10/26/2026
Toronto Home Prices Slip Below $1M
Toronto home prices have dipped just under the $1 million mark, with properties averaging around $993,000 this period—a 3% decrease from last year. For many buyers, this shift has offered a welcome step toward greater affordability in our market. However, inventory has become noticeably tighter: new listings dropped by 14% year-over-year to about 12,100, and with fewer homes available, buyers are finding their choices more limited. REALTORS® in the Toronto area reported just over 5,000 sales, a 2% decrease from the same period last year. Reduced selection may spark more competition among buyers, which could, in turn, help stabilize prices. While flat mortgage rates and positive economic signals have played a role in supporting affordability, ongoing trade concerns and the potential for inflation or higher borrowing costs are still on the minds of many households. If inventory continues to shrink and prices begin to rise again, we may see buyers making decisions more quickly, and improved selling conditions could encourage more homeowners to list. As someone who lives and works in Toronto’s dynamic real estate landscape, I’m seeing firsthand how these trends are influencing both buyers and sellers across our communities.