For those keeping an eye on Toronto real estate, the average home price just dipped below the $1M mark—now sitting at around $993,000, about 3% lower than last year. This shift means improved affordability for many buyers, though options are a bit slimmer: new listings are down about 14% to 12,100, so there’s less on the market to choose from. With just over 5,000 sales reported (down 2% from last year), we’re seeing a tighter market where reduced selection could spark more competition among buyers and, in turn, help support prices.
What’s interesting is that steady mortgage rates and some positive economic signals have kept things within reach for buyers, but there are still concerns about trade issues, inflation, and potential borrowing cost hikes that could hold some households back. If inventory tightens further and prices rise, buyers may feel more urgency, while stronger conditions for sellers could lead to more properties hitting the market. Having sold both residential and income properties in the GTA for over three decades, I always aim to help my clients make smart moves—whether they’re looking to buy, sell, or invest—by keeping a close eye on these trends and focusing on strategies that help you save money without any pressure.
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