Toronto home sells for almost $200,000 less than its 2016 price

A Toronto home just sold for nearly $200,000 less than what it originally hit the market for in 2016, offering another sign that selling prices in the city are increasingly being negotiated downward in favour of buyers.

The freehold townhouse, located in North York, was first sold back in October 2016 for $1,128,000. According to its past listing, the three-bedroom, three-bathroom home boasts nine-foot ceilings on its first floor, an upgraded kitchen, stainless steel appliances, and granite countertops. 

Over the next decade, the home was re-listed over a dozen times at various price points, including in 2019 for $1.19 million, $1.29 million in August 2023, and $1.35 million in January 2024. 

The home's listing history.

This year, the home was put back on the market for $1.26 million and eventually sold for $950,000, representing a loss of $178,000 when compared to its price 10 years ago. 

Throughout 2025, dozens of homes in the GTA and across Ontario sold at notable losses when compared to their original price tags, including this Brantford home that was sold at a $550,000 loss, and this Toronto home that was sold at a loss of $1.35 million after eight attempts to sell. 

The home's sale history dating back to 2016.

According to the Toronto Regional Real Estate Board (TRREB), listing inventories remained elevated throughout 2025, which allowed for increased affordability as selling prices were negotiated downward in favour of buyers. 

"The GTA housing market became more affordable in 2025 as selling prices and mortgage rates trended lower. Improved affordability has set the market up for recovery," said TRREB President Daniel Steinfeld.

"Once households are convinced that the economy and labour market are on a solid footing, sales will increase as pent-up demand is satisfied." 

As a result, last year's annual average selling price of $1,067,968 was down 4.7 per cent compared to the average selling price in 2024 of $1,120,241. The MLS Home Price Index Composite benchmark was also down by 6.3 per cent year-over-year in December 2025. 

Last month's average selling price of $1,006,735 was down by 5.1 per cent compared to the same month in 2024. 

"Reaffirmed trade relationships and large-scale domestic economic development projects will be key for improved home sales moving forward. GTA households must be confident in their employment situation before committing to long-term monthly mortgage payments, even in this more affordable market," said TRREB Chief Information Officer Jason Mercer.

"We urge governments at all levels to take action now to provide tax relief for consumers and help ease the rising cost of living," noted TRREB CEO John DiMichele.

"Families and individuals need financial breathing room so they can afford a home or apartment and meet their basic needs. Fair and responsible tax policies can put more money back into people’s pockets, restore consumer confidence, and rebuild trust in the economy."