October marked 13th consecutive month of record-breaking low new home sales in the GTA
Toronto, Nov. 25, 2025 (GLOBE NEWSWIRE) -- Greater Toronto Area, November 25, 2025 – New home sales in the Greater Toronto Area (GTA) have now hit historic lows for the thirteenth straight month, falling even further below last year’s record-setting low for October, the Building Industry and Land Development Association (BILD) said today.
There were 570 new home sales in October, which was down 29 per cent from October 2024 and 81 per cent below the 10-year average, according to Altus Group*, BILD’s official source for new home market intelligence. Historically, new home sales for a typical October in the GTA would be 3,033 units based on the previous 10-year average.
“October 2025 new home sales across the GTA sank below last year’s record low for October,” said Edward Jegg, Research Manager at Altus Group. “Some product is moving, but only under very specific conditions and price points, underscoring the need to bring costs back in line to get customers off the sidelines.”
Condominium apartments, including units in low, medium, and high-rise buildings and stacked townhouses, accounted for 248 units sold in the GTA in October, down 2 per cent from October 2024 and 88 per cent below the 10-year average. As October 2024 set a record-breaking low for new home sales, this October’s year-over-year numbers are now being measured against already what was one of the weakest months on record.
There were 322 single-family home sales in the GTA in October, down 41 per cent from October 2024 and 63 per cent below the 10-year average. Single-family homes include detached, linked, and semi-detached houses and townhouses (excluding stacked townhouses).
New for 2025, BILD and Altus Group are now reporting on sales in Simcoe County. In October, there were 44 single-family new home sales and no condominium apartment sales, with the weighted average price of the single-family new homes at $1,131,591.
Total new home remaining inventory in the GTA decreased slightly compared to the previous month, to 21,241 units, as very little new inventory was added — with only one new single-family project launched during the month. This includes 15,525 condominium apartment units and 5,716 single-family dwellings. This represents a combined inventory level of 23.5 months, based on average sales for the last 12 months — which is the highest inventory level seen to date.
“How many months of record-breaking lows must pass before we see governments taking concrete actions to reduce the costs added to new homes and support consumer confidence in order to avert an industry-wide shutdown that threatens thousands of jobs and the housing supply pipeline for years to come?” said Justin Sherwood, Chief Operating Officer at BILD. “The federal government’s approach, including HST relief only for first-time buyers, is far too limited. We welcome Premier Ford’s recent call for the HST exemption to apply to any purchaser of a new home, not only first-time buyers of homes up to $1 million. Broad action to reduce government added costs must be taken urgently.”
The benchmark price for new condominium apartments in October in the GTA was $1,031,764, which is up 2.5 per cent versus October 2024. The benchmark price for new single-family homes was $1,434,447, which was down 7.4 per cent over the last 12 months.
With more than 1,000 member companies, BILD is the voice of the home building, residential and non-residential land development and professional renovation industries in the Greater Toronto Area. The building and renovation industry provides 256,000 jobs in the region and $39.3 billion in investment value. BILD is affiliated with the Ontario and Canadian Home Builders’ Associations.
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For additional information or to schedule an interview, contact Janis McCulloch at jmcculloch@bildgta.ca (416-617-7994)
*Altus Group should be credited as BILD’s official source of new home market intelligence.
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Janis McCulloch Building Industry and Land Development Association (BILD) 416-617-7994 jmcculloch@bildgta.ca
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