Toronto home sold at $500k loss after 3 weeks on market is sign of desperate times

, prospective home buyers still benefitted from lots of inventory and increased choice. In fact, many homes — including one North York property — were resold well below their original price tags.

"North York, in particular, is feeling the pinch. This suburban area, known for its family-friendly communities and detached homes has become a hotspot for price drops. Despite being a historically strong market, properties here are struggling to find buyers." , home sales increased strongly year-over-year in October 2024, and the average selling price was up slightly on an annual basis.

"The positive affordability picture brought about by lower borrowing costs and relatively flat home prices, prompted this improvement in market activity."

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