The Greater Toronto Area (GTA) new home market has completely fallen off a cliff, and practically nobody is willing to risk investing in real estate as sales figures continue their race to the bottom. The shift in demand has hit the condo market hardest, with sales figures dropping to laughably low levels last month. This figure represents just about one-third of the 145 condos sold in the city the previous October, and a mere fraction of the 457 sold in October 2023. Single-family home sales also suffered in October, with just 322 sales region-wide wide marking a 41 per cent drop year-over-year. Year-to-date, 714 Toronto condos have sold this year, compared to 1,851 at this time in 2024 and 4,985 by the end of October 2023.