Noticing a shift in the Toronto area market: the average home price has dipped just below the $1 million mark, landing at approximately $993,000—a roughly 3% drop from last year. This adjustment has opened the door for more buyers, even as options narrow, with new listings down about 14% year-over-year to around 12,100. Just over 5,000 sales were recorded in the same period, about 2% fewer than last year. With fewer homes available, competition among buyers could intensify, which may help sustain prices. While steady mortgage rates and positive economic signals are supporting affordability, some households are weighing concerns about future borrowing costs and inflation. If inventory keeps tightening and prices start to rise, we may see buyers moving quickly and more sellers entering the market. As a real estate professional rooted in Brampton and the GTA, I’m closely watching these trends to guide my clients with current insight and local expertise.