Market Report | October 2026

Opportunity Is Improving, While Buyers Wait for Greater Confidence

FREEHOLD MARKET: WELL-PRICED HOMES CONTINUE TO ATTRACT INTEREST

Freehold market performance varies by neighbourhood and price range, but well-priced properties continue to attract buyers.

Semi-detached homes showed resilience, with GTA prices remaining relatively stable year-over-year. Detached homes and townhomes continue to present opportunities for families seeking more space. For sellers, accurate pricing and strong presentation remain critical in a competitive market.

"New low-rise construction is drawing particular attention as buyers focus on opportunities that combine competitive builder pricing with government HST incentives."

CONDOMINIUM MARKET: VALUE FOR BUYERS, COMPETITION FOR SELLERS

Condo apartments remain the most affordable ownership option, with an average price of approximately $605,000, down 7.7% from a year ago.

Buyers benefit from greater selection and negotiating power, while sellers face increased competition and must focus on pricing and presentation. Beyond purchase price, buyers should evaluate factors such as fees, building management, and reserve funds.

NEW HOMES: POLICY IS HELPING BUYERS MOVE FORWARD

Ontario's new-home market continued to improve, with sales up significantly year-over-year, led by single-family homes.

Low-rise projects featuring HST incentives and competitive pricing are attracting strong interest. Enhanced rebate measures remain available on qualifying builder agreements through March 31, 2027, subject to eligibility requirements. Despite recent gains, long-term housing supply remains a key consideration as fewer projects move forward.

"Buyers are paying close attention to new low-rise developments where HST incentives and competitive pricing can make a meaningful difference to the final purchase cost."

RENTAL MARKET: AN OPPORTUNITY TO REVIEW THE NEXT STEP

Rental conditions vary by neighbourhood as some households continue renting longer while others add supply through leased investment properties.

Landlords should remain competitive with current market rents, while renters may wish to reassess whether improved affordability makes homeownership a viable next step.

Market Recap

September highlighted a market where opportunity and caution continue to coexist. Buyers are responding when value is clear, particularly in select neighbourhoods and new low-rise developments.

Confidence remains the missing piece for many households. Until broader economic certainty improves, success will depend on realistic pricing, thoughtful planning, and a strong understanding of local market conditions. For active buyers and sellers, meaningful opportunities remain available in today's market.