toronto real estate

Toronto home prices on the verge of decline

Toronto's real estate market might be starting to cool down. Signs, such a decline in sales and an influx of new listings point to a market that's not quite as red hot as it was a year ago.

While prices haven't actually dropped just yet, Bloomberg reports that the rate of increase has dropped significantly this month, which could mark the beginnings of a more lasting trend.

Bloomberg cites Toronto Real Estate Board data that says in the first two weeks of June, local home sales continued to drop. And, compared to June 2016, prices went up only 6.7 percent for all home types (as opposed to 17 percent last year).

There was a 22 percent increase in listings as more home owners looked to sell off properties.

Should the trend continue, the Toronto market could see home prices decline for the first time in what seems like ages. Do bear in mind, however, that other data sets are not so gloomy.

Lead photo by

263 Dawlish Avenue


Join the conversation Load comments

Latest in City

Vote for your favourites in 30 new best of categories

Toronto neighbourhood still shaken by long lockdown in Ontario

People upset after Shoppers Drug Mart in Toronto replaces cashiers with self-checkouts

Toronto loses out to Winnipeg on latest ranking of world's greatest places

Police are now ticketing cyclists for going too fast in a Toronto park

Toronto ferry undergoing major transformation that will be a first for Canada

Someone in Toronto is sending passive aggressive notes telling people how to park

Toronto is finally doing something about noisy Fast & Furious-style drivers