Saturday, February 15, 2025
HomeCANADAToronto home sales rise in September as buyers return, driven by increased...

Toronto home sales rise in September as buyers return, driven by increased listings and improved negotiating power, TRREB report indicates

The Toronto Regional Real Estate Board (TRREB) reported a rise in home sales in September as buyers started benefiting from lower home prices and interest rate cuts.

A total of 4,996 homes were sold across the Greater Toronto Area (GTA), marking an 8.5% increase from the 4,606 sales in September last year. Sales also saw an increase from August after seasonal adjustments.

The average home price dropped by 1% year-over-year to $1,107,291, while the composite benchmark price, reflecting the typical home, decreased by 4.6%.

TRREB CEO John DiMichele highlighted that new mortgage rules, including longer amortization periods, are giving buyers more flexibility, helping to support the market’s recovery.

New listings for September reached 18,089, a 10.5% rise from last year.

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