There’s been a shift in the Toronto market: for the first time in a while, the average home sold for just under $1 million—about $993K, which is roughly 3% lower than a year ago. This drop is giving some buyers a much-needed boost in affordability. At the same time, fewer new listings (down about 14% to 12,100 homes) means there’s less to choose from, and just over 5,000 sales were reported, a 2% dip year-over-year. While the reduced selection can spark more competition and help support prices, it also makes timing and preparation even more important. Steady mortgage conditions and encouraging economic updates have helped on the affordability front, but concerns about trade, inflation, and potential borrowing cost increases are still on many minds. If inventory keeps tightening and prices start to climb again, buyers may feel more urgency, while sellers could see better conditions ahead. Having the right guidance and local insight can make navigating these shifts much smoother—my goal is always to deliver an experience that feels both exceptional and stress-free, whether you’re buying or selling.
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