09/23/2026
Toronto Home Prices Slip Below $1M
This past period, the average home price in the Toronto area slipped just below the $1M mark, settling at around $993,000—about 3% lower than the same time last year. For many buyers, that shift offered a touch of relief on affordability. At the same time, new listings dipped by approximately 14% to 12,100, tightening inventory and giving buyers fewer choices across the city. REALTORS® in Toronto reported just over 5,000 sales, a slight 2% decrease year-over-year, and the reduced selection could spark more competition among buyers, potentially supporting prices in the coming months. Despite steady mortgage rates and some encouraging economic signs helping affordability, uncertainties around trade, inflation, and future borrowing costs continue to weigh on some households. If inventory keeps tightening and prices begin to rise, buyers may feel pressured to act more quickly, while improved conditions for sellers could encourage more homeowners to list. At Zown Realty Inc., we’re committed to transparency and empowering clients—buyers and sellers alike—with the tools and information they need to navigate these dynamic market changes.
