TRREB October 2026 Market Watch: GTA Sales Down 7.9% as New Listings Fall Faster

GTA home sales slipped again in October 2026, but supply shrank even faster. According to the Toronto Regional Real Estate Board's (TRREB) October 2026 Market Watch, released November 4, sales were down 7.9% year over year while new listings fell 11.9% and active listings dropped 10%. Prices are still softer than a year ago, yet on a seasonally adjusted basis both sales and prices edged up from September. For Toronto buyers, that means good negotiating room today with a window that may not stay this wide. For sellers, it means less competition, as long as the price is right.

The October 2026 numbers that matter

All figures below are from TRREB's October 2026 Market Watch, comparing October 2026 to October 2025 across all TRREB areas:

• 5,603 sales, down 7.9% from 6,083
• Average selling price $1,024,108, down 2.7% from $1,052,539
• 14,173 new listings, down 11.9% from 16,080
• 25,098 active listings, down 10.0% from 27,899
• Average listing days on market: 31 (unchanged)
• Average property days on market: 49 (down from 50)

The MLS Home Price Index Composite benchmark was down 4.3% year over year. TRREB also reports a median price of $860,000, about 4.6 months of inventory (trend), and homes selling at an average of 97% of list price across all TRREB areas.

On a seasonally adjusted basis, TRREB says October sales and new listings were up month over month versus September 2026, and both the MLS HPI Composite and the average selling price edged up too.

What sold, and at what price

By major home type across all TRREB areas in October 2026 (year-over-year change in brackets):

• Detached: 2,693 sales (down 4.4%), average $1,310,627 (down 3.2%)
• Semi-detached: 546 sales (down 8.1%), average $1,024,907 (down 0.8%)
• Townhouse: 933 sales (down 11.0%), average $804,416 (down 5.0%)
• Condo apartment: 1,385 sales (down 10.4%), average $621,400 (down 5.8%)

Detached homes held up best on volume, and semi-detached prices were nearly flat year over year. Condo apartments saw the steepest price decline of the four major types.

In the City of Toronto, 2,184 homes sold at an average of $1,075,627 (median $835,000), with 9,526 active listings and about 4.6 months of inventory. Within the city, Toronto East was the tightest pocket: homes sold at an average of 101% of list price in just 26 days on market, with 3.7 months of inventory. Toronto Central had the most supply at 5.1 months of inventory.

Why buyers are still cautious

TRREB President Daniel Steinfeld pointed to uncertainty around inflation, borrowing costs and the economy as the reason many GTA buyers stayed on the sidelines. He added that a Canada-U.S. trade deal and a resolution to the conflict in the Middle East could ease those concerns and renew interest in homeownership heading into 2027.

TRREB Chief Information Officer Jason Mercer noted that buyers have had substantial negotiating power on price over the past year, and that lower selling prices have helped offset the impact of higher borrowing costs on monthly mortgage payments.

The rate backdrop in the report: the Bank of Canada overnight rate at 2.5%, prime at 4.5%, and posted mortgage rates of 5.49% (1-year), 6.05% (3-year) and 6.19% (5-year) for October. Toronto's unemployment rate was 6.9% in September, and inflation ran at 3.1% year over year.

The Starke Group's take

Here is what we think most headlines will miss: the gap between sales and supply. Sales fell 7.9%, but new listings fell 11.9%. That is the second month in a row where fresh supply has dropped faster than demand (in September, sales were down 9.0% and new listings were down 14.4%, per TRREB). Fewer new listings means buyers have less to choose from each week, even though overall inventory is still healthy.

Add in the seasonally adjusted month-over-month gains in both sales and prices, and October looks less like a market sliding lower and more like one finding its footing. We are not calling a turn. We are saying the easy buyer's market of the past year is getting a little less easy, block by block.

What this means for Toronto buyers

1. Negotiate, but with homework. At 97% of list on average, there is still room to negotiate across much of the GTA. In Toronto East, homes averaged 101% of list, so lowball offers there will likely miss.
2. Watch the condo opportunity. Condo apartment prices were down 5.8% year over year to an average of $621,400. If you have been waiting for a better entry point, this segment has given you one.
3. Get rate-ready before you shop. With 5-year posted rates at 6.19%, a firm pre-approval and a clear monthly budget matter more than ever.
4. Do not wait for "the bottom." If supply keeps shrinking and buyers come back in the spring, the best-priced homes tend to go first.

What this means for Toronto sellers

1. Price to today's comps, not last year's. The average price is still down 2.7% year over year. Homes priced to the last 30 to 60 days of sales are the ones getting offers.
2. Use the lighter competition. With new listings down 11.9%, a well-presented home stands out more than it did a year ago.
3. Know your micro-market. Toronto East moved in 26 days at above asking on average, while Toronto Central had more than five months of inventory. Your strategy should match your street, not the GTA headline.
4. Plan your timing. Listing in late fall can mean fewer competing listings. Listing in spring can mean more buyers. We can help you weigh both for your home.

For more context, see our breakdown of last month's TRREB report.

FAQ

How many homes sold in the GTA in October 2026?
GTA REALTORS reported 5,603 home sales through TRREB's MLS System in October 2026, down 7.9% from 6,083 in October 2025, according to TRREB's Market Watch.

What was the average home price in the GTA in October 2026?
The average selling price was $1,024,108, down 2.7% year over year. The MLS HPI Composite benchmark was down 4.3% year over year, per TRREB.

Is it a buyer's market in Toronto right now?
Buyers still have negotiating power, with homes selling at an average of 97% of list price and about 4.6 months of inventory across all TRREB areas. But new listings fell faster than sales in October, and some pockets like Toronto East are selling above asking.

What was the average price in the City of Toronto in October 2026?
In the City of Toronto, 2,184 homes sold at an average price of $1,075,627 and a median of $835,000, according to TRREB.

Want to know what October means for your street?

The Starke Group, led by Brett Starke and powered by RARE Real Estate, reads the TRREB numbers alongside live neighbourhood comps every month. Whether you are buying, selling or just planning ahead, connect with us and we will put the market data and your street-level numbers in the same conversation.

Source: Toronto Regional Real Estate Board, Market Watch, October 2026. Statistics quoted are TRREB's; analysis and opinions are The Starke Group's.