Greater Toronto Buyers Find Value as Home Prices Adjust

This past August, nearly 80% of homes in the GTA sold for less than their asking price—specifically, 79.3%, with a typical discount of 3%. The average sale price came in at $855,000, which is down 1.16% from July and 4.79% compared to last year. Having spent over two decades immersed in Toronto’s market and over a decade as a mortgage specialist, I’ve seen firsthand how negotiation strategies and results can differ widely depending on property type and neighborhood. Understanding these nuances is key—especially in a market where every percentage point matters to both buyers and sellers.