October looked a lot like September. Buyers stayed cautious, worried about inflation, borrowing costs and the economy. Sellers stayed cautious too: new listings fell even faster than sales. The difference is that prices have stopped sliding as quickly. On a seasonally adjusted basis, TRREB said both sales and prices edged up from September.
Fewer sales, and even fewer new listings
GTA REALTORS® reported 5,603 sales through TRREB's MLS® System in October 2026, down 7.9 per cent from 6,083 a year earlier. New listings fell further, to 14,173, down 11.9 per cent. There were 25,098 homes for sale at month end, 10 per cent fewer than a year ago.
On a seasonally adjusted basis, TRREB reported that both sales and new listings were up from September. Homes took an average of 31 days to sell, the same as a year ago, and sold for an average of 97 per cent of asking. About 38 per cent of new listings found a buyer, and supply sat at 4.6 months of inventory.
"GTA homebuyers continued to benefit from substantial negotiating power on price over the past year."— Jason Mercer, TRREB Chief Information Officer
Prices: below last year, but holding steady
The average selling price was $1,024,108, down 2.7 per cent from $1,052,539 a year earlier. Averages move with whichever homes happen to sell, so the better guide is the MLS® Home Price Index, which prices a typical home the same way every month. Its composite benchmark was $916,400, down 4.3 per cent year over year and about 13 per cent below three years ago. It was virtually unchanged from September ($917,600), and TRREB said that on a seasonally adjusted basis both the benchmark and the average price edged up. That may be a sign prices are levelling off, though one month isn't a trend.
What sold, and for how much
Average prices across the TRREB area in October, with the change from a year earlier:
Semi-detached homes held their value best. In the City of Toronto, the average detached price was down only 1.2 per cent and townhouses were up 4.2 per cent. Condo apartments fell the most, down 5.8 per cent on average.
The benchmark tells the same story. TRREB's detached benchmark is down 4.4 per cent, semis and freehold row houses 3.8 per cent, condo townhouses 6.6 per cent and condo apartments 7.3 per cent.
Region by region
| Region | Sales | Median price | Benchmark · YoY | Months of inventory |
|---|---|---|---|---|
| Durham | 589 | $740,000 | $798,100 · −5.1% | 3.6 |
| City of Toronto | 2,184 | $835,000 | $908,800 · −3.6% | 4.6 |
| Halton | 592 | $953,750 | $966,000 · −1.1% | 4.2 |
| Peel | 1,017 | $831,000 | $858,800 · −4.6% | 4.9 |
| York | 1,038 | $1,050,000 | $1,071,700 · −6.8% | 5.0 |
Sales, median price and months of inventory (TRREB's trend measure) from TRREB's October 2026 Market Watch. Benchmark is the October 2026 MLS® HPI composite and its change from October 2025.
Durham is the tightest market in the TRREB area, with 3.6 months of inventory, and its homes sold fastest, in 29 days on average. York has the most supply of the five big regions and the biggest price drop in the TRREB area. Halton has held its value best of the five, and Burlington's benchmark is now slightly above last year's. Toronto's east end is still the busiest part of the GTA: homes there sold for 101 per cent of asking, and in Leslieville and Riverdale (E01) for 106 per cent.
What it means for you this winter
If you're a buyer, you still have the upper hand on price in most of the GTA: the typical home sells for 97 per cent of asking after a month on the market. But prices have stopped falling quickly, and fewer homes are being listed. The longer the wait, the less of that advantage may be left.
If you're a seller, you face less competition than a year ago, because new listings are down almost 12 per cent. Buyers are still careful, so price to this fall's comparables, not last spring's. In the tight pockets (Durham, Burlington and Toronto's east end) well-priced homes are still selling quickly.
If you're an investor, condo apartments and condo townhouses are where prices have fallen furthest, down 7.3 and 6.6 per cent on the benchmark. Run the numbers on today's prices and today's rents, not on a rebound.
"While we continue to experience shorter-term volatility in the ownership housing market, we can't lose track of the fact that the permanent population will continue to grow in our region."— John DiMichele, TRREB CEO
Figures are aggregate market statistics from TRREB's October 2026 Market Watch (released 4 November 2026) and the TRREB/Altus MLS® Home Price Index, covering all home types in the TRREB market area. "Semi / freehold town" is TRREB's attached single-family benchmark; TRREB's townhouse benchmark covers condominium townhouses. This article is general market information, not financial, mortgage or investment advice. Please consult a licensed professional about your situation.
