Home prices are down $1M in these Greater Toronto neighbourhoods

A report finds housing prices have dropped by $1 million in some Greater Toronto neighbourhoods since 2022.

Those who purchased at peak high prices in early 2022, and even some who bought in 2023, are losing money if they need to sell now. There are several examples of homes selling at a loss, including an Oshawa home that sold for a $510,000 loss, and a Brampton house that sold for a $520,000 loss.

While some real estate experts predict home prices will increase soon, it has been a slow spring market. Since the Greater Toronto Area’s real estate market peaked in early 2022, some neighbourhoods have seen staggering declines in house prices, a report from real estate listing website Wahi noted.

In fact, in 10 neighbourhoods across the GTA, the median sale price of a single-family home fell by 40 per cent in a period of three years, Wahi found.

Wahi’s analysis looks at how home prices have evolved between April of 2022 — near the start of the spring market following the peak — and April of 2025 across more than 300 neighbourhoods in the GTA.

Looking at declines by dollar amount, the median price in 10 neighbourhoods across the GTA plunged by $1 million since spring three years ago.

All data included in Wahi’s analysis is sourced from the Toronto Regional Real Estate Board and Information Technology Systems Ontario.

See the full report here.