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October 2026 GTA Market Recap: Sales and New Listings Fell. How Should You Bid?
What the October numbers show
TRREB reported 5,603 sales (down 7.9% year over year), 14,173 new listings (down 11.9%), an average sale price of $1,024,108 (down 2.7%) and a 4.3% decline in the MLS® HPI composite benchmark. Dividing sales by new listings gives a 39.5% sales-to-new-listings ratio, or SNLR. It measures aggregate activity, and some sales came from listings introduced before October.
Why the monthly and annual readings can differ
Compared with September’s published unadjusted figures, October sales rose about 11.2%, new listings fell about 14.1%, and the average price rose about 1.8%. The unadjusted SNLR rose from about 30.5% to 39.5%. TRREB’s seasonally adjusted series shows sales and new listings both up from September, with the average price and HPI edging higher. Each series answers a different question.
How buyers can set an offer range
Start with comparable sales from the last 30–90 days, then compare competing listings. For a condo, prioritize the same building and comparable size, floor, exposure and parking. For a house, consider lot, condition and street. Set your ceiling using your own monthly budget.
How sellers can set a price
Use completed comparable sales to estimate value, then look at the alternatives a buyer can tour today. After the first week, review showings, feedback and offers to see whether visibility, condition or price needs attention.