GTA Housing Market Shows Slight Uptick Amid Continued Price Declines
The Greater Toronto Area housing market showed mixed signals in September 2025, as prices continued to fall while sales activity began to recover. After months of sluggish movement, the market is showing early signs of renewed energy from buyers.
Average home prices across the GTA dropped 4.3 % year-over-year to about $1.06 million. Detached homes averaged roughly $1.36 million, while condos settled around $655,000, marking modest declines across all major categories.
Despite the dip in prices, total home sales rose 12 % compared with last year, reaching 5,592 transactions. This indicates that some buyers are re-entering the market, likely taking advantage of the softer pricing environment.
Inventory levels remained high, with active listings up 15 % from last year. More properties on the market mean buyers have greater choice and leverage when negotiating deals.
The sales-to-new-listings ratio held around 29 %, confirming that market conditions still favour buyers. Sellers are finding it harder to command top dollar and often need to adjust expectations.
Lower mortgage rates in recent weeks have contributed to the uptick in activity. As borrowing costs ease slightly, more first-time buyers and investors appear willing to test the market.
Even so, caution dominates sentiment. Homes are staying on the market longer, and buyers are more selective than ever, forcing sellers to focus on pricing, presentation, and timing to close successful deals.