--- title: "GTA home sales fell 7.9 per cent in October. Toronto also opened the 2026 Vacant Home Tax declaration period." description: "The Toronto Regional Real Estate Board reports 5,603 GTA home sales in October 2026, down from a year ago, with the average selling price at $1,024,108. At the same time, the City of Toronto opened the Vacant Home Tax declaration period for 2026, with an April 30, 2027 deadline for all residential property owners." canonical_url: "https://voche.me/on/toronto-2026/news/toronto-housing-market-vacant-home-tax-october-2026" last_updated: "2026-11-04T15:54:53.538Z" --- Two pieces of news landed within two days of each other about housing in Toronto. The Toronto Regional Real Estate Board reported that home sales fell 7.9 per cent in October compared with the same month a year ago. And the City of Toronto opened the 2026 Vacant Home Tax declaration period, requiring every residential property owner in Toronto to file a declaration by April 30, 2027. Together they give owners and buyers a clearer picture of where the market stands going into the winter. ## October home sales: what the board reported The Toronto Regional Real Estate Board, known as TRREB, reported 5,603 home sales through its MLS system in October 2026, down from the number a year earlier. That 7.9 per cent drop followed a period in which interest rates and economic uncertainty kept buyers cautious. TRREB's president Daniel Steinfeld pointed specifically to Canada-U.S. trade negotiations and unresolved conflict in the Middle East as reasons many people held off on making a purchase. Month over month, sales rose. On a seasonally adjusted basis, October sales were up 1.2 per cent from September 2026. That means the market is not simply falling; it is moving sideways, with some buyers returning while others stay out. The average selling price in October was $1,024,108, down 2.7 per cent year-over-year. The MLS Home Price Index composite benchmark, which measures the price of a typical home without being skewed by shifts in what types of homes are selling, was down 4.3 per cent compared with October 2025. TRREB's chief information officer Jason Mercer said that buyers who acted in October had strong negotiating power. Sellers were accepting lower prices. The question for the months ahead is whether that dynamic changes if uncertainty around trade and the economy eases. ## Listings are also down A key piece of context is that there are fewer homes for sale than there were a year ago. New listings in October numbered 14,173, down 11.9 per cent from October 2025. Total active listings across the GTA stood at 25,098, down 10 per cent year-over-year. That means the decline in sales is happening alongside a decline in supply. Fewer people are buying, but fewer people are also putting their homes up for sale. The combined effect is a quieter market in both directions. TRREB's CEO John DiMichele noted that policy measures including HST rebates on new construction and reductions in development charges should help bring more housing supply to the market over the medium term. He did not give a date or a volume. ## Vacant Home Tax: every owner must file On November 2, the City of Toronto opened its 2026 Vacant Home Tax declaration period. The tax applies to residential properties that sit vacant. It is set at three per cent of the property's Current Value Assessment. The declaration covers the full calendar year from January 1 to December 31, 2026. Every owner of a residential property in Toronto must submit a declaration, including owners of principal residences. The City requires this of all owners so it can identify which properties may be vacant and subject to the tax. Failing to submit a declaration may result in the property being treated as vacant and the tax being applied, even if the property is occupied. The deadline to submit is April 30, 2027. For the 2025 tax year, the City reported that over 99 per cent of property owners filed their declaration. ## What counts as exempt The City lists several situations that may qualify a property for an exemption from the tax, including: The death of a registered owner. A property undergoing major renovations where living in it would not be safe or reasonable. An owner who is in long-term care or in hospital. A situation where a court order or other legal process prevents the property from being sold or rented. The specific criteria for each exemption are described on the City's Vacant Home Tax page. The City's view, explained in earlier years when the tax was introduced, is that bringing vacant homes into the rental or resale market helps ease pressure on housing supply. The October sales data, which shows fewer homes listed and fewer sold, is the context in which that policy works. ## What residents can do Property owners who need to file the Vacant Home Tax declaration can do so at toronto.ca/VacantHomeTax, by calling 311, or in person at the Tax and Utility Payment Counter at Toronto City Hall or any City civic centre. The assessment roll number and customer number needed to file both appear on property tax bills. The deadline is April 30, 2027. Buyers and sellers who want to track housing conditions can read TRREB's monthly Market Watch releases at trreb.ca, which the board publishes on the first Wednesday of each month. ## Sitemap See the full [sitemap](/on/toronto-2026/sitemap.md) for all pages.