TORONTO -- Real estate agents sold a record 10,563 homes in October, a 25.1 per cent increase from October 2019 as the housing market recovers from spring's COVID-19 slowdown, Toronto Regional Real Estate Board said on Wednesday.

But the recent success of the housing market has not benefited all homeowners equally. While detached homes in the suburbs sold for premiums, the downtown condo market has flattened.

Compare that to the average prices of detached homes, which rose 14.8 per cent to $1,204,844.

"I think you're seeing a shift in terms of where people are purchasing," says Freddy Mak, co-founder Ferrow Real Estate Inc.

Simcoe County has seen benchmark house prices rise more than 20 per cent from this time last year, and Durham Region prices are up more than 18 per cent. In the city, the benchmark price is up a little over 7 per cent from October 2019.

"Working from home, desire for privacy and private outdoor space -- that's what you're getting in suburban markets... People do not want to rub shoulders with each other."

The board's chief market analyst Jason Mercer says that the housing market has now caught up to where it was this time last year, despite a near halt in home sales this spring when the COVID-19 lockdown began.

"Year-to-date home sales through October were above last year's level," Mercer said. "With this being said, we have not accounted for all of the pent-up demand that resulted from the spring downturn."

Mak said he understands why the hot real estate market may be puzzling to onlookers, wondering how prices are rising amid an uneven economic rebound. Low interest rates are one factor helping homebuyers stomach the big purchase, Mak said.