Toronto's housing market in October 2025 saw a 5% year-over-year price decline, with average home prices at $956,800. Single-family homes dropped 5.3%, townhouses 6.7%, and condos 7.4%. Sales fell 9.5%, while new listings rose 2.7%, creating a buyer's market with a 38% sales-to-new-listings ratio. Average rent decreased 3.5% to $2,551. Lower prices and mortgage rates improved affordability, but buyers remain cautious amid economic uncertainty.