As we head into November, the Greater Toronto Area (GTA) housing market continues to reflect cautious decision-making, with economic uncertainty, inflation, and borrowing costs influencing when buyers feel ready to make their next move.
According to the Toronto Regional Real Estate Board’s (TRREB) September 2026 report, 5,040 homes were sold across the GTA, down 9% compared with September 2025. New listings also declined, falling 14.4% year over year to 16,500. Meanwhile, the average selling price reached $1,006,409, representing a 5.1% decrease from the same period last year. The MLS® Home Price Index Composite benchmark was also down 4.7%.
What does this mean for buyers?
For prospective buyers, lower average prices may create opportunities to explore properties that previously felt out of reach. With sales activity subdued, buyers may have more room to compare options, conduct due diligence, and negotiate, depending on the property and neighbourhood. However, affordability still depends on mortgage qualification, financing costs, and individual financial circumstances.
What about sellers?
For sellers, the current environment calls for a well-planned approach. Pricing a property realistically, preparing it for the market, and understanding comparable sales are important when buyers are taking their time and weighing their options. Local market conditions can vary considerably, so broad GTA figures should not replace a property-specific assessment.
As the year draws closer to its end, the market remains sensitive to economic confidence and borrowing costs. Whether you are considering buying, selling, or simply planning ahead, understanding the numbers is a valuable first step.
Thinking about your next move? Connect with Charissa Realty for guidance tailored to your goals, budget, and preferred location.
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