Market updates

Toronto real estate market update: October 2026

GTA home sales fell 7.9% from a year earlier in October 2026 and the benchmark price is down 4.3%, while Toronto rents rose for the first time in three years. The numbers, condos, rents and rates, and what they mean if you plan to buy, sell or invest.

Published November 6, 2026

In short

GTA home sales fell 7.9% from a year earlier in October 2026, and the MLS® HPI composite benchmark is down 4.3%, at $916,400.
New listings dropped faster than sales (down 11.9%), so supply is tightening slightly: 4.6 months of inventory, and homes sold for 97% of list price on average.
Toronto asking rents for apartments and condos rose 1.6% year over year, the first increase in three years. The Bank of Canada raised its rate to 2.5% on October 28.

The Toronto Regional Real Estate Board (TRREB) released its October 2026 figures on November 4. Here is what they show, along with condo, rent and interest rate data from the same period, and what it means if you plan to buy, sell or invest this winter. For the September picture, see our fall 2026 market update.

October 2026 at a glance

All TRREB areas	October 2026	Change from a year earlier
Home sales	5,603	−7.9%
New listings	14,173	−11.9%
Active listings	25,098	−10.0%
Average selling price	$1,024,108	−2.7%
Median selling price	$860,000
MLS® HPI composite benchmark	$916,400	−4.3%
Months of inventory (trend)	4.6
Average days on market (LDOM)	31	No change
Average property days on market (PDOM)	49	−2.0%
Average sale-to-list price ratio	97%

On a seasonally adjusted basis, TRREB reports that sales, new listings, the benchmark price and the average price all edged up from September. Its chief information officer said buyers “continued to benefit from substantial negotiating power on price,” and that lower prices have offset much of the effect of higher borrowing costs on monthly payments.

Where prices stand

The average selling price is down 2.7% from October 2025 and the benchmark is down 4.3%. Through the first ten months of 2026, GTA sales totalled 52,694 at an average price of $1,025,156. TRREB’s forecast for the year called for 60,000 to 70,000 sales and an average price of $1.0 million to $1.03 million. Reaching the low end on sales would take about 7,300 more in November and December; on price, the market remains inside the forecast range.

In the City of Toronto, 2,184 homes sold at an average of $1,075,627 and a median of $835,000. Conditions vary within the city: homes in Toronto East sold for 101% of list price on average, compared with 96% in Toronto Central.

By type of home

All TRREB areas, October 2026	Sales	Sales change	Average price	Price change
Detached	2,693	−4.4%	$1,310,627	−3.2%
Semi-detached	546	−8.1%	$1,024,907	−0.8%
Townhouse	933	−11.0%	$804,416	−5.0%
Condo apartment	1,385	−10.4%	$621,400	−5.8%

Semi-detached homes again held their value best, while condo apartments and townhouses saw the largest declines in both sales and price. In the City of Toronto, the average detached home sold for $1,603,886 (down 1.2%) and the average condo apartment for $659,214 (down 5.6%). In the surrounding regions, detached prices fell 4.7% and condo apartment prices 6.1%.

Condos: new sales recovering from a very low base

Urbanation counted 760 new condo sales across the Greater Toronto and Hamilton Area in the third quarter of 2026, double the total a year earlier but still 78% below the ten-year average for a third quarter, according to Urbanation data reported by CP24 on October 21, 2026. Investment groups buying in bulk accounted for 339 of those units, or 45%.

On the resale side, the City of Toronto had 5,251 condo apartments listed against 949 sales in October, about five and a half months of supply. The MLS® HPI apartment benchmark across the GTA is $521,600, down 7.3% from a year earlier, the steepest decline of any home type.

Rents may have turned a corner

Toronto’s average asking rent for apartments and condos rose 1.6% from October 2025, the first year-over-year increase after 36 consecutive months of decline, according to Rentals.ca and Urbanation data reported by Global News on November 5, 2026. Nationally, the average asking rent was $2,036, down 3.2%. Several GTA cities outside Toronto, including Oakville, Markham, Vaughan and Mississauga, still saw rents fall. For investors, one month of growth is not yet a trend, so cash-flow models should still be built on today’s rents.

Interest rates

The Bank of Canada raised its policy rate by a quarter point to 2.5% on October 28, its first change of 2026, and said a further increase could be needed. Its next announcement is on December 9. Variable-rate mortgages and lines of credit move with prime, which is now 4.5%; fixed-rate borrowers are not affected until renewal. Our article on what the rate increase means for GTA homeowners, buyers and sellers covers this in more detail.

Separately, the federal budget tabled on November 5 proposes to extend the ban on foreign purchases of existing homes to January 1, 2029, while exempting new homes. See our guide to the foreign buyer ban.

What this means for you

If you are buying

You still have choice and negotiating room, especially on condos and townhouses. With rates rising, get a pre-approval with a rate hold before you start viewing seriously, and budget for payments at today’s rates, not last year’s.

If you are selling

Fewer new listings means slightly less competition, but buyers are price-sensitive. Price to recent comparable sales in your area, and expect to negotiate: homes are selling for about 97% of list price, on average within about a month.

If you are investing

The first rise in Toronto rents in three years is worth watching, but buy on today’s rents and today’s rates. If you already own condos, our guide on whether GTA condo investors should sell or hold sets out how to decide.

Want the numbers for your street? Ask for a home evaluation and a broker will call you back within 3 hours, guaranteed.

Figures are as published by the sources below and may be revised. This is general market information, not financial advice.