Average Sale Prices of Detached Homes in October in Comparison to October of 2024:
• Toronto: -9.94% at $1,61M
• Vaughan: -11.45% at $1,59M
• Richmond Hill: -7.18% at $1,83M
• Mississauga: -11.03% at $1,35M
• Markham: -2.71% at $1,61M
• King City: -26.89% at $2.34M
• Newmarket: -4.32% at $1,16M
• Aurora: -12.42% at $1,56M
• Bradford: -3.96% at $1,09M
• Milton: +1.67% at $1,30M
• Stoufville: +1.16% at $1,42M
• Innisfil: +11.84% at $975,000
• Alliston: -18.16% at $728,000
• Burlington: -4.40% at $1,25M
• East Gwillimbury: +3.68% at $1,29M
• Barrie: -0.67% at $828,000
• Oakville: -7.65% at $1.77M
October was a quieter month across the GTA as buyers continued to take their time and inventory remained high. Sales came in just over 6,100, which is about 10% lower than last October. With more than 16,000 new listings and almost 28,000 active listings, buyers had plenty of options, keeping the market balanced and leaning slightly in their favour. Homes took about 31 days on average to sell, and the average price settled around $1.05 million, down roughly 7% from last year.
Toronto’s core market showed similar cooling. Detached homes in the 416 averaged about $1.62 million, down around 9% year-over-year. Buyers had more negotiating room, especially in higher-priced neighbourhoods. In the 905 regions: York, Peel, Durham, and Halton, detached homes averaged $1.26 million, also down from last year, with more inventory and softer overall demand.
Condos remained one of the slowest segments, with sales down nearly 10% compared to last year and units taking longer to sell. Buyers and investors are being selective, focusing on strong layouts, natural light and good locations.
Month-to-month, the market eased slightly from September, which is normal heading into the winter season. Prices stayed mostly flat compared to last month, but below last year’s levels.
Looking ahead, November and December should stay slower due to typical seasonality. Inventory is expected to remain elevated, keeping conditions steady for buyers. Prices should remain stable unless interest rate expectations shift.
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