September brought a welcome boost in both prices and activity across Toronto’s housing market. After a quieter summer, the fall market kicked off with stronger numbers and renewed buyer confidence.
While September often brings more movement after the slower summer months, what’s especially interesting this year is that sales have been trending upward for three straight months, suggesting that the momentum may be more than just seasonal.
Sales Activity Is Picking Up
Toronto recorded 2,049 home sales this September, compared to 1,801 in September 2024.
That’s a healthy year-over-year increase, showing that more buyers are re-engaging with the market even as affordability challenges continue.
It’s a sign that confidence is gradually returning, and that both buyers and sellers are adjusting to borrowing costs and more balanced conditions.
Detached Homes
The average price for a detached home in Toronto came in at $1,686,013, up 10.6% from August and almost identical to last year’s numbers.
This jump is largely seasonal, as more higher-end properties tend to sell in early fall. Still, it’s encouraging to see detached homes holding steady on a year-over-year basis, especially after a few months of softer demand.
Semi-Detached Homes
Semi-detached homes averaged $1,181,672 in September – a 4.4% increase from August, though still down about 9% year-over-year.
This segment has been particularly sensitive to rate pressure, but the recent lift shows that demand in established neighbourhoods remains strong when homes are priced appropriately.
Townhouses
Townhomes averaged $929,597, which is up 1.5% month-over-month and roughly 5% lower year-over-year.
Townhouses continue to appeal to move-up buyers who are priced out of detached homes but want more space than a condo. That steady demand has helped this segment remain relatively stable throughout the year.
Condos
Condo prices averaged $681,115, a 2% increase from August and 3.8% lower year-over-year.
The condo market remains the most price-sensitive segment, with buyers being selective and plenty of inventory available. Motivated sellers are keeping conditions balanced, giving buyers some room to negotiate while still supporting steady sales activity.
Looking Ahead
The month-over-month increases across all property types make sense – September typically brings renewed momentum – but the real test will be October.
Comparing two active fall months will reveal whether this is the start of a longer-term recovery or simply a seasonal uptick.
Still, three consecutive months of higher year-over-year sales is a positive sign. It suggests that confidence is returning to the Toronto housing market and that we may be entering a more balanced, steady phase heading into the end of 2025.
You Have Questions, We Have Answers.
Whether you’re buying or selling a home, we’re happy to help! Click the button below to get in touch.
