Toronto home sales fall 7.9% in October as condos lag detached homes

Toronto-area home sales fell 7.9 per cent in October from a year earlier, and condominium apartments are losing value faster than detached homes, according to figures from the Toronto Regional Real Estate Board (TRREB) and RBC Economics.

TRREB reported 5,603 sales through its MLS system in October, down from 6,083 in October 2025. The average selling price was $1,024,108, down 2.7 per cent from $1,052,539 a year earlier, and the median price across all TRREB areas was $860,000. The board’s MLS Home Price Index composite benchmark was down 4.3 per cent from a year ago.

Sellers are pulling back as well as buyers. New listings fell 11.9 per cent to 14,173 from 16,080, and active listings dropped 10.0 per cent to 25,098 from 27,899, according to TRREB’s October Market Watch report, released Nov. 4. The sales-to-new-listings ratio was 37.9 per cent, and TRREB put trend months of inventory at 4.6.

Condos take the bigger hit

RBC Economics assistant chief economist Robert Hogue, in a Nov. 6 report on Canadian housing, wrote that condo apartments make up nearly a third of Toronto-area listings. He said the condo price index was down 7.3 per cent from a year ago, compared with a 4.4 per cent decline for single-detached homes.

RBC said Toronto resales rose 1.2 per cent from September on a seasonally adjusted basis, and that the MLS Home Price Index edged up 0.1 per cent month over month. In other words, the market is stabilizing at lower levels, not sliding further, though activity remains well below last year’s pace.

Two independent sources, TRREB and RBC, agree on the year-over-year picture: sales down 7.9 per cent, home values down 4.3 per cent and active listings down 10 per cent.

How other markets compare

RBC’s report, which covers October data from local real estate boards, said a majority of boards recorded a seasonally adjusted sales increase from September, naming Vancouver, Fraser Valley, Edmonton, Regina, Hamilton, Toronto and Ottawa. Levels are generally weaker than a year ago, with some exceptions in the Prairies. Activity in Calgary, Saskatoon, Winnipeg and Montreal softened further.

In Montreal, RBC said resales fell for a fifth straight month to the lowest level since July 2024, and the number of homes for sale is up 18 per cent from a year ago, the highest since 2019. Even so, prices there are still rising modestly: the report cites condo median prices up 0.3 per cent and single-family prices up 1.3 per cent over the past year.

In Greater Vancouver, RBC said resales are almost 30 per cent below pre-pandemic levels and prices are down 5.2 per cent from a year ago. Transactions rose an estimated 2.5 per cent from September, and active listings have fallen for six consecutive months but remain close to a decade high. In Calgary, resales fell an estimated four per cent from September, and the composite MLS HPI is down 0.4 per cent from last year.

What buyers should watch

Hogue wrote that RBC still expects recovery to prevail across Canada despite current headwinds, as improving affordability and a resilient economy progressively unlock pent-up demand, but that the road ahead is likely to be bumpy and uneven. The report points to rising long-term interest rates as one headwind.

For Toronto buyers, the data suggest a split market. Fewer listings are supporting detached-home prices, while the large inventory of condo apartments is keeping downward pressure on that segment. Canadian housing starts data from the Canada Mortgage and Housing Corporation for October and the Canadian Real Estate Association’s national October figures are both expected around mid-November.

Sources: TRREB Market Watch, October 2026; RBC Economics, Canada’s housing markets carry minimal momentum through fall (Nov. 6, 2026). Photos are illustrative stock photography from Unsplash and do not show properties discussed in this article.