Row
Sales continued to slow in October, contributing to the year-to-date decline of over 15 per cent. Meanwhile, new listings eased, but not as much as sales, leaving the sales-to-new-listings ratio below 50 per cent for the second month in a row. This also prevented any significant adjustment in inventory levels, which were stable compared with September and five per cent higher than October 2025. With 241 sales and 1,069 units in inventory, the months of supply pushed up to 4.4 months, showing more persistent signs of oversupply.
Competition from the new home market and added rental supply choice has weighed on resale row homes, resulting in persistent downward pressure on prices over the past four months. In October, the unadjusted benchmark price was $407,500, more than five per cent lower than October 2025. While year-to-date prices are lower than last year across every district, the North East and East districts reported the steepest declines at more than 11 per cent.
Apartment Condominium
With over five months of supply, apartment condominiums continue to struggle with excess supply and price declines. Easing rental rates and competing product in the new home market have lowered demand for resale condominiums. In October, the pullback in new listings helped drive further inventory declines. However, the 1,691 units in inventory were still 13 per cent higher than typical October levels.
Persistent price adjustments have left the unadjusted benchmark price at $288,800 in October, eight per cent lower than last year and 15 per cent below the peak price reached in August 2024. Downward pressure on prices over the past two years has erased much of the gains reported since prices recovered in 2023. Prices have eased across all districts in the city, with the largest declines occurring in the North East and East districts.
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