09/20/2026
Toronto Area Home Prices Dip Below $1 Million
Toronto’s average home price recently slipped just under the $1 million mark, now sitting around $993,000—about 3% lower compared to last year. This adjustment has eased affordability for many buyers, though it’s paired with a notable 14% drop in new listings (down to roughly 12,100), which means fewer options across the market. Sales volume also dipped by about 2% year-over-year, with just over 5,000 homes changing hands, and the tightening supply may well heighten competition among buyers and help maintain price stability. From my experience guiding clients through shifting market landscapes, I’ve noticed how stable mortgage rates and encouraging economic indicators can make a difference, even as concerns about trade, inflation, and future borrowing costs weigh on household decisions. If inventory remains tight and prices begin to climb, buyers could feel more urgency, while sellers may be motivated to enter the market. As always, I’m committed to helping my clients navigate these dynamics with clarity and confidence.
