Prices pulled back again in July, but the story has layers.

Average GTA home prices slipped 5.5% year-over-year to $1.05M, marking the steepest annual drop since April 2023. Prices remain 21% below the 2022 peak, yet still sit 12.5% higher than 2020 — showing how values have levelled out over the past four years.

What’s driving this? A surge in demand for entry-level homes, with low-rise sales under $700K up 60% and condos under $500K up 125%. This shift toward affordability is putting downward pressure on overall averages.

Curious how these trends affect your buying or selling plans? Let’s connect.