Canadian home sales recorded through MLS® Systems declined by 1.7% in September 2025 compared with August, breaking a string of monthly gains. Despite the slight drop in activity, total sales were still 5.2% above those in September 2024, making it the most active September for home sales since 2021. The monthly decline was driven by lower sales in major markets such as Greater Vancouver, Calgary, Edmonton, Ottawa, and Montreal, while gains in the Greater Toronto Area and Winnipeg helped support overall national activity. 
New listings edged down 0.8% month over month, and the sales-to-new-listings ratio eased slightly, remaining within a range consistent with balanced market conditions. The MLS® Home Price Index was nearly unchanged and the national average home price rose slightly year over year. Inventory levels held at the lowest national level since earlier in the year, and CREA analysts noted that despite the slight pause in the trend of rising sales, overall activity remains at its highest September level in four years and is expected to continue gaining momentum.
Source: CREA
