Toronto Real Estate Prices Have Dropped Over $360k Since Peak

Greater Toronto real estate prices have now seen the largest correction in history. That didn’t stop prices from slipping further in October, according to TRREB data. Lofty inventory and weak sales pushed prices down to their lowest level in almost 6 years. Toronto Real Estate Prices Have Plunged 28.4% Since Peak The price of a typical home across Greater Toronto. Source: TRREB; CREA; Better Dwelling. The price of a home across Greater Toronto slipped 0.13% (-$1.2k) to $915,400 in October, 4.3% (-$40.8k) lower than last year. Home prices have plunged 28.4% (-$363.4k) since peaking in 2022. Even the sharpest correction in the region’s history has yet to wipe out pandemic gains though. Prices are back to December 2020 levels, though many would argue this is a modelling issue. Weak demand may confirm that, as buyers clearly don’t see this level as a “deal.” Toronto Home Sales Fall To 3 Year Low Greater Toronto home sales through the MLS. Source: TRREB; CREA; Better Dwelling. Sales suffered another setback last month. TRREB reported 5,600 sales through the MLS in October, down 7.9% from last year. This is the second year to show a year-over-year drop in sales, marking a 3-year low for ...