The Greater Toronto Area real estate market entered October with cautious optimism, but September told a starkly different story. Sales dropped 9% year-over-year as buyers and sellers nationwide grappled with mounting uncertainties—from U.S.-Canada trade tensions to geopolitical instability and rising interest rate concerns.
According to data from the Toronto Regional Real Estate Board, the suburban 905 region was hit hardest, with semi-detached home sales plummeting 13.6% compared to September 2025. Condo apartments in the 905 saw average prices decline 12%, while the GTA’s average price held at $1,006,409.
Real estate professionals attribute the hesitation to a perfect storm of worry: the collapse of U.S.-Canada trade negotiations in late August, fears about the upcoming U.S. midterm elections, and concerns about artificial intelligence and inflation. Even buyers who have been searching for two-and-a-half years are now sitting tight.
However, some bright spots exist. Central Toronto pockets remain active, with location-focused buyers still competing for premium properties. Some purchasers are leveraging rate holds on pre-approved mortgages to secure deals before rates climb further.
Experts predict the fall market will remain subdued through year-end, with many sellers deferring to 2027 in hopes that the economic landscape will improve. For a comprehensive market analysis and broker insights, visit the original Globe and Mail article.
Source: Read the original article
