October in Toronto always signifies change — fall colours, sweater weather (though not yet), and this year in particular the city is abuzz with post-season baseball. The real estate market is following suit, although it is happening in increments. No grand slams but rather a sense that momentum is building one base hit at a time.

September numbers back up what we have been seeing on the ground. Toronto-area home sales rose 8.5% compared with the same month last year. Prices, meanwhile, remain softer than peak pandemic levels — the average selling price is still down about 5% year-over-year — but they ticked up slightly from August. And perhaps most telling, mortgage advisors are reporting a noticeable increase in applications since the Bank of…

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