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October delivered a strong performance with a double-digit jump in sales, signaling that the market is tightening as buyers rush to secure homes before winter.
📊 The Big Picture: GTA Market Stats
- Average Sold Price: $1,080,723 (Year-Over-Year: Down 4.8%)
- Total Sales: 6,439 (Year-Over-Year: Up 13.9%)
- New Listings: 13,858 (Year-Over-Year: Down 3.4%)
- Days on Market (LRL): 34 Days (Compared to 25 days last year)
🔍 Key Market Trends
1. A Double-Digit Sales Jump Sales surged by 13.9% year-over-year. This is a significant indicator that the psychological barrier has broken—buyers are no longer “waiting”; they are transacting. The combination of lower prices and eased borrowing costs has unleashed pent-up demand.
2. Market Conditions are Tightening We are seeing a divergence: Sales are up (+13.9%), but new listings are down (-3.4%). This imbalance is starting to absorb the inventory backlog. In fact, on a seasonally adjusted basis, the average home price actually edged up month-over-month.
📝 The Bottom Line
- For Buyers: The market is waking up fast. With sales jumping 14%, the “quiet” period is ending. Serious buyers should act before the supply tightens further.
- For Sellers: This is the best volume we’ve seen in months. The buyers are out there—if you are priced correctly, you have a high probability of selling now.
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