In October 2024, the average GTA home price reached $1.135M, up 2.5% from September and 1.1% year-over-year. Sales surged to 6,658, marking a 33.3% rise from last month and a 44.4% jump from October 2023.
Sales volumes rose across all segments, led by a 37.2% increase in semi-detached homes and as low as 31.2% in condos, showing a shift in buyer preferences toward low-rise options. Despite this increased activity, price increases remained modest, and the average days on market held at 43, indicating a cautious buyer approach.
Recent rate cuts likely had a role in boosting buyer interest, but high inventory kept price growth in check. This balance of affordability and supply created a stable market where demand was strong, yet price gains remained moderate.