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🏡 GTA Housing Market Update: October 2026 Numbers Are In
Hi everyone,
The Greater Toronto Area (GTA) housing market remained cautious in October, as economic uncertainty, inflation and borrowing costs continued to influence buyer decisions.
Home sales and new listings were both lower than a year ago, while average selling prices remained below October 2025 levels. Although buyers continue to benefit from negotiating opportunities in many market segments, fewer properties coming onto the market could gradually change the balance between supply and demand.
Here's a closer look at how the numbers played out across the GTA in October.
🏡 Sales Activity
Total Home Sales: 5,603 (↓ 7.9% YoY)
Insight: Buyer activity remained below last year's levels in October, reflecting continued caution around borrowing costs, employment security and the broader economy.
However, lower home prices compared with October 2025 are helping offset some of the impact of higher borrowing costs. For buyers who are financially prepared, today's market continues to offer opportunities to negotiate and make informed decisions without the same level of competition experienced during stronger market periods.
📦 New Listings & Inventory
New Listings: 14,173 (↓ 11.9% YoY)
Active Listings: 25,098 (↓ 10.0% YoY)
Both new and active listings declined compared with October 2025, indicating that fewer properties were available to buyers than a year ago.
Buyer Advantage: Buyers continue to have negotiating power in many neighbourhoods, particularly where properties have been on the market longer or are priced above current market expectations.
However, with fewer new listings entering the market, buyers may find less selection in certain property types and desirable neighbourhoods. Well-priced, move-in-ready homes can still attract serious interest.
💰 Pricing Trends
Average Selling Price (GTA-wide): $1,024,108 (↓ 2.7% YoY)
MLS® HPI Composite Benchmark: ↓ 4.3% YoY
Both the average selling price and the MLS® HPI Composite Benchmark remained below October 2025 levels.
However, on a seasonally adjusted basis, both measures edged higher compared with September 2026, suggesting some month-over-month price stability despite continued uncertainty.
Seller Note: Today's buyers remain selective and price-conscious. While lower inventory may help reduce competition among sellers, realistic pricing is still essential.
Professional presentation, strategic marketing and an understanding of recent neighbourhood sales can make a meaningful difference in attracting qualified buyers.
📈 Market Dynamics
- GTA home sales declined 7.9% compared with October 2025.
- New listings fell 11.9% year over year, a larger percentage decline than sales.
- Active listings were 10.0% below last year's levels.
- The average GTA selling price was 2.7% lower than in October 2025.
- Both the average price and MLS® HPI Composite Benchmark edged higher month over month on a seasonally adjusted basis.
- Buyers continued to benefit from substantial negotiating power, while inflation, borrowing costs and broader economic uncertainty influenced purchasing decisions.
🏘 Segment-Specific Insights
Detached Homes
GTA Average Price: $1,310,627 (↓ 3.2% YoY)
• Toronto (416): $1,603,886
• GTA (905): $1,199,303
Semi-Detached Homes
GTA Average Price: $1,024,907 (↓ 0.8% YoY)
Townhomes
GTA Average Price: $804,416 (↓ 5.0% YoY)
Condominium Apartments
GTA Average Price: $621,400 (↓ 5.8% YoY)
• Toronto (416): $659,214
• GTA (905): $539,094
📝 In Summary
• GTA home sales remained below last year's levels in October.
• Both new and active listings declined, reducing the number of available properties compared with October 2025.
• The average selling price was 2.7% lower year over year, helping improve affordability compared with last fall.
• Buyers continued to benefit from negotiating opportunities in many market segments.
• Prices showed a modest month-over-month improvement on a seasonally adjusted basis.
• Strategic pricing, professional presentation and effective marketing remain essential for sellers.
🔮 Looking Ahead
• Lower listing activity could gradually reduce buyer choice, particularly in desirable neighbourhoods and property segments.
• Buyers may continue to benefit from more affordable prices compared with last year, although borrowing costs and economic uncertainty remain important considerations.
• If buyer confidence improves while new listings remain limited, competition could increase for well-priced properties.
• Future Bank of Canada decisions, inflation trends and employment conditions will continue to influence housing market activity.
• Whether you're buying or selling, success depends more on understanding your local market and having the right strategy than trying to perfectly time the market.
🏡 What Does This Mean for You?
Buyers: Lower prices compared with last year and continued negotiating opportunities make this a market worth exploring if you're financially prepared. Understanding local inventory, recent comparable sales and your financing options can help you make a confident decision.
Sellers: Buyers are still active, but they're approaching purchases carefully. Setting a realistic asking price, preparing your home properly and investing in professional marketing can help your property stand out.
Every neighbourhood — and every client — has a unique story.
Whether you're buying your first home, preparing to sell, investing, or simply curious about what your property might be worth in today's market, I'm always happy to answer your questions and help you make informed real estate decisions.
Brian
Brian McIntyre Real Estate | RE/MAX Hallmark®
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