Toronto’s Housing Market Turns a Corner as Sales Surge

Toronto's housing market saw a significant rebound in October, with low-rise home sales up 45% and condominium sales up 32% year over year. This increase is partly due to last year's low sales volumes. Notably, sales outpaced new listings, leading to a decrease in inventory levels. The average house price remained stable at $1,362,505, while the average condo price fell to $713,546. Despite the uptick in sales, the market is still considered slow, with many buyers anxious about future price increases.