Overview
- Toronto reported 5,765 seasonally adjusted sales in September, up 2% from August yet 27% below the 10‑year average, with the home price index down 0.5% month over month and 5.6% year over year as condo values led declines.
- Greater Vancouver sales rose 1.2% from a year ago but sat 20.1% under the 10‑year seasonal average, while total listings climbed 14.4% year over year and the benchmark price fell 3.2% annually and 0.7% from August.
- Calgary’s supply jumped with 3,782 new listings versus 1,720 sales, lifting inventory to 6,916 units (up 36% year over year), pushing months of supply to four and driving apartment benchmark prices down more than 6% annually.
- London, Ontario, shifted decisively to buyers’ territory as only about three in ten new listings sold, active inventory neared 3,000, and the average resale price dropped to $622,805.
- Local boards and economists pointed to the Bank of Canada’s recent rate cut as a potential boost for fall activity, though conditions remain buyer‑tilted in Ontario and British Columbia and closer to balanced in the Prairies, Atlantic Canada and Quebec.