Over the past 12 months, the average sold price has fluctuated modestly with the latest month recording an average of about $1,017,980, a slight increase compared to approximately $1,002,904 seen a year ago. These price variations are set against the backdrop of the HPI benchmark that implies a yearly decline of roughly 5.5% despite strong long‐term gains over five and ten years. Meanwhile, monthly sales, new listings, and active listings have shown notable variability; recent data indicates that while some months featured brisk sales (higher sales-to-new listings ratios and lower days on market), others, like the latest month with 8.4 months of inventory and an average 30 days on market, hint at a more moderated pace. This interplay between fresh inventory and sales activity suggests that the market may be moving away from a highly competitive seller’s market toward one with more balance between supply and demand, where buyers might have increased negotiating power if sellers are keen to move quickly.

Read the full article on: Toronto Regional Real Estate Board