Since the Greater Toronto Area’s real estate market peaked in early 2022, some neighbourhoods have seen staggering declines in house prices.
In fact, in 10 neighbourhoods across the GTA, the median sale price of a single-family home fell by 40 per cent over a period of three years.
This is according to the latest research from Wahi, a Canadian real estate listing website and app. Wahi’s analysis looks at how home prices have evolved between April 2022 — near the start of the spring market following the peak — and April 2025 across more than 300 neighbourhoods in the GTA.
“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,” says Wahi CEO Benjy Katchen.
Four Brampton neighbourhoods were within the top 10 in terms of seeing the largest percentage drops in median sale prices, with Huttonville (-53 per cent) accounting for the steepest decline in the GTA. The other Brampton neighbourhoods in the top 10 are Vales of Humber (-50 per cent), Northwood (-44 per cent), and Westgate (-40 per cent).
These neighbourhoods are at the extreme end of price declines during the past two and a half years. However, the downward trend has been widespread, with 289 of the 344 neighbourhoods that Wahi analyzed having lower prices this year than in April 2022.
Looking at declines by dollar amount, the median price in 10 neighbourhoods across the GTA plunged by $1 million since spring three years ago.
Six of the 10 neighbourhoods that recorded the largest drop on a dollar basis were located within the City of Toronto, led by Windfields.
In Windfields, an upscale North York neighbourhood, the median price of a single-family home was $3,270,000 last month. That represents a jaw-dropping decline of $3,105,000 in the median sale price over a three-year period.
It’s also more than $1 million more than the second-largest drop, which occurred in Wanless Park, another affluent North York community. There, the median single-family home price nosedived by $1,967,500 to $2,182,500.
All data included in Wahi’s analysis is sourced from the Toronto Regional Real Estate Board and Information Technology Systems Ontario.
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