
In terms of new listings, the market saw an increase, with 16,069 new homes listed, marking an uptick of 2.7 percent from the previous year. Additionally, the number of active listings rose to 27,808, which is a notable 17.2 percent increase. This combination of rising listings and decreasing sales has exerted downward pressure on home prices in the region.
The benchmark home price fell by five percent year-over-year, while the average selling price stood at $1,054,372, down 7.2 percent from October 2024. Month-over-month comparisons also show a decline, with the average price decreasing by 1.4 percent from September to October 2025.
TRREB president Elechia Barry-Sproule commented that both lower home prices and interest rates are creating more favorable conditions for buyers who find themselves in a stable economic situation. She emphasized that buyers who are confident in their employment status and can manage their mortgage payments over the long term stand to benefit from the more affordable housing market when compared to previous years.
However, Barry-Sproule also noted that many potential homebuyers remain hesitant, primarily due to ongoing uncertainty regarding the broader economic outlook. This cautious attitude is affecting their willingness to enter the housing market at this time.
Looking into specific property types, the average price for detached homes has decreased by 7.3 percent, bringing it to $1,355,506. On the other hand, the average price of condominiums fell by 4.7 percent, settling at $660,208.
TRREB’s chief information officer, Jason Mercer, expressed an optimistic outlook for the real estate market, predicting a rebound in home sales once there is greater economic certainty. He highlighted that clarity regarding economic conditions, particularly in relation to trade with the United States and China, is likely to encourage buyers to re-enter the housing market.
The overall picture presented by the TRREB's October 2025 report illustrates a mixed landscape in Toronto's real estate sector. While rising listings and lower prices may create openings for informed and confident buyers, a significant portion of the potential market remains sidelined due to economic apprehensions. As confidence in the economy strengthens, it is anticipated that home sales may witness an upswing in the coming months, aligning with Mercer’s expectations for a market recovery.
