Toronto Home Prices Slip Below $1M | Sivage Sivagumaran, CPA | https://sivagerealty.ca | How to Find the Best Real Estate Agent in Toronto for Your Needs?

Toronto home prices have just dipped below the $1M mark, with the average sale price now around $993K—about 3% lower than this time last year. For many buyers, this shift opens up new opportunities for affordability, but the story doesn’t end there. Inventory has also tightened, as new listings dropped 14% year-over-year to roughly 12,100, leaving fewer choices for buyers and adding a layer of competition to the market. With just over 5,000 sales reported, down about 2% from last year, we’re seeing a market that’s dynamic but not without its challenges. Mortgage conditions have stayed relatively flat and some positive economic news has helped, but concerns about trade, future inflation, and borrowing costs remain on many minds. As inventory tightens and prices show signs of firming, buyers may feel the pressure to act faster, while improving conditions for sellers could bring more homes to market. With my background in accounting and finance, I’m always focused on helping clients make decisions that balance market timing with long-term financial clarity—because every move should be strategic, stress-free, and maximize value.