Toronto market report
October 2026 Toronto Real Estate Market Report: what the new numbers mean for you
Prices dipped from last year, but new listings fell even faster, and in the City of Toronto houses held up while condos softened. Here is the October Toronto real estate market in plain English, what it means if you are buying, selling or sitting on a condo, and the one number to watch going into spring.
By Spiro Vrysellas, Broker, Vrysellas Team, Elevate Realty Inc., Brokerage. Source: TRREB Market Watch, October 2026.
Quick quiz: which home type sold for over asking in Toronto in October?
Semis. In the City of Toronto, semi-detached homes sold for 102% of asking on average, in about 18 days. Section 3 has the full breakdown.
The report at a glance
- 1Are prices going down?
- 2The number to watch
- 3Toronto houses
- 4Toronto condos
- 5Rates and your payment
- 6What it means for you
Are Toronto home prices going down?
Compared to last year, a little. The average GTA home sold for $1,024,108 in October, down 2.7% from October 2025, and the MLS Home Price Index benchmark, which tracks a typical home, was down 4.3%. Sales fell 7.9% to 5,603 homes.
The part most headlines skip: adjusted for the season, the benchmark price, the average price, sales and new listings all edged up from September. This is not a market falling off a cliff. It is a market that has been on sale and is starting to firm up.
Tip: do not judge your move on the GTA average. It mixes condos and houses across the whole region. Look at your home type in your part of the city, which is what sections 3 and 4 do.
The number to watch: new listings
New listings fell faster than sales, and the number of homes for sale is down 10% from a year ago. Fewer choices on the shelf is how a buyer's market starts to turn.
For now, buyers still have room. The GTA sales-to-new-listings ratio is 37.9%, under the 40% range usually read as favouring buyers, with 4.6 months of inventory, and homes sold for 97% of asking on average. Homes averaged 31 days on their current listing, but 49 days once earlier listings of the same home are counted, so pricing right the first time matters.
Buyers come back in spring
GTA sales by month in 2026. Sales more than doubled from January to June; when buyers return to a smaller pool of listings, the balance can shift quickly.
Tip: planning to buy next year? Get ready now: get pre-approved, know your real monthly cost and know exactly what you are looking for, so you can move while there is still choice.
Toronto houses held up
In the City of Toronto, detached and semi-detached sales were actually up from last year, while prices barely moved. Semis were the standout, selling over asking in about two and a half weeks.
| City of Toronto | Sales | Average price | vs last year | Sold vs asking | Days on market |
|---|---|---|---|---|---|
| Detached | 741 | $1,603,886 | -1.2% | 97% | 24 |
| Semi-detached | 266 | $1,225,229 | +0.5% | 102% | 18 |
| Townhouse | 80 | $1,244,686 | 100% | 23 |
By part of the city
| District | Detached avg | Detached sold vs asking | Semi avg | Semi sold vs asking |
|---|---|---|---|---|
| Toronto West | $1,341,658 | 98% | $1,034,568 | 102% |
| Toronto Central | $2,286,228 | 95% | $1,492,597 | 100% |
| Toronto East | $1,141,706 | 100% | $1,115,758 | 105% |
Source: TRREB Market Watch, October 2026. Freehold only, condos are in section 4.
Tip: the good houses still move fast. Have your pre-approval and deposit ready before you fall in love with one. Looking at a specific neighbourhood like Trinity Bellwoods or Corso Italia? My neighbourhood guides have the numbers.
Toronto condos: the buyer's market
Condos are where the softness is. City of Toronto condo apartment sales fell 10.7% from last year and the average price dipped 5.6%, with 5,251 condo apartments for sale against 949 sales, more than 5 for every one that sold.
| City of Toronto | Sales | Average price | vs last year | Sold vs asking | Days on market |
|---|---|---|---|---|---|
| Condo apartment | 949 | $659,214 | -5.6% | 97% | 36 |
| Condo townhouse | 137 | $742,764 | 97% | 40 |
Own a condo and want a house? Condos dipped about 6% while detached dipped about 1%, so the jump got a little bigger. Plan the sale and the purchase as one move, and look at houses with a basement apartment so the rent helps you qualify for a higher price. My buying and selling at the same time guide walks you through it.
Rates went up, lower prices softened the hit
TRREB says monthly payments on an average priced home are a bit higher than a year ago, but still well below 2023 and 2024, because lower prices offset higher borrowing costs.
What does half a point really cost?
Move the rate and see the monthly payment change. Example: an $800,000 mortgage.
Estimates only, Canadian semi-annual compounding. Your rate depends on your lender. Rates: Bank of Canada; inflation: Statistics Canada; both as reported by TRREB.
Tip: you do not control the rate, but you control how ready you are. A pre-approval can hold a rate while you shop. And once you are pre-approved, no new car or financing until you have the keys.
What the October market means for you
You have choice and room to negotiate today, with fewer listings heading into spring. Get ready now so you can act while there is still choice.
Run your real payment and cash to closeFreehold held up, especially semis. Priced right, buyers are still paying asking and more; priced high, homes relist and sit about 2.5 weeks longer.
See what you would walk away withPlan both moves as one so you know your next down payment before you shop, and use your negotiating room on the buying side.
Plan both movesCondo buyers can negotiate hard right now, while houses with a basement apartment are holding firm.
Run an investment reportOctober 2026 market FAQ
Are Toronto home prices going down?
Compared to last year, slightly. The average GTA price in October 2026 was $1,024,108, down 2.7%, and the benchmark price was down 4.3%. Adjusted for the season, prices edged up from September 2026.
Is Toronto a buyer's market right now?
It still leans toward buyers. The GTA sales-to-new-listings ratio was 37.9% in October 2026 with 4.6 months of inventory, and homes sold for 97% of asking on average. New listings are falling faster than sales, so that balance can shift.
Are houses or condos doing better in Toronto?
Houses. In the City of Toronto, detached prices dipped 1.2% and semis rose 0.5%, with semis selling for 102% of asking. Condo apartment prices dipped 5.6% and sales fell 10.7%.
What is the sales-to-new-listings ratio?
It compares homes sold to new homes listed. Under about 40% usually means buyers have more choice, between 40% and 60% is balanced, and above 60% favours sellers.
When does TRREB release the next market report?
TRREB releases its Market Watch early each month. This guide is updated with the November 2026 numbers when they come out in early December.
Keep learning
Free Toronto real estate calculators Trinity Bellwoods neighbourhood guide Corso Italia neighbourhood guide All Toronto real estate guidesMarket data: TRREB Market Watch, October 2026, released November 4, 2026. City of Toronto figures are TRREB's 416 area. Payment examples are estimates only. This is not financial or legal advice. Not intended to solicit buyers or sellers currently under contract.