Toronto’s average home price recently dipped just below the $1M mark, coming in around $993K—about a 3% decrease year-over-year. For many buyers, this slight shift brings a bit of relief on the affordability front. However, it’s not all smooth sailing: new listings also dropped by roughly 14% compared to last year, leaving just over 12,000 properties on the market and giving buyers fewer options to choose from.
In this period, local REALTORS® reported just over 5,000 home sales—a modest 2% drop from last year. With inventory tightening, competition among buyers could intensify, which may help support prices moving forward. While steady mortgage rates and encouraging economic updates have helped some households, trade uncertainties and concerns about future inflation and borrowing costs have held others back.
If inventory continues to shrink and prices begin to rise, we could see buyers move more quickly to secure their next home, while sellers may find more favorable conditions to list their properties. With my deep local knowledge and a client-first approach honed through experience, I’m here to offer thoughtful, personalized guidance as you navigate these market shifts—whether you’re considering your first purchase or planning your next strategic move.
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