October's GTA prices fell over the year, not over the month.
GTA prices can be below last October and still move up from September. Those statements don't cancel each other out. They compare different dates. Before using a market headline to decide what to offer or ask, check which comparison it makes.
TRREB's November 4 release reports an October 2026 average selling price of $1,024,108, down 2.7% from October 2025. Its MLS Home Price Index composite benchmark was down 4.3% over the year. But both measures edged up from September on a seasonally adjusted basis. Read TRREB's October release.
Two dates can tell different stories
Here is an invented example, not a set of GTA prices. Suppose a price measure was 100 last October, 94 this September and 96 this October.
From 100 to 96, it fell 4% over the year. From 94 to 96, it rose about 2.1% over the month. You can describe the same endpoint as lower or higher, depending on where you start. Neither calculation tells you where next month's number will land.
Now imagine two people discussing an offer. One says prices are falling and points to the annual comparison. The other says prices are rising and points to the monthly comparison. They may both have read the report correctly. They still haven't shown what the particular home is worth.
Keep the comparison attached to the number
When you save a market figure, save its dates and definition too. Write October 2026 compared with October 2025, or October compared with September after seasonal adjustment. Don't shorten both to “prices are down” or “prices are up.”
The average and the benchmark are different measures as well. An average depends on the prices of the homes that sold. It can change when the mix of those homes changes. A benchmark is designed to follow a representative home rather than simply average the month's sale prices. Neither is a valuation of the house you are standing in.
If someone uses one measure for the earlier date and another for the later date, stop and ask for a consistent comparison. The arithmetic can be correct while the comparison is not useful.
Turn the report into property questions
For a buyer, begin with recent sold homes that genuinely compete with the one under consideration. Ask why each sale belongs in the comparison: property type, location, condition, size and transaction date. Then look at the alternatives available now. An attractive annual headline doesn't make every asking price reasonable.
For a seller, look at what a buyer can choose instead of your home. If a comparable property has sold, separate its verified sale price from its earlier asking price. If another home remains listed, that asking price is competition, not proof that a buyer has paid it.
Suppose two homes have similar layouts but one needs a major repair. Treat the difference as a question to investigate with suitable estimates and professional advice. Applying a GTA percentage to both asking prices would skip the very detail that could matter most.
Ask what would change the decision
Before offering or setting a list price, ask your Realtor to explain the evidence that supports the proposed number and what would make that conclusion change. A new competing listing, a relevant sale or better information about the property's condition may matter more than another broad headline.
Keep your financing decision separate too. A lower market measure is not a mortgage approval or a guarantee of a lower payment. Ask your lender about the actual property, loan amount, rate and conditions that apply to you.
Use the monthly report to understand the conversation. Use specific property evidence and your own financial circumstances to make the decision.
General information from SirLuckHomes Real Estate Brokerage, November 5, 2026. The 100, 94 and 96 example is hypothetical, not market data. Obtain property specific, mortgage and legal advice for your circumstances.
Illustrative photograph: Downtown Markham townhouses, Raysonho, May 26, 2020, Wikimedia Commons, CC0. Not a listing or a claim about the pictured homes' values.
