The October real estate numbers are in, and they tell us that buyers across the Greater Toronto Area are still proceeding cautiously.

According to the Toronto Regional Real Estate Board’s latest Market Watch report, 5,603 homes sold across the GTA in October, down 7.9% from the same month last year. The average selling price was $1,024,108, a decline of 2.7%.

Economic uncertainty and higher borrowing costs continue to affect buyer confidence. But there are a few developments in the latest figures that I think are worth a closer look.

Fewer Buyers, but Also Fewer Listings

One of the more interesting developments is that new listings declined by 11.9%, a larger percentage drop than sales.

Active listings also fell 10% compared with October of last year. That means buyers may have fewer properties to choose from, even though overall sales remain relatively weak.

TRREB also reported that sales and new listings increased from September on a seasonally adjusted basis. The average price and benchmark price edged higher on that same monthly basis.

I wouldn’t interpret one month’s improvement as proof that the market has turned around. However, these are trends worth following as we move toward the end of the year.

What About Toronto’s Condo Market?

Condominiums remain one of the more challenging parts of the GTA housing market. The average condo apartment sold for $621,400 in October, down 5.8% compared with a year ago. Condo apartment sales also declined 10.4%.

Detached homes, meanwhile, averaged $1,310,627 across the GTA, a year-over-year decline of 3.2%.

Within the City of Toronto, 2,184 homes of all types sold during October at an average price of $1,075,627.

These differences illustrate why it’s important to look beyond the overall GTA average. A downtown condo, a townhouse and a detached home can face very different levels of competition.

What Does This Mean for Buyers and Sellers?

For buyers: There are still opportunities to negotiate, particularly where listings have been on the market for some time. However, fewer new listings could reduce your choices in certain neighbourhoods or price ranges.

For sellers: Competitive pricing remains essential. Buyers have access to recent sales information and can easily compare similar properties. An asking price based on what a property might have sold for two or three years ago is unlikely to be persuasive.

For homeowners planning to buy and sell: I continue to favour selling first in today’s market, where practical. It provides greater clarity about the money available for the next purchase and reduces the risk of carrying two properties.

Source: Toronto Regional Real Estate Board — October 2026 Market Watch Release

Jarrett Hunter | Realtor® | RE/MAX Your Community Realty