Alexey Kopeykin, a Toronto realtor with Zolo Realty Brokerage, breaks down the September 2026 housing numbers for the Greater Toronto Area, released by the Toronto Regional Real Estate Board (TRREB) on October 6, 2026, and explains what they mean for buyers and sellers in Toronto, Vaughan, Mississauga, Oakville and the rest of the GTA.
How many homes sold in the GTA in September 2026?
GTA REALTORS® reported 5,040 sales through TRREB's MLS® System in September 2026, down 9% from September 2025. New listings fell even faster, to 16,500, a drop of 14.4% year over year. TRREB also said that, on a seasonally adjusted basis, both sales and new listings were lower than in August.
The drop in new listings matters. When sellers hold back at the same time as buyers, the market does not tip as far in either direction as the headlines suggest. TRREB's Market Watch report showed 26,131 active listings at the end of September, about 9% fewer than a year earlier.
Are GTA home prices going down?
Prices are softer than a year ago. The MLS® Home Price Index (HPI) Composite benchmark was down 4.7% year over year, and the average selling price was $1,006,409, down 5.1%. On a seasonally adjusted basis, both measures edged lower from August.
For the luxury end of the market, detached homes are the closest guide. According to TRREB's Market Watch, the average detached price in the City of Toronto was $1,562,966 in September, down 7.6% from a year earlier, while detached homes in the surrounding 905 regions averaged $1,193,432, down 4.4%. Averages blend very different homes, so they tell you about direction, not about the value of any one property in Forest Hill, Kleinburg or Old Oakville.
What did the Bank of Canada do with interest rates?
At its last scheduled announcement on September 2, 2026, the Bank of Canada held its policy rate at 2.25%, where it has been since October 2025. In its published summary of deliberations, the Bank pointed to a soft job market and new US tariffs on one side, and inflation running above its 2% target because of higher fuel prices on the other. The next decision is scheduled for October 28, 2026, along with a new Monetary Policy Report.
A steady policy rate has kept variable-rate costs predictable for most of the year. Fixed mortgage rates follow bond yields rather than the policy rate, so it still makes sense to get a pre-approval and hold a rate before you start booking showings.
Is fall 2026 a good time to buy a luxury home in the GTA?
For prepared buyers, conditions are workable. TRREB's Market Watch shows homes took an average of 34 days to sell in September and about 4.6 months of inventory on a trend basis. That gives buyers time to compare, and room to negotiate price, conditions, closing dates and inclusions, especially on homes that have been listed for a few weeks.
- Compare a home to recent sales on the same street or pocket, not to GTA-wide averages.
- Ask how long the home has been on the market, including any earlier listings.
- Keep financing and inspection conditions where the market allows it.
- Line up your mortgage approval before you write an offer.
Our buyer services and buyer's guide walk through each step.
Should I sell my house in Toronto this fall?
Sellers who price to today's market are still selling. TRREB's chief information officer, Jason Mercer, said in the release that "there is substantial pent-up demand in the GTA," but buyers are waiting for more certainty. In a market like this, the first two weeks on the market count the most. An overpriced listing tends to sit, and price reductions invite lower offers.
- Start with a valuation based on recent, nearby sales of similar homes.
- Prepare the home before photos: repairs, staging and a pre-listing inspection where it helps.
- Choose a launch plan that fits your privacy needs, from a full public campaign to a quieter, targeted approach.
You can request a home valuation or read our seller's guide. If you own a rental, our investor services page covers timing a sale or a purchase.
What does this mean for my neighbourhood?
GTA-wide numbers hide big local differences. A detached home near a sought-after school in Toronto, an estate lot in Kleinburg and a lakefront home in Lorne Park can each move on their own schedule. Our area guides for Toronto, Vaughan, Mississauga, Oakville, Richmond Hill and King City give more local context.
How can Alexey help?
I read these monthly numbers so my clients don't have to, and I turn them into a clear plan for their street, their home and their timeline. Whether you are buying, selling or simply watching the market, I reply the same day and keep every conversation private. Get in touch for a no-pressure conversation, or see what clients say on my reviews page.
Common questions
Did GTA home prices drop in September 2026?
Yes. TRREB reported the MLS® HPI Composite benchmark down 4.7% and the average selling price down 5.1% year over year, to $1,006,409.
What is the Bank of Canada's interest rate in October 2026?
The policy rate is 2.25%, held on September 2, 2026. The next scheduled decision is October 28, 2026.
Is it a buyer's or seller's market in the GTA right now?
With sales down 9% and about 4.6 months of inventory, buyers have more choice and time to negotiate, but well-priced homes in desirable pockets still sell.
Alexey Kopeykin, Sales Representative, Zolo Realty Brokerage Inc. Published October 2026. General information, not legal or tax advice; confirm details for your situation.