Average Sale Prices of Detached Homes in January in Comparison to January of 2025:
• Toronto: +0.04% at $1.58M
• Vaughan: -12.65% at $1.41M
• Richmond Hill: -9.88% at $1.68M
• Mississauga: -12.79% at $1.36M
• Markham: -12.49% at $1.46M
• King City: +10.27% at $2.87M
• Newmarket: -18.79% at $1.03M
• Aurora: -23.07% at $1.49M
• Bradford: -16.19% at $953,000
• Milton: +0.21% at $1.30M
• Stouffville: -9.29% at $1.46M
• Innisfil: -11.16% at $853,000
• Alliston: -8.34% at $852,000
• Burlington: -12.52% at $1.33M
• East Gwillimbury: -28.88% at $990,000
• Barrie: -10.59% at $768,000
• Oakville: -3.65% at $1.85M
After being on the ground in this market for years, I can confidently say something has shifted. Toronto and surrounding areas are not in chaos and this isn’t a collapse, but the tone has changed. Buyers are cautious, sellers are adjusting and the numbers across Toronto, York Region, Peel, Durham and Simcoe reflect a market driven more by hesitation than urgency.
The biggest headline: nearly 400 Toronto condos are currently listed under $400,000, a price point we haven’t seen in over a decade. This is the result of pandemic-era construction completing into a higher-rate environment with softer demand. It’s not a crash - it’s supply temporarily outweighing demand.
GTA average prices dipped to around $973,000 in January, down 6 - 8% year-over-year and about 27% from the 2022 peak. Sales were among the weakest January totals since 2009, despite strong population growth. That tells us demand hasn’t disappeared, it’s simply waiting. Psychology is playing a major role.
Detached prices in Toronto held around $1.58M, but homes are taking longer to sell. Vaughan saw prices adjust over 12%, yet sales increased, proof that when pricing aligns with reality - buyers step in. Outer markets like East Gwillimbury, Aurora and Newmarket saw sharper corrections, while King City stood out as one of the few areas with price growth.
Short term, conditions likely remain soft. Buyers have leverage and sellers must be strategic, even small overpricing can cost weeks on market. But construction has slowed significantly, which could tighten supply in the coming years. This isn’t a broken market - it’s a reset. Hesitation, negotiation and realism are slowly returning.
If you would like to talk strategy or need advice on your next move, give me a shout!
FUAD ABASOV | Real Estate Broker, ABR, SRS, RENE, E-PRO
Ranked Top 2% | Right at Home Realty, Brokerage
Direct: 647-801-3401 | BIO Link: https://bio.link/fuadhomes
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