Reviewing the latest GTA market data for late Q3, we see some notable shifts: home sales reached 5,040, down about 9% from last year, but new listings dropped even more sharply to 16,500—a 14% year-over-year decline. This resulted in a slightly tighter sales-to-new-listings ratio, improving to roughly 31% from 29%. However, it’s important to note that this change was driven by fewer homes coming to market, not increased buyer demand. Both average and benchmark selling prices slipped by around 5% compared to last year. Active listings wrapped up Q3 at 26,100, also down 9%, keeping inventory stable at approximately 5.2 months of supply. On average, properties spent 34 days on the market, but the real picture is closer to 51 days when relisted properties are factored in—a reminder that surface statistics can sometimes mislead. While the raw average price edged up month-over-month to $1.01M, adjusted prices continued to soften. For those reviewing comparable properties, the smaller inventory offers a fresh perspective, but it doesn’t automatically translate to higher asking prices. As someone who’s guided clients through over 450 transactions and stays engaged with market trends and industry best practices, I find that understanding these details helps set realistic expectations and strategies in today’s evolving market.
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