Toronto Home Prices Slip Below $1M

In the current period, Toronto area homes sold for an avg. ~$993K, about ~3% lower yearly, a move that improved affordability for many buyers.
Inventory also tightened in the current period: new listings fell ~14% yearly to ~12.1K, and fewer homes for sale left buyers with less choice.
Toronto area REALTORS® reported just over 5K sales in the current period, down ~2% yearly, while reduced selection could increase competition and support prices.
Local professionals said flat mortgage conditions and positive economic news supported affordability, though trade worries and possible future inflation and borrowing costs restrained some households.
Local professionals said if inventory tightens and prices rise, buyers may act sooner, while better seller conditions could bring more listings to market.