TORONTO & GTA MARKET UPDATE | OCTOBER 19, 2026
Toronto’s Housing Market Is Changing — But Not Every Property Is Following the Same Trend
The latest quarterly price figures show a softer Greater Toronto Area market, with different results for condominiums, detached homes and individual communities.
Another week has brought more evidence that Toronto’s housing market is taking longer to find its footing. Royal LePage released its third-quarter housing survey on October 15, and although prices have generally moved lower across the GTA, the results are far from uniform.
The Market at a Glance
Source: Royal LePage Q3 2026 House Price Survey, released October 15. Figures are quarterly GTA estimates and should not be confused with TRREB’s monthly average sale prices.
How GTA Prices Have Changed
Year-over-year price declines, third quarter 2026
Aggregate home price: −3.7%
Detached homes: −2.8%
Condominiums: −4.1%
Bars compare the size of the annual percentage decline, not absolute property prices. Source: Royal LePage.
What’s Happening in the Market?
One thing that stands out to me is how differently certain types of properties are performing. Across the GTA, Royal LePage reports that condominium prices declined 4.1% over the past year, while detached homes experienced a smaller decline of 2.8%.
The numbers become even more interesting when we look specifically at the City of Toronto. Royal LePage estimates that the median condominium price within the city actually increased 0.4% compared with the same quarter last year, even though the broader GTA condominium figure declined.
That doesn’t mean every Toronto condo is appreciating. Far from it. It illustrates why citywide and regional statistics can tell different stories. Property type, location and the mix of homes being measured all make a difference.
The latest Canadian Real Estate Association figures also suggest buyers remain cautious. National home sales declined 2.3% from August to September on a seasonally adjusted basis, while mortgage rates and economic uncertainty continue to influence purchasing decisions.
What Does This Mean for Buyers and Sellers?
For buyers, the current market can provide opportunities that were difficult to find a few years ago. There is generally less pressure to make immediate decisions, and properties that have been listed for some time may offer room for negotiation.
Sellers need to be equally realistic. The fact that a similar property sold for a particular price last year does not necessarily mean today’s buyers will pay the same amount. A strong listing strategy begins with current comparable sales, active competition and an honest assessment of the property’s strengths and weaknesses.
Jarrett’s Perspective
After more than 25 years in Toronto real estate, one thing I’ve learned is that there really isn’t one market that applies to everyone.
I can look at two condos in the same building and see very different results depending on their layouts, condition, views and asking prices. The same applies to houses in neighbouring communities.
I think today’s market rewards patience, preparation and realistic expectations. Buyers shouldn’t assume that every property is overpriced, and sellers shouldn’t assume their homes will attract the same attention they might have received in 2021 or 2022. Good decisions come from understanding what is actually happening with comparable properties right now.
Sources: Royal LePage Q3 2026 GTA Housing Price Survey and Canadian Real Estate Association, September 2026.
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Subscribe to Jarrett’s Real Estate UpdateJarrett Hunter | Realtor® | RE/MAX Your Community Realty
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