Toronto’s average home price has dipped just below the $1 million mark, settling around $993,000—a shift of about 3% lower than last year. For many buyers, that small drop means affordability has improved, if only slightly. But it’s a mixed picture: new listings fell roughly 14% (to about 12,100 homes), leaving fewer options for those searching. With just over 5,000 sales reported, activity was down about 2% compared to last year, and limited inventory is already fueling a sense of competition among buyers.
From where I sit, having spent a decade guiding clients through Toronto’s ever-shifting market, these numbers signal that timing and preparation matter more than ever—whether you’re a first-time buyer, looking for that perfect upgrade, or planning a right-size move. Flat mortgage rates and some positive economic news are helping, but concerns about future borrowing costs and inflation are still on many minds. If inventory keeps tightening and prices start to climb again, we might see more buyers move quickly and more sellers encouraged to list.
Every client’s situation is unique, and staying close to the market pulse makes all the difference. If you’re weighing your next step, know that a thoughtful, informed approach is always my first priority.
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