Sales Weakness Deepened Further

In September, sales in the Toronto metro area edged down to 5,040 units, flat month-over-month, down 10% year-over-year, and 24% below the 10-year average. The decline was in line with the typical seasonal pattern, as sales volumes generally decrease from June through December.

New Listings Rebounded Sharply

In September, new listings rose sharply to 16,500 units, up 37% month-over-month. Listings remained 14% lower year-over-year, moving to 1% above the 10-year average. The increase was in line with the typical seasonal pattern, as sales volumes generally decline from June through December with a brief uptick in September.

Active Inventory Increased

In September, active inventory rose to 26,131 units, up 7% month-over-month. Inventory remained 11% lower year-over-year, while the gap above the 10-year average narrowed to 32%. The increase was in line with the typical seasonal pattern, as active inventory generally decreases from June through December with a brief uptick in September.

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