The GTA housing market just showed its first monthly sales increase in three months. In October, 5,603 homes sold, while the average selling price came in at $1,024,108 — 2.7% lower than a year ago. That means buyers are returning even though prices have not fully recovered.
For buyers, that combination is worth paying attention to. Lower prices are still helping offset some of the recent increase in borrowing costs, and buyers continue to have meaningful negotiating power. But if sales keep improving, the quieter market many buyers have enjoyed could gradually become more competitive.
For sellers, October offers a little more encouragement. Sales and new listings both increased from September on a seasonally adjusted basis. That does not mean sellers can suddenly price aggressively, but it does suggest there are active buyers willing to move when a property is positioned properly.
The interesting question now is whether October was simply a temporary bounce or the beginning of stronger activity heading into 2027. Buyers who have been waiting for absolute certainty may want to remember that the market often starts moving before confidence fully returns.
The takeaway is simple: prices are still softer, but buyers are beginning to move again. That could make the next few months particularly interesting for buyers who want negotiating room and sellers who have been waiting for signs of stronger demand.
Source: Toronto Regional Real Estate Board (TRREB), October 2026 Market Watch, released November 4, 2026.