Is It a Buyer’s or Seller’s Market in Toronto Right Now?

1. What the latest Toronto housing numbers show

TRREB's October 2026 report, released on November 4, provides the latest complete monthly snapshot available at the time of writing.

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Source: TRREB October 2026 Market Watch . The City of Toronto and regional figures describe different geographic markets.

How to read the trend figures: TRREB's published sales-to-new-listings and inventory trend measures use 12-month moving averages. They differ from calculations using October alone.

2. Why the overall market favours buyers

A buyer's market develops when the supply of homes gives purchasers greater choice and negotiating room. In a seller's market, stronger demand relative to available homes gives sellers more influence over price and terms.

One useful indicator is the sales-to-new-listings ratio, which compares sales activity with the flow of newly listed properties.

The Canadian Real Estate Association describes a national ratio of roughly 45% to 65% as generally consistent with balanced conditions. This is a reference point; local markets and different property types can behave differently.

Source: CREA's explanation of balanced-market indicators .

Toronto's lower reported ratio supports a buyer-favouring assessment. The regional price evidence reinforces it: October's GTA average selling price was 2.7% below a year earlier, while the MLS® Home Price Index composite benchmark was 4.3% lower.

There is also an important qualification. GTA active listings were 10% lower than in October 2025. Buyers still had substantial choice, but inventory was not growing compared with the previous year.

TRREB also reported that seasonally adjusted sales and prices increased from September. Taken together, the figures suggest a market that offers negotiating opportunities while showing some improvement from the previous month. They do not establish where prices will go next.

Sources: TRREB October 2026 market release and October Market Watch .

3. Condos, houses and townhouses are experiencing different pricing conditions

The differences become clearer when we separate property types. Within the City of Toronto, October's average selling prices were:

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Source: TRREB October 2026 market release , City of Toronto figures.

Townhouse category: The townhouse row combines TRREB's attached/row townhouse and condominium townhouse categories. Their ownership costs and market conditions can differ, so buyers should compare the relevant category when evaluating a specific property.

These figures suggest greater price pressure in condominium apartments. Semi-detached average prices were roughly steady, while the combined townhouse average was higher than a year earlier.

These are averages of the properties that sold, so changes in the mix of sales also matter. They should not be applied as a blanket percentage adjustment to an individual home.

For a Toronto condo buyer, I would narrow the comparison to similar units in the same building or closely comparable buildings. Layout, usable space, parking, maintenance fees and the corporation's financial position deserve careful attention.

For a house in Highland Creek, West Hill or Guildwood, I would examine the lot, layout, condition, renovation quality and nearby alternatives. A regional average cannot account for all those differences.

4. What buyers should do with that negotiating room

My advice to buyers is to use favourable conditions to make a more informed purchase.

Start with recent comparable sales. An asking price tells you what the seller is requesting; it does not establish what you should pay. A meaningful offer should account for the property's condition, competing listings, ownership costs and your own financial comfort.

I would focus on four things:

• Establish a realistic value range. Compare similar sold properties and account for differences in size, condition, parking and location.
• Understand the full cost of ownership. Include mortgage payments, taxes, insurance, utilities, maintenance and any condominium fees.
• Discuss appropriate offer conditions. Financing, inspection and other conditions should reflect the property and your circumstances.
• Set your limit before negotiating. Decide what you can comfortably afford and which compromises you are prepared to make.

RECO's buyer guidance recommends considering protective conditions and budgeting for expenses beyond the purchase price. Its guidance on competing offers also cautions that mortgage pre-qualification does not safely eliminate the need for a financing condition.

Sources: RECO buyer's checklist and competing-offers guidance .

For a resale condominium, have your lawyer review the status certificate and supporting documents. These provide information about the corporation's finances, reserve fund, fees and other matters that can affect ownership costs.

Source: Condominium Authority of Ontario: status certificates .

A lower purchase price can be valuable. Understanding what you are buying is just as important.

5. What sellers should do in a buyer-favouring market

For sellers in West Hill, Guildwood and other Toronto neighbourhoods, I recommend a strategy built around current comparable sales, competing inventory and clear reasons for a buyer to choose your home.

Begin by examining what buyers can purchase in your price range today. How does your home compare in condition, layout, presentation and total cost? An asking price needs to make sense within that choice.

You can start with a free home evaluation , then review recent comparable sales and current competition before deciding on an asking price.

Preparation should address the questions buyers are likely to raise. Depending on the property, that may mean completing minor repairs, gathering renovation records, improving lighting, decluttering or presenting accurate floor plans and clear photographs.

The aim is to help buyers understand the home and feel comfortable evaluating it.

Once listed, review the response with your agent. Showing activity, feedback, competing sales and new listings can help you decide whether the strategy needs adjustment. Limited interest deserves investigation; a price change should follow an assessment of the evidence.

Also consider the complete offer. Price matters, but conditions, the deposit, closing arrangements and the likelihood of completing the transaction affect the quality of an offer.

6. If you are buying and selling, consider the price difference

Homeowners planning a move need to evaluate both transactions together.

A lower sale price on your current home may be partly offset by a lower purchase price on your next property. The effect depends on how each segment is performing.

Consider this hypothetical example, before taxes, transaction costs and financing:

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In this example, the price difference narrows by $20,000.

Actual properties will not necessarily move by the same percentage. Someone selling a condo and buying a detached house should assess those two markets separately.

My recommendation is to calculate conservative sale proceeds, the likely purchase cost and the financing required. Then consider the timing and risks of each transaction with your agent and lender.

7. How to assess the market for your particular property

Before deciding how aggressively to buy or how to price a home for sale, I would want answers to these questions:

• Which comparable properties have sold recently, and at what prices?
• How many realistic alternatives are currently available?
• How long have those properties been marketed, including any relistings?
• Have competing sellers changed their prices?
• What differences in condition or features explain the price gaps?
• What would make a buyer choose this property over another?

For a condo, that comparison may begin within the building. For a house, it may begin with a small group of nearby streets and similar home styles.

This is where a market report becomes useful in practice. It provides the background; a focused property analysis helps determine the price and terms that make sense for your move.