Toronto Housing Market Report – November 2026

Welcome to this month’s market update!

With the holiday season just around the corner, the GTA real estate market is showing some interesting movement! October brought an increase in home sales and average selling prices, while inventory edged down slightly. As we head toward the end of the year, there are still opportunities for both buyers and sellers, it’s all about understanding the market and having the right strategy.

Current Market Conditions

The GTA recorded 5,603 home sales in October, up from 5,040 in September. While sales were still down 7.9% compared to October last year, the month-over-month increase shows that buyer activity picked up as we moved further into the fall market.

The average selling price also increased to $1,024,108, compared to $1,006,409 in September. This marks another month above the $1 million mark, although prices remain 2.7% lower than this time last year.

The MLS® Home Price Index (HPI) Composite Benchmark was also down 4.3% year-over-year in October.

Homes are also selling slightly faster, with the average number of days on market dropping from 51 days in September to 49 days in October.

While prices remain below last year’s levels, October’s numbers show some positive month-over-month movement in the GTA market.

Link below for previous Toronto Housing Market Reports

• Toronto Housing Market Report – September 2026
• Toronto Housing Market Report – August 2026
• Toronto Housing Market Report – July 2026

Demand and Interest Rates

As we move closer to the holiday season, buyers are continuing to take a thoughtful approach to their next move. With more homes to choose from than in previous years, buyers have the opportunity to compare properties, explore different neighborhoods and find the right fit without feeling pressured to rush.

The Bank of Canada increased its key interest rate by 0.25 percentage points on October 28, bringing it to 2.50%. While interest rates remain an important consideration for buyers, having a clear understanding of your budget and financing options can make all the difference.

Next Bank of Canada Interest Rate Announcement: December 9, 2026

Supply of Homes

Active listings decreased slightly from 26,131 in September to 25,098 in October.

Although inventory dipped, buyers still have a wider selection of properties to consider compared to the tighter market conditions we’ve experienced in previous years.

For buyers, this is a great time to explore different neighborhoods, compare options and take the time to find a home that makes sense for their needs and budget.

For sellers, realistic pricing and strong presentation remain key. A home that is beautifully presented, strategically priced and marketed effectively has a much better chance of standing out and attracting serious buyers.

Have any Questions: Ask us how to maximize your home’s value and showcase it to stand out in today’s market!

Market Outlook

October showed us that the GTA real estate market is continuing to find its footing. Sales and average prices moved up compared to September, while active listings and days on market saw a slight decrease.

As we head into the final months of the year, we expect buyers and sellers to remain thoughtful and selective. While the market may not be moving at the same pace we’ve seen in previous years, opportunities are still out there.

Whether you’re thinking about buying, selling or simply keeping an eye on the market, having the right information and guidance can help you make your next move with confidence.

Key Takeaways

Home Sales: 5,040 → 5,603
Active Listings: 26,131 → 25,098
Average Selling Price: $1,006,409 → $1,024,108
Days on Market: 51 → 49 days
Year-over-Year Sales: Down 7.9%
Average Selling Price: Down 2.7% year-over-year
MLS® HPI Composite Benchmark: Down 4.3% year-over-year
Bank of Canada Interest Rate: 2.50%
Next Rate Announcement: December 9, 2026