The Monthly Mo  ·  November 2026  ·  Vol. 50

October's Numbers,
In Sixty Seconds

Buyers and sellers both held back in October, and then the Bank of Canada raised its rate. Here is what that means for your next move.

Source: TRREB Market Watch, October 2026 Released: November 4, 2026 Read time: 3 minutes

Three things that mattered in October

📋

Both sides held back

New listings fell to 14,173, down 11.9% from last October, and below September's 16,500. Sellers are not rushing, and neither are buyers.

⏳

Sales picked up, a little

Sales rose to 5,603 from 5,040 in September, but that is still down 7.9% from last October. A seasonal lift, not a turn.

🏠

The Bank of Canada hiked

On October 28 the Bank raised its rate by 0.25 points to 2.50%. Condo apartments were again the softest segment, down 5.8% on price.

October 2026 at a glance

Year over year unless noted.

$1,024,108
2.7%
Average sale price
5,603
7.9%
Homes sold
14,173
11.9%
New listings
25,098
10.0%
Active listings
31 days
unchanged
Average listing days on market
$860,000
half sold above
Median sale price

📈 GTA average price, month by month

All home types, all TRREB areas · January to October 2026
$1.10M$1.05M$1.00M$950K $1,069,7002026 peak $1,024,108 JanFebMarAprMayJunJulAugSepOct
What it shows: the average rose for a second month, from $993,410 in August to $1,006,409 in September and $1,024,108 in October. Do not read it as a turn. The MLS Home Price Index benchmark, which adjusts for the mix of homes sold, was still down 4.3% year over year.

📋 Fewer listings, a few more sales

New listings versus sales · July to October 2026
05K10K15K 14,48412,07516,50014,173 5,9955,0575,0405,603 JulyAugustSeptemberOctober
New listings October new listings Sales
What it shows: new listings eased from September but were down 11.9% from a year ago, and sales rose by about 560 homes. About 40% of the month’s new listings sold, and there were roughly 4.5 months of inventory. TRREB’s Jason Mercer put it this way: buyers and sellers are both sitting on the sidelines.

🏠 Where the price pressure landed

Average price change, October 2026 versus October 2025
Condo ApartmentTownhouseDetachedSemi Detached $621,400$804,416$1,310,627$1,024,907 −5.8%−5.0%−3.2% −0.8%Nearly flat
What it shows: condo apartments and townhouses were the softest segments, while semi detached homes were nearly flat. Townhouse sales fell the most, down 11.0%. Single month readings by type swing with sales mix, so read them as direction, not precision.

Your move, in four lines

🔑

If you are buying

  • You still have choice and negotiating room. About 4.5 months of supply, and homes take 49 total days from first listing to sold.
  • Lock your rate before you shop. The Bank of Canada just raised its rate. A pre approval usually holds a rate for 90 to 120 days.
🏷

If you are selling

  • Fewer rivals, but also fewer buyers. Active listings are down 10.0% from last year, yet sales are down 7.9%.
  • Price to October, not to spring. The benchmark is 4.3% below last year. Well priced homes still sell at about 97% of asking.

Where borrowing costs sit

On October 28 the Bank of Canada raised its overnight rate by 0.25 points to 2.50%. The Bank said it acted so that high energy prices do not spread into other prices. Headline inflation was 3.1% in September, with gasoline up 27.8% from a year ago. Lenders had already been raising fixed rates since September as bond yields climbed.

2.50%
Bank of Canada overnight rate, raised 0.25 points on October 28
3.1%
Headline inflation in September
Dec 9
Next Bank of Canada decision
⏰ Renewing in the next six months? Posted bank rates are well above the best market rates, so never just sign the renewal letter. Most lenders let you lock a rate about 120 days ahead. Our new quarterly report, The Mortgage Renewal Cliff, walks through what the 2021 renewals look like at today’s rates.

Five jobs worth doing before winter

🪟Seal windows and doorsAdd weatherstripping or caulk wherever you feel a draft.
💨Clean the dryer ventLint build up is a fire risk and costs you energy.
🌡Check attic insulationLook for bare patches or damp spots before the cold sets in.
❄Stock salt and shovelsPut them where you can reach them before the first snow.
🔥Test the furnaceRun it now so a problem shows up in November, not January.

Sources: TRREB Market Watch, October 2026, news release dated November 4, 2026 (sales, new listings, active listings, average and median price, MLS® HPI Composite, days on market, property type breakdowns, and commentary from TRREB). Monthly price and listing series July to September 2026 from the corresponding TRREB Market Watch releases. Sales to new listings ratio and months of inventory for the month calculated from reported TRREB figures. Bank of Canada policy interest rate announcement, October 28, 2026, and September inflation as cited in that announcement. This is general information, not mortgage or financial advice. All market figures cover all TRREB areas and all home types combined unless noted.

What does October mean for your street?

Durham had about 3.6 months of supply this month. Simcoe County had nearly six. Tell us your address and your timeline, and we will send you the real numbers for your block.

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