The Toronto housing market lost more momentum in September as home sales fell nine per cent from a year earlier, extending a slowdown that began this summer.
There were 5,040 homes sold through the Toronto Regional Real Estate Board ’s MLS system last month, down 5,540 in September 2025. New listings dropped 14.4 per cent to 16,500.
The results marked a reversal from earlier in the year. Sales jumped 9.4 per cent year over year in June, before slipping 0.9 per cent in July and 2.1 per cent in August. September’s nine per cent decline was the sharpest of the four-month stretch.
On a seasonally adjusted basis, sales also fell 5.2 per cent from August, the second consecutive monthly decline, according to TRREB’s September data.
Prices in September also remained under pressure. The average selling price was $1,006,409, down 5.1 per cent from a year ago, while the MLS Home Price composite benchmark fell 4.7 per cent. Both measures also edged lower from August.
TRREB chief information officer Jason Mercer said lower home prices have created opportunities for buyers, but economic uncertainty is keeping many from acting.
“We know there is substantial pent-up demand in the GTA, with many households fully intending on purchasing a home in the months ahead. These would-be homebuyers want to take advantage of today’s more affordable housing market, but they need to be confident that their employment situation will remain solid and inflation will not put pressure on borrowing costs over the long term.”
• Email: shcampbell@postmedia.com