This month’s biggest headline is the rebound in sales volume this October, which is up 65% compared to October 2023 and 51% compared to October 2022. While the number of sales is still down significantly from earlier years (pre-interest rate hikes!), recent interest rate reductions are starting to impact buyer confidence, and buyers are returning to the market. Year to date, there has been an increase in new listings and active listings compared to the same periods in 2023 and 2022, but there is also an uptick in the sales-to-new listings ratio, indicating that more product is being absorbed. As a result, the average price for freehold homes in West Toronto has continued to climb. Year-to-date, prices have increased 1.63% relative to the same period last year, and when looking at October alone, prices are up 2.80%  year over year. That said, the average cost is still lower than the absolute peaks we saw in 2022.