The GTA Housing Market: What October's Numbers Tell Us

The Greater Toronto Area real estate market continues to experience changes as buyers and sellers adjust to economic uncertainty, borrowing costs, and shifting housing prices.

According to the Toronto Regional Real Estate Board (TRREB), October 2026 recorded 5,603 home sales, representing a 7.9% decrease compared with October 2025. The average selling price reached $1,024,108, down 2.7% year-over-year. New listings also declined by 11.9%, with 14,173 properties entering the market.

Although sales activity remains lower than last year, seasonally adjusted sales and new listings increased compared with September. This suggests that some activity is returning to the market despite ongoing uncertainty.

For buyers, lower prices compared with last year may create opportunities to explore properties that were previously outside their budget. However, mortgage affordability, employment stability, and future expenses remain important considerations.

For sellers, the current market highlights the importance of realistic pricing and strong property presentation. Buyers have more opportunities to compare homes, making it essential for sellers to understand their local competition.

The takeaway: The GTA market continues to evolve. Buyers and sellers who understand current conditions and prepare carefully may be better positioned to make informed decisions.

3 Things Buyers Should Know This November

1. Mortgage affordability matters

Interest rates, mortgage terms, and monthly expenses can significantly affect your purchasing power. Review your budget before beginning your search.

2. Compare properties carefully

Look at recent sales in the neighbourhood rather than relying only on asking prices. Similar properties can provide a better understanding of market value.

3. Negotiation is still important

A changing market may create opportunities to negotiate price, closing dates, or other conditions. Every property is different, so research remains essential.

A Note for Sellers

Preparing your home for the market does not always require expensive renovations. Clean spaces, neutral presentation, good lighting, and professional photography can help make a property more appealing.

Reviewing comparable sales with a real estate professional can also help establish a competitive asking price.