Dear Friend,
October is here, and while the fall real estate market is typically a busy time of year, September was quieter than many expected.
Across the GTA, 5,040 homes sold in September, down 9% compared to last year. New listings also declined, with 16,500 homes entering the market, a decrease of 14.4% year-over-year. With ongoing uncertainty surrounding borrowing costs, tariffs, and the broader economy, it's understandable that some buyers and sellers are taking a more cautious approach.
Despite this, opportunities remain. Some buyers are finding greater flexibility and negotiating room, while sellers who approach the market with realistic expectations and a thoughtful strategy are still making successful moves.
Another important topic this month is the upcoming municipal elections on October 26. Housing affordability and supply remain major concerns across the GTA and Simcoe County. The decisions our next mayors and councillors make regarding development, housing costs, and infrastructure will help shape our communities and the real estate market for years to come.
It's also worth remembering that real estate plays a significant role in our local economy. Every home sale supports a wide range of businesses, from contractors and movers to painters, landscapers, and local retailers. A healthy housing market benefits far more than just those buying and selling homes.
While it's difficult to predict exactly when confidence will return, we remain optimistic about the opportunities ahead. If you're considering a move, or simply have questions about what's happening in your neighbourhood, we'd love to share our insight and help you explore your options.
As always, we're never too busy for your referrals, and we'll take great care of the
people you send our way.
Have a wonderful month!
Warmly,
Your Friends in Real Estate
Hayden Dilling and Rachel Grace