Local market / Ontario · Greater Toronto Area
GTA home sales fell 7.9% year-over-year in October
Toronto-area sales fell annually but improved on a seasonally adjusted monthly basis. How to read the comparisons and frame mortgage questions.
At a glance
The Toronto Regional Real Estate Board reported 5,603 Greater Toronto Area home sales in October 2026, down 7.9% from a year earlier. Sales increased from September after seasonal adjustment, according to its November 4 release.
Two comparisons, different questions
TRREB's October release also reports 14,173 new listings, down 11.9% year-over-year. The average selling price was $1,024,108, down 2.7% annually, while the MLS® Home Price Index composite benchmark declined 4.3%. Seasonally adjusted new listings and both price measures increased from September.
Our interpretation: a market can improve over one month while remaining below its level a year earlier. These comparisons answer different questions. The annual figures compare October with October; the monthly figures above use seasonal adjustment. Keep the period and adjustment method attached to any number you use in a purchase discussion.
Use consistent local evidence
TRREB's Market Watch page notes that historical data was revised after client boards joined the PropTx MLS® system. Historical listing and transaction totals can therefore differ from older static reports.
For a Toronto-area buyer, that makes the source and version of a comparison worth checking. Ask which geography, property type and reporting period a comparable-sales analysis covers. A Greater Toronto Area average is not a valuation of a particular Toronto condominium or a detached home in a neighbouring municipality. These results also should not be treated as an Ontario-wide price change.
Separate the price discussion from mortgage costs
FCAC's existing mortgage terms and amortization guidance explains that the term is the duration of the mortgage contract, while amortization is the estimated time needed to repay it. A longer amortization lowers payments but increases total interest when other factors are unchanged.
When comparing financing for a specific home, ask for quotes using the same purchase price, down payment and amortization. Then compare the interest rate, contract term and conditions. A change in the regional selling price cannot tell you whether two mortgage quotes offer comparable costs or flexibility.
Confirm what remains conditional
FCAC's preapproval guidance says preapproval does not guarantee final approval. Property value, down payment and lender requirements still matter. Ask when any rate hold expires and which documents or property details are still needed.
Our Toronto mortgage page and pre-approval guide can help organize a conversation with a broker about the home and financing you are considering.
Sources & verification
- TRREB — October 2026 GTA market release
November 4 release; annual sales, listings and price figures and seasonally adjusted monthly directions verified. Accessed November 4, 2026.
- TRREB — Market Watch
October figures corroborated; historical-data revision notice checked. Accessed November 4, 2026.
- FCAC — Mortgage terms and amortization
Existing guidance on contract terms, repayment periods and interest costs. Accessed November 4, 2026.
- FCAC — Getting preapproved for a mortgage
Existing guidance on conditional approval and rate-hold questions. Accessed November 4, 2026.
This AI-assisted briefing summarizes public sources and provides general context. It is not a personalized mortgage recommendation or a lender quote. Editorial policy · Report an error.