House prices down over $1 million in these Toronto neighbourhoods

Houses in Toronto are certainly not cheap, but a new report shows that the prices of single-family homes (detached, semi-detached and town or row houses) are down significantly from the highs they reached during the tail end of the pandemic.

In five neighbourhoods, they’re down over $1 million.

Recently, real estate company Wahi released a report comparing house prices in several Toronto and GTA neighbourhoods between April 2022 and April 2025. The report found that in five Toronto neighbourhoods, prices have fallen by seven figures and in three neighbourhoods, the drop amounts to decreases of 40 or more per cent.  

In April 2022, the affluent Windfields neighbourhood in North York boasted a stunning median price of $6,375,000 for a single-family home. This year, the median price fell to a (still lofty) median of $3,270,000–a drop of $3,105,000. 

The second largest median price drop occurred in Wanless Park, another affluent community in North York. There, the median single-family home price fell from $ 4,150,000 to $2,182,500 — a drop of $1,967,500.

In the Church-Yonge Corridor, the median price of a low-rise home rose to $2,750,000 in April 2022, only to drop to $1,657,500 this year–a decline of $1,092,500. Prices have also dropped over $1 million in North Toronto ($2,800,000 to $1,750,000) and Forest Hill ($3,650,000 to $2,641,900). 

While the price drops are substantial, the median price points in all five neighbourhoods, considered some of the more prestigious in the city, remain well above the median home price ($910,000, all home types combined, including condos) that Toronto reached in June 2025. 

While affluent Toronto neighbourhoods have witnessed significant price drops, the report also notes that declines of more than $1 million in median prices have been observed in Vales of Humber in Brampton, Mineola in Mississauga and Rougemount in Pickering. 

The report states that in 10 neighbourhoods across the GTA, the median sale price of a single-family home fell by 40 per cent in three years.

“Prices for single-family homes have held up better than condos, but Wahi’s latest analysis shows how much market trends can vary from neighbourhood to neighbourhood,” said Wahi CEO Benjy Katchen in the report.

While the more affluent neighbourhoods experienced the most significant price declines over the past two-and-a-half years, Wahi noted that the downward trend has been widespread, with 289 of the 344 neighbourhoods it analyzed having lower prices this year than in April 2022. 

Six of the 10 neighbourhoods that recorded the largest drop on a dollar basis were located in Toronto. 

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