Average price went from $1,334,544 in February 2022 to $1,008,968 in February 2026.
Past downturn: prices ↓21.3% in 4 years after 1989 peak, then bottomed in 1995 at ↓28.5%.
Foch says buyers are sidelined while values seem to ↓; stability may take years, with prices possibly flat long.
Condo market: avg price ↓ from nearly $800,000 to just over $625,000; sales ↓ from 2,772 to 1,088.
Sellers must reset expectations and boost curb appeal; buyers should expect short-term depreciation and think 10-year.
Sales are up and listings are shrinking. Is now the time to buy a home in Toronto?
Canadian home sales rose 5.5% month-over-month in May, marking the first significant increase this year. In the Greater Toronto Area, sales increased 6.3% year-over-year, while average home prices fell 4.6% to about $1.07 million. Buyers...
