Over the past 12 months, North-York’s average sold prices have seen notable fluctuations with a clear downward shift in early 2025. The latest data shows the February 2025 average sold price at approximately $912K, a significant decline compared to February 2024’s average of about $1.10M. This year-over-year drop, along with the HPI’s short‐term decreases (–3% over one year and –14% over three years), indicates a cooling market despite the long-term upward trend of +27% over five years and +76% over ten years. Agents should note that these price fluctuations provide a more attractive environment for buyers and call for realistic pricing strategies from sellers in the current market cycle.

Market supply and demand analysis further reinforces the idea of a softening market. Recent trends depict a disparity between sales and inventory: while new and active listings remain relatively high (with February 2025 recording 767 new and 1,356 active listings), the sales-to-new listing ratio has weakened and average days on market (DOM) have increased to 38 days compared to as low as 21–24 days in previous periods. With months of inventory now hovering around 5.56, the market shows signs of reduced urgency among buyers, enabling more negotiation room. Real estate agents can leverage these insights to guide clients towards timely decisions, ensuring sellers set competitive prices and buyers take advantage of increased inventory and less frantic market conditions.

Read the full article on: Toronto Regional Real Estate Board