Canada’s sales slowed. What would your next move actually cost?

Canada's resale market slowed in September. If you're selling one home to buy another, the number that matters to your move is the difference between the two prices, not just what your current home sells for.

In its October 16 release, the Canadian Real Estate Association reported that national sales fell 2.3% from August. New listings fell 1.8%. Its national benchmark price measure slipped 0.4% for the month, with softer demand in Ontario contributing to the decline.

Those are national results. They aren't a price adjustment you can apply to a townhouse in Brampton or a detached home in Markham.

A lower selling price isn't the whole calculation

Here's a simple example, not a valuation. Suppose you had planned to sell for $900,000 and buy for $1.1 million. The price gap would be $200,000 before expenses.

Now suppose the realistic selling price is $850,000, but a suitable replacement can be bought for $1 million. You've lost $50,000 on the selling side compared with the original plan. The purchase has become $100,000 cheaper. The gap is now $150,000.

That doesn't mean a slower market automatically saves you money. Your next property might be in a different neighbourhood or price bracket, with much stronger competition. The example shows why both sides need to be checked together.

Put the expenses beside the prices

The price gap isn't the amount you need to borrow. Start with the expected sale proceeds after your existing mortgage and selling expenses. Then put the purchase costs beside them, including applicable land transfer tax, legal fees, moving costs and any work the next home needs.

Ask your lender or mortgage professional to confirm the financing using those numbers. If the sale and purchase close on different days, ask how that gap would be funded and what it would cost. Don't assume the dates will line up because everyone would prefer that.

Compare homes you could actually buy

Ask your Realtor for recent comparable sales for your current home and a separate set for the type of property you want. Include the homes competing with yours now. A national headline can't tell you whether your next street has three suitable choices or none.

If the move only works at your best possible selling price and the seller's lowest imaginable price, the budget needs another look. Work through a less favourable outcome before you commit.

The point isn't to chase a perfect market. It's to understand what this particular move would cost you.

Source: CREA's September 2026 national housing report, released October 16, 2026. Figures describe the national market. The move example is hypothetical. General information only; obtain advice for your property, financing and tax circumstances.

Illustrative Markham photograph from March 2016, not a SirLuckHomes listing or a current market example. Photo: Raysonho, Wikimedia Commons, CC0.