Do you want content like this delivered to your inbox?

Shifting Trends and Steady Prices - What Happened in October 🏡

North Group
Nov 3 3 minutes read

Understanding today’s market is no easy feat. Even market experts can’t fully predict where we are headed.  Feeling uneasy and not quite sure what your next step should be right now?  We get it, and are here to help!

What Is Actually Happening?🤔

It’s no secret that pretty much all buyers, especially first-timers, are feeling the pinch of high interest rates, leading to a significant shift from homeownership to renting, putting pressure and demand on the rental market.

Even though there has been a drop in the overall number of sales since last year, the number of new homes (and condos!) for sale has risen compared to the same time a year ago. There’s also been a minor (relatively speaking) increase in prices. 

Bottom line, rigid qualification requirements continue to discourage buyers from entering the market, moving up the property ladder or even seeking better rates.

Despite it all, average sale prices have stayed somewhat consistent, and good news! An increase in new listings is providing more choices for motivated and qualified buyers. 

Let’s Look Closer At The Numbers 🔢

Sales are up 0.09% since September

But down 5.80%  since last year

New Listings are up 38% since last year

But down 12.93% since September

Prices are up 3.50% year over year

But down 0.58% since last month

Average sale price is: $1,125,928

Average days on market = 21 Days

What You Need To Know Right Now 🔎

No matter where you are at in your real estate journey, there is opportunity for you!

Buyers, this is a hopeful time and here’s why: homes are not dramatically over priced and when putting in offers, you’ll likely not face a bidding war anytime soon (although we say that lightly because we are still seeing a few.) Some sources predict that home prices will continue to slowly decline, creating potential opportunities for buyers who have been priced out of the market in recent years (source: Forbes).

Investors, In light of the current market conditions, this is your opportunity to get into the market as the need for rental homes is increasing by the day!

Sellers, you have to price strategically. A solid sales and marketing plan is an absolute must to navigate today’s unprecedented market conditions.

Looking ahead, while affordability and uncertainty continue to impact the market, the demand for housing remains strong due to the GTA’s population growth and resilient economy. Phew!

Remember, we're here to provide you with insights and guidance to help you navigate your real estate journey. Feel free to reach out to us if you have any questions or would like to discuss your options further. 💪🏼🏠

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info

Terms of Use

This website is operated by North Group/Amy Youngren, REALTOR®, a Salesperson who is a member of The Canadian Real Estate Association (CREA). The content on this website is owned or controlled by CREA. By accessing this website, the user agrees to be bound by these terms of use as amended from time to time, and agrees that these terms of use constitute a binding contract between the user, North Group/Amy Youngren, REALTOR®, and CREA.


The content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically prohibited. Prohibited uses include commercial use, “screen scraping”, “database scraping”, and any other activity intended to collect, store, reorganize or manipulate the content of this website.


REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA’s By-Laws, Rules, and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the professional real estate services provided by members of CREA.

Liability and Warranty Disclaimer

The information contained on this website is based in whole or in part on information that is provided by members of CREA, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members, and assumes no responsibility for its completeness or accuracy.


North Group/Amy Youngren, REALTOR® may at any time amend these Terms of Use by updating this posting. All users of this site are bound by these amendments should they wish to continue accessing the website, and should therefore periodically visit this page to review any and all such amendments.