Toronto’s average home price has dipped just below the $1 million mark—currently landing around $993,000, which is roughly 3% lower than this time last year. For many buyers, this shift has nudged affordability in a more favourable direction. However, with new listings down about 14% year-over-year (now at approximately 12,100), and overall inventory tightening, buyers are faced with fewer options to choose from. In this latest period, just over 5,000 sales were reported—a 2% decline compared to last year.
From my experience guiding clients through shifting GTA markets, I know that tighter supply often leads to increased competition, which can help stabilize prices even as affordability improves. While steady mortgage rates and positive economic signals have been helpful, ongoing trade concerns and the possibility of rising inflation or borrowing costs continue to influence buyer confidence. If inventory continues to tighten and prices start to climb, we may see buyers move more decisively, and conditions could become more attractive for sellers—potentially encouraging a fresh wave of listings. Navigating these nuanced dynamics with a strategic, results-driven approach is essential in today’s Toronto real estate landscape.
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