Toronto Fall Market Snapshot. Inventory on the Rise: Is This Your Moment to Buy? Top 10 real estate agents in Toronto downtown

Toronto's Fall Market. Inventory on the Rise: Is This Your Moment to Buy? 🏡🍁

📈 Home Prices
 

✨ Annual Price Trends: The Greater Toronto Area (GTA) real estate market continues to showcase resilience, with average home prices holding steady at $1,107,291—reflecting only a modest 1.0% dip from last year. For those seeking solid mid-term to long-term investment opportunities, now is an ideal time to secure a remarkable property in the GTA

✨While the "average" home price remains steady, some incredible opportunities await - especially in the condo and townhouse market. Select properties are available at price points we haven’t seen in years, making this an ideal moment for savvy buyers to maximize their value. For example, consider this modern 3-bedroom corner suite condo on Yonge Street, with parking included right across from downtown's Toronto Eaton Centre - it sold for just $755,000 when similar units sold for $1,220,000 just over 2.5 years ago 

✨ Monthly Price Trends: the average GTA home price rose to $1,107,291 in September—a modest +3.1% increase from August’s average of $1,074,425. This rise could signal a trend of upward momentum, especially with anticipated Bank of Canada rate cuts on the horizon. Buyers considering an entry may want to act before further increases take hold

📊 Sales Volumes
 

✨ Annual Sales Trends: While the Toronto Regional Real Estate Board (TRREB) reports an +8.5% increase in home sales since last September, sales volumes remain relatively low at 4,996, with new listings outpacing sales. This surplus of properties available for sale, combined with favourable new mortgage rules arriving December 15th, presents a prime window for serious buyers to invest. With interest rates trending downward, buyers can capitalize on these ideal market conditions before demand accelerates further

✨ Monthly Sales Trends: Home sales remained consistently low in September, with a minimal +0.4% increase compared to August

🔎 Inventory Supply

✨ The GTA now has over 25,000 properties on the market—the highest count this year and a level not seen since September 2009! This 15-year high represents a +35.5% annual increase in listings, giving buyers a distinct advantage with an abundance of options to find the perfect property.

🔮 Interest Rates and Market Outlook

✨ The GTA remains a buyer's market in many neighbourhoods. Yet, as more buyers return—spurred by anticipated rate cuts and favourable new lending rules—sales are projected to rise into 2025. With a major 50-basis-point rate cut expected later this month, now is the time for buyers to act before increased demand drives prices upward. If you're looking for guidance in selecting the right property, give our team a call.