Are home prices falling? Are buyers returning? And is now a good time to make a move? If you've been following the real estate headlines lately, you may be wondering what to believe.
There's certainly no shortage of opinions about the housing market. But after decades of helping people buy and sell homes, we've learned one important lesson: the headlines rarely tell the whole story.
The latest October 2026 statistics from the Toronto Regional Real Estate Board (TRREB) offer an interesting picture of a market that's still adjusting — but also showing some encouraging signs.
October by the Numbers: Some Encouraging Movement!
October brought a welcome increase in activity compared with September.
Here's how the GTA market performed:
- 5,603 homes sold — up 11.2% from September.
- $1,024,108 average selling price — up 1.8% from September.
- 14,173 new listings — down 14.1% from September.
- 25,098 active listings — down 4.0% from September.
- 31 average listing days on market — compared with 34 days in September.
While sales and average prices increased month-over-month, it's important to keep things in perspective. Compared with October 2025, sales were down approximately 7.9% and the average selling price was 2.7% lower.
The takeaway? We're seeing some renewed activity, but buyers remain cautious and market conditions continue to vary by neighbourhood and property type.
Buyers Are Taking Their Time — But They're Still Buying!
Today's buyers generally have more time to consider their options. They're comparing properties, paying close attention to condition and value, and being more selective about where they spend their money.
For sellers, this means pricing strategically and presenting your home at its absolute best are more important than ever.
Buyers are still willing to act when they find the right property at the right price. But an overpriced home or one requiring significant work may be passed over in favour of better alternatives.
Not All Homes Are Experiencing the Same Market
One of the most interesting aspects of October's statistics is how differently property types are performing.
Across the GTA, average selling prices were approximately:
- Detached homes: $1,310,627
- Semi-detached homes: $1,024,907
- Townhouses: $804,416
- Condominium apartments: $621,400
Compared with September, detached and semi-detached homes saw modest price increases, condominium apartments rose by 2.7%, while townhouses declined by approximately 2%.
These differences reinforce an important point: there isn't just one real estate market.
A detached home in Unionville, a townhouse in Richmond Hill and a condominium in Aurora can attract very different buyers and experience very different market conditions.
That's why understanding what's happening in your own neighbourhood — and with homes similar to yours — matters far more than any GTA-wide average.
A Changing Market Creates Opportunities
It's easy to view a slower market as a negative. But depending on your circumstances, today's conditions may actually work in your favour.
For Buyers: More choice and greater negotiating opportunities can make the purchasing process less stressful. You may have more time for home inspections, financing arrangements and thoughtful decision-making.
For Sellers: Homes are still selling! In fact, more than 5,600 properties changed hands across the GTA in October. Success in today's market depends on realistic pricing, excellent presentation and a marketing strategy that makes your property stand out.
For Homeowners Thinking About Rightsizing: Here's something worth considering. If you're selling a larger family home and purchasing a smaller property, you may have more negotiating room on your next purchase than you would have had in a highly competitive market.
And remember, it's not just what you sell your home for that matters — it's the difference between your selling price and the cost of your next home.
That difference can sometimes make moving in a softer market more attractive than homeowners initially realize.
What Does This Mean for 2027?
Will home prices rise? Will buyers return in greater numbers? And what direction will interest rates take?
Those questions have become even more relevant following the Bank of Canada's October 28 announcement, when it increased its key interest rate by 0.25 percentage points to 2.50%.
The increase reflects ongoing concerns about inflation and could affect borrowing costs, particularly for buyers with variable-rate mortgages or homeowners approaching mortgage renewal. It may also cause some prospective buyers to take a more cautious approach.
Does this mean the housing market is headed for another slowdown? Not necessarily.
October's increase in home sales reminds us that buyers are still active, even amid economic uncertainty. And while interest rates certainly influence the market, they're only one piece of the puzzle. Employment, affordability, housing supply and consumer confidence all play important roles.
The bottom line? Waiting for the perfect market or the perfect interest rate isn't always the best strategy.
If you're considering a move in 2027, now is an excellent time to understand your home's current value, explore your options and start preparing. Whether the market strengthens or remains relatively balanced, having a plan puts you in a better position to take advantage of opportunities when they arise.
The Right Move Starts with the Right Information
At The Procenko Group, we believe that making a successful move isn't about trying to predict the perfect market. It's about understanding today's conditions, recognizing opportunities and developing a plan that works for your personal circumstances.
Whether you're buying your first home, selling a longtime family property or considering rightsizing for your next chapter, we're always happy to help you make sense of the numbers.
Because making informed decisions — rather than reacting to sensational headlines — could be one of your better moves!