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GTA Home Prices Down by $1 Million in Select Neighbourhoods

The Greater Toronto Area’s real estate market has experienced a dramatic shift since peaking in early 2022. According to a recent report by real estate platform Wahi, some GTA neighbourhoods have seen home prices drop by as much as $1 million over the past three years.

For many homeowners who purchased during the market’s peak in early 2022—and even those who bought in 2023—the slowdown means selling now could result in significant losses. Notable examples include an Oshawa property sold at a $510,000 loss and a Brampton home selling $520,000 below its purchase price.

Wahi’s analysis, based on data from the Toronto Regional Real Estate Board and Information Technology Systems Ontario, examined over 300 GTA neighbourhoods. Findings revealed that in 10 specific areas, the median sale price of single-family homes dropped by 40%, translating to roughly a $1 million decline between April 2022 and April 2025.

While some real estate experts predict a potential rebound in pricing, the spring 2025 market has remained sluggish, offering buyers opportunities to enter historically high-demand neighbourhoods at reduced prices.

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