Greater Toronto home sales down nearly 8% from a year ago in October

Home sales in the Greater Toronto Area were down in October compared with a year ago as the city’s real estate board says uncertainty around inflation, borrowing costs and the economy kept many potential buyers on the sidelines.

The Toronto Regional Real Estate Board says 5,603 homes changed hands last month, down 7.9 per cent year-over-year; however sales rose 1.2 per cent from September on a seasonally adjusted basis.

The average selling price was $1,024,108, down 2.7 per cent year-over-year, while the composite benchmark price, meant to represent the typical home, was down 4.3 per cent.

There were 14,173 new listings on the market in October, down 11.9 per cent from last year.

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Active listings fell 10 per cent from October 2025, as total inventory across the GTA stood at 25,098 homes for sale.

TRREB president Daniel Steinfeld says residents are closely watching Canada-U.S. trade negotiations in hopes of a new deal, along with conflict in the Middle East, in order to ease concerns about inflation and economic uncertainty before making a move in the home ownership market.