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Morning Brief: GTA October Home Sales Fall 7.9 Per Cent

By YorkNine Desk · · Market watch

GTA home sales fell 7.9 per cent in October from a year earlier, TRREB reported on Nov. 4, as buyers waited on inflation, borrowing costs and the wider economy.

Brick houses on a Toronto street at dawn in November, with the city skyline in the distance
AI-generated image

Edition of Wednesday, November 4, 2026. Compiled on Wednesday, November 11, 2026 from sources published by that morning.

Top lines

  • GTA home sales fell 7.9 per cent year over year in October, and new listings fell 11.9 per cent, TRREB reported.
  • The MLS® HPI Composite benchmark was down 4.3 per cent from a year earlier, while the average selling price was $1,024,108.
  • Statistics Canada's index of new condo prices in Toronto edged lower in the third quarter of 2026, to 127.6.
  • A Better Dwelling report questions how many announced data centres will be built; it is not a GTA housing story.

GTA home sales fall 7.9 per cent in October as buyers wait

The Toronto Regional Real Estate Board (TRREB) reported on Nov. 4 that GTA REALTORS® recorded 5,603 sales through the MLS® System in October 2026, down 7.9 per cent from October 2025. New listings totalled 14,173, down 11.9 per cent from a year earlier (TRREB).

Prices were lower than a year ago. The MLS® Home Price Index Composite benchmark fell 4.3 per cent, and the average selling price of $1,024,108 was down 2.7 per cent. Compared with September, and after seasonal adjustment, sales, new listings and prices all moved up.

TRREB said uncertainty over inflation, borrowing costs and the economy kept many buyers on the sidelines. Monthly mortgage payments on an average-priced home have edged up from a year ago, but remain well below the payments required in 2023 and 2024.

TRREB President Daniel Steinfeld said a Canada-U.S. trade deal could give residents a clearer economic picture and help "renew interest in homeownership as we move into 2027". TRREB CEO John DiMichele pointed to HST rebates and development charge reductions as policies that should add ownership and rental supply over the medium term.

Why it matters: Buyers have had considerable room to negotiate over the past year, and lower prices have softened the effect of higher borrowing costs, according to TRREB's Jason Mercer. Anyone weighing a purchase or a renewal can test payment figures with the mortgage calculator and speak with a licensed mortgage professional.

New condo prices in Toronto edge lower in the third quarter

Statistics Canada reported on Nov. 3 that its New Condominium Apartment Price Index for Toronto stood at 127.6 in the third quarter of 2026, a small decline from the previous quarter. The index uses 2017 as its base of 100 and tracks developers' selling prices for newly built apartment-style condominiums (Statistics Canada).

Across Canada the index was 120.8, also slightly lower than in the second quarter. Ottawa-Gatineau rose 1.6 per cent, and Montréal rose 0.7 per cent, so the national picture was mixed. Vancouver and Victoria also posted declines.

Why it matters: The figures cover developers' prices on new units, not resale condos, so they show only one part of the condo market. Buyers comparing new and resale apartments can browse condos for sale in Toronto to see current asking prices, which are asking prices of active listings rather than sale prices.

Report questions how many announced data centres will be built

Better Dwelling reported on Nov. 3 that more than 200 data centres have been announced or are in development in Canada, including 159 hyperscale facilities, compared with five hyperscale facilities today (Better Dwelling). The outlet argues that many announced projects may never be built and describes the boom as speculative, driven in part by a tax code change.

Why it matters: The piece is an opinionated look at technology investment and says little directly about homes in the GTA. Readers who invest should speak with a licensed professional rather than rely on a single commentary.

Sources

This article is general information, not financial, legal, tax or investment advice. Speak with a licensed professional about your situation. Statistics attributed to other organisations are theirs. Images are AI-generated and do not show the actual places, people or events reported.

MLS®, Multiple Listing Service® and the associated logos are trademarks owned or controlled by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. REALTOR® is a trademark controlled by CREA that identifies real estate professionals who are members of CREA.

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