10/03/2025
September 2025 Real estate statistics
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So far it has been a fantastic fall with the warm weather hanging in, kids back to school and some underling upside in the Greater Toronto Area’s real estate market. This past September home sales increased compared to a year earlier, as more buyers looked to take advantage of affordable monthly mortgage payments and choice. With the number of homes of all types for sale up 18.9% over last September, buyers naturally have more selection which has continued to put downward pressure on prices.
There was a rate cut by the bank of Canada this past September which was welcome news for homebuyers. With lower borrowing costs, more households are now able to afford monthly mortgage payments on a home that meets their needs.
There were 5,592 home sales reported through the MLS System up by 8.5% compared to September 2024. The average selling price, at $1,059,377, was down 4.7% respectively.
A very interesting comment shared by the Toronto Regional Real Estate Boards Chief Information Officer, Jason Mercer, was that while home sales have improved over the past year, they still remain below normal levels. Further stating that two more 25-basis-point interest rate cuts by the Bank of Canada would see monthly mortgage payments move more in line with homebuyers’ average incomes, which would further spur home sales and related economic activity.
Resale condominium activity also improved with sales up 9.5% over September of last year.
It is fantastic to see the number of homes sales increase as this will eventually influence price appreciation. Price increases will encourage those buyers that have been sitting on the fence to get into the market and to act quickly.
Know that I am only a phone call or text away to address any real estate related enquiries you may have, please never hesitate to reach out.
