GTA condo apartment sales and average prices declined in October 2026 compared with a year earlier, according to Toronto Regional Real Estate Board (TRREB) figures reported by REMI Network - Real Estate Management Industry Network. For pre-construction buyers and investors, the report offers market context, but it should not replace a project-specific review of pricing, financing and purchase terms.
October condo sales and prices declined across the GTA
According to TRREB’s October 2026 sales breakdown, buyers purchased 1,385 condo apartments across the GTA, down 10.4 per cent from October 2025. The average condo apartment selling price declined 5.8 per cent year over year to $621,400. That was the steepest average-price decline among the four major home types tracked by the board.
TRREB’s figures also showed differences between the City of Toronto and surrounding GTA municipalities. For October 2026, compared with October 2025:
- City of Toronto: Condo apartment sales fell 10.7 per cent to 949, while the average selling price declined 5.6 per cent to $659,214.
- Surrounding GTA municipalities: Condo apartment sales fell 9.7 per cent to 436. The average selling price dropped 6.1 per cent to $539,094.
The average-price decline was sharper outside the city, while the percentage decline in sales was larger within Toronto. Buyers should keep those distinctions in mind rather than treating the GTA-wide average as a substitute for reviewing their preferred location and property.
Lower selling prices did not eliminate payment pressure
Across all home types, TRREB reported 5,603 GTA sales in October 2026, down 7.9 per cent from a year earlier. The average selling price declined 2.7 per cent year over year to $1,024,108. Sellers listed 14,173 homes, a decrease of 11.9 per cent compared with October 2025.
The monthly comparison was different: after seasonal adjustment, both sales and new listings rose from September 2026. That increase should be read alongside, rather than in place of, the year-over-year declines.
TRREB chief information officer Jason Mercer said GTA homebuyers had room to negotiate on price over the past year. He said lower selling prices partly offset higher borrowing costs. Nevertheless, TRREB reported that monthly mortgage payments on an average-priced GTA home edged up from a year earlier. The takeaway is not simply that lower prices mean a more comfortable budget.
A practical review for pre-construction buyers
As general due-diligence guidance, buyers considering a pre-construction condo or new home should assess the proposed purchase on its own terms:
- Review the full budget: Consider financing and ongoing ownership expenses, not just the advertised purchase price.
- Check deposit timing: Read the deposit schedule and assess whether each payment fits your financial plan.
- Read the agreement: Seek qualified legal advice on purchase terms, obligations and potential additional charges.
- Test your assumptions: Discuss financing with a qualified adviser rather than relying on an expectation that prices or borrowing costs will move in your favour.
October’s figures show weaker year-over-year condo sales and average prices, alongside continued mortgage-payment pressure. For pre-construction buyers, a measured response is to use this information as context while keeping affordability, agreement terms and personal financial capacity central to the decision.
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