Toronto area home prices have now dipped below the $1 million mark, with the average sale price sitting at approximately $993,000—about 3% lower than this time last year. For many buyers, this shift has offered a welcome improvement in affordability, though it does come with some trade-offs. New listings have fallen by roughly 14% year-over-year to just over 12,100, which means there are fewer homes available and less selection across the market. REALTORS® in Toronto reported a little over 5,000 sales in this period—about 2% lower than last year—so competition among buyers could heat up even as choice narrows.
From my perspective, stable mortgage rates and some positive economic signals have helped keep homeownership within reach for more people. However, ongoing concerns about international trade, inflation, and future borrowing costs are still holding some households back. If inventory continues to tighten and prices start to rise again, buyers may feel compelled to make decisions sooner—while sellers could benefit from stronger conditions and may be more likely to list. With over three decades of experience in Toronto’s diverse real estate market, I focus on empowering clients to move confidently—always with a user-friendly, no-pressure approach and a commitment to helping you save money every step of the way.
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